In a news release, U.S. exploration company Liberty Gold Corp. (LGD:TSX; LGDTF:OTCQB), reported reverse circulation (RC) drill results from its 2020 drill program at its Black Pine gold property in southern Idaho. Liberty Gold noted that the assay results received to date provide support for confirming that the Black Pine mineralized system be categorized as a district-scale discovery.
The Great Basin-focused firm explained that along with its Goldstrike project in Utah, Black Pine is one of its two flagship properties and noted that both of these former producing open-pit mines were never fully explored and developed.
The company stated that during its 2020 drill program, it tested eight separate regional drill targets and encountered oxide gold in all eight locations. The firm indicated that so far it has received the results from five of the eight sites including the F, J, M and Rangefront zones and the Southwest Extension target, but it is still waiting to receive the data for the remaining targets.
The firm reported that it simultaneously proceeded with infill and stepout drilling operations in the D-1, D-2 and D-3 zones, which the company refers to as the "Discovery Focus Area" as part of the preparations for a maiden resource estimate which Liberty Gold expects to be ready in late Q1/21.
Liberty Gold's President and CEO Cal Everett remarked, "In addition to our well-established D-1, D-2 and D-3 zones, our drill program continues to demonstrate the widespread nature of gold mineralization surrounding the Black Pine Discovery Focus Area. . .We look forward to the release of our Maiden Resource Estimate at Black Pine near the end of Q1/21 and expect that these regional zones will contribute to it. With a larger drilling program planned for 2021, we hope to expand these regional zones and identify additional areas of mineralization. After receipt of the Maiden Resource Estimate, we plan to advance the property to a Preliminary Economic Assessment."
The company advised that it wrapped up its 2020 RC drilling at Black Pine on Dec. 17 and that assays are currently pending from 38 holes. The firm stated that it previously finished up its core drilling program in early November. The program's emphasis was on gathering large-diameter core for metallurgical testing and presently assays are still outstanding from 10 of those holes. Altogether, Liberty Gold said that in 2020 it drilled a total of 46,227 m in 170 holes, which consisted of 43,875 m of RC drilling and 2,342 m of core drilling.
The firm listed that Black Pine is a Carlin-style gold system located in the northern Great Basin near the border between Utah and Idaho. The company pointed out that the area where Black Pine is located is one of the world's most prolific gold-producing regions and is home to many large-scale gold projects that are ideally suited for open-pit mining.
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