Infill Drill Results In The D-1 and D-3 Zones At Black Pine

VANCOUVER - Liberty Gold Corp. reported additional reverse circulation (RC) drill results from the 2020 drill program at its Carlin-style Black Pine oxide gold property in southern Idaho, USA (“Black Pine”).  Liberty Gold continues to define and expand the D-1 and D-3 zones on 35 to 50 meter (m) centers and test regional targets in a systematic manner.

“Definition drilling in the D-1 and D-3 zones continues to deliver zones of high-grade oxide gold mineralization and reinforces the concept that the Black Pine mineralized system consists of a series of stacked high grade oxide gold zones separated by a halo of mineralized material above a projected 0.2 gram cut-off grade,” said, Moira Smith, VP Exploration and Geoscience. “The Black Pine oxide gold system covers a 14 square kilometer (km2) area, and where exposed at surface is marked by a 7+ km2, >50 ppb gold-in-soil anomaly which is likely the largest soil anomaly in the Great Basin that does not have a producing mine on it”.

Liberty Gold’s third high-grade oxide gold discovery (the “D-3 Zone”) continues to deliver multiple thick intervals of oxide gold mineralization. For example, drill hole LBP206 returned six reportable intervals (>0.2 grams per tonne (“g/t”) of gold (“Au”) and >1 gram-meters) from 0 to 327.7 m, aggregating a drilled thickness of 114.4 m of above cut-off gold mineralization and 131.1 gram meters. LBP208 returned six reportable intervals from 4.6 to 368.8 m, aggregating a drilled thickness of 132.7 m of above cut-off gold mineralization and 103.0 gram-meters.

D-3 is approximately parallel to and lies to the west of and partially beneath the D-1 Zone in a stratigraphic unit that is modeled to underlie the southern two-thirds of the Black Pine gold system. This stratigraphic unit has only been tested in a few locations to date and is modeled to extend over an approximate 4.5 km2 area that is permitted to drill.

D-3 drill holes in this release are located in the central and southern portion of the Zone, increasing confidence in the geological and spatial model for gold mineralization. Cyanide solubility numbers remain high across all oxide gold grade ranges for the D3 Zone, and will, in conjunction with recent metallurgical core drilling in this area, help define a gold recovery model.

In early 2020, Liberty Gold identified nine regional oxide gold targets over a 7.3 km2 permit area. To date, seven targets have been tested with over 40,000 m of drilling. Assay results have been received from four, resulting in the D-1 Southeast Extension, D-1 Northwest Extension, D-3, and F Zone discoveries.  Results from the M, Southwest Extension, J, CD and Rangefront targets are pending. RC drilling is ongoing at Black Pine, with two RC drill rigs, double shifted, testing new targets, extending newly identified targets, and expanding on the focused drilling carried out in 2019.  The core drilling program, focused primarily on obtaining large-diameter core for metallurgical testing, was completed on November 7, 2020, with assays pending from seven holes. In addition to RC drilling, Liberty Gold is expanding the drill permit area to access an additional 4.6 km2 of the Black Pine gold system.