M Zone Targeted For High Grade Oxide Gold At Black Pine Oxide Project

VANCOUVER - Liberty Gold Corp. reported on drill results from the M and Back Range Zones at its Black Pine Oxide Gold Project in southeastern Idaho. The results are from holes drilled in 2022 designed to expand and upgrade the current Mineral Resource Estimate (MRE) and discover new higher-grade, near-surface oxide gold mineralization.

M zone highlights include: 7.07 grams per tonne gold (“g/t Au”) over 18.3 meters (m) including 11.92 g/t Au over 10.7 m and including 46.7 g/t Au over 1.5 m in LBP813; 1.17 g/t Au over 47.2 m from 54.9 m including 2.23 g/t Au over 15.2 m in LBP736; and 0.93 g/t Au over 38.1 m from 86.9 m including 2.35 g/t Au over 6.1 m in LBP823.

Assay results from an additional 9 holes drilled in the M Zone in Q4 2022 include a high-grade intercept in LBP813, drilled near the western edge of the M Zone, which marks the potential discovery of a new, high-grade core within the mineralized zone. It includes a single 1.52 m interval of 46.7 g/t Au, which is the highest grade gold assay ever returned at Black Pine. This interval is a 100-meter step-out from previous drilling, well outside the MRE resource pit and is open to the west. These results are not included in the recently released MRE. Additional offsets to this hole were drilled over the past 3 weeks and results are pending.

Back Range: 3.10 g/t Au over 27.4 m from 50.3 m including 4.33 g/t Au over 18.3 m in LBP796; 1.36 g/t Au over 15.2 m from 120.4 m including 3.79 g/t Au over 3.0 m in LBP774; and 0.78 g/t Au over 115.8 m from 15.2 m including 1.29 g/t Au over 25.9 m in LBP782.

The Back Range Zone is the furthest known northwest extension of the more than 7 kilometer (km)-long Black Pine gold system. Assay results from 25 holes drilled in the Back Range Zone in 2022 have identified a new area of near-surface, high-grade oxide gold. Current extents of the Back Range mineralized zone are ~1 km2 and the high-grade area is open to the east and west.

Jason Attew, President and CEO, said, “The highest-grade drill intercept ever reported at M Zone is notable as this zone is proximal to the potential mining infrastructure. The high-grade, near-surface characteristics of M Zone makes it an area of focus for 2023 as we believe M Zone has the grade, continuity, location, and scale for potential early cash flow generation as we work through pit optimization and mine scheduling studies. In addition, the encouraging Back Range results underpin our theory that the Back Range and Discovery Zones are linked for which we will test once we receive permits anticipated in late 2023. These recent results are a testament to the team’s ability to discover higher-grade material amongst an already very impressive mineral endowment.”