D-1 Zone Extended To The Northwest

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 identified nine regional oxide gold targets over a 7.3 square kilometer (km2) permit area. To date, six targets have been tested, with assay results back from four, resulting in the D-1 Southeast Extension, D-1 Northwest Extension, D-3, and F Zone discoveries.

“We continue to identify additional areas of oxide gold in our regional drilling program at Black Pine, with every target to date returning encouraging results and discoveries,” said Cal Everett, President and CEO. “Following the successful sale of our 40% interest in the Halilaga porphyry gold – copper (“Au-Cu”) deposit in Turkey, Liberty Gold is assessing options with respect to how to crystallize value in our 60% ownership interest in the TV Tower project, located 13 km to the northwest of Halilaga. We are pleased to announce the resumption of drilling at TV Tower after a five-year exploration hiatus. We are testing a large Au-Cu porphyry target last drilled in 2014 which returned 499.1 metres grading 0.36 grams per tonne gold and 0.13% copper*. Core photographs from the first hole are shown in this release, a second hole is in progress. This is a limited budget drill test of a single target.”

The 2 kilometer (“km”)-long D-1 zone is presently open to the northwest. Historic holes in this area were shallow and some ended in oxide gold mineralization. The open-ended D-1 Northwest Extension (“D-1NW”) is surrounded by a >1 square km area of strongly brecciated limestone with anomalous gold in soil and rock samples and shallow historic drill holes with gold mineralization. LBP179 is the first hole drilled by Liberty Gold in this area, returning 1.02 grams per tonne gold (g/t Au) over 24.4 metres (m). LBP173 tested an area to the west of the north end of the D1 Zone, opposite LBP002, returning 1.18 g/t Au over 16.8 m, and potentially opening up another largely untested area for exploration. Additional drill sites are under construction to expand the drilling effort in this new area.

To date in 2020 Liberty Gold has reported 15 RC and one diamond core hole from the D-1 Southeast Extension (D-1SE), a 400-m-long gap in the D-1 zone between the main portion of the zone and the historic Tallman Pit. High-grade oxide gold was encountered in this area in drill holes LBP150 (3.04 g/t Au over 19.8 m) and LBP168 (1.06 g/t Au over 32 m). Additional results from three drill holes continue to build on the success of previous drilling. Additional drill sites have been constructed in order to continue infill and step-out drilling.

The Company’s third high-grade oxide gold discovery (the “D-3 Zone”) continues to deliver multiple thick intervals of oxide gold mineralization. D-3 lies beneath the limit of shallow historical drilling in a stratigraphic unit that is modeled to underlie most of the Black Pine gold system at depth. It is located immediately west of and approximately parallel to the D-1 Zone. Drilling is presently focused on step out drilling under the historic B pit, and infill drilling throughout the newly-defined zone.