Upgraded Plan of Operations At The Goldstrike Project

 

VANCOUVER, BC - Liberty Gold Corp. reported the receipt of a significant amendment to its Plan of Operations at the Goldstrike Project, the flagship of its three principal gold projects located in the prolific Great Basin of the United States. Located in southwestern Utah, Goldstrike is a past-producing oxide - heap leach gold mine that contains a large, shallow, district-scale, Carlin-style gold system.

Liberty Gold continues to meet its project enhancement goals in 2018, commencing with a maiden resource estimate and a Preliminary Economic Assessment (PEA).  This permitting milestone is an important step toward meeting additional project goals.

Receipt of the Amendment to the Plan of Operations will expand access along the Goldstrike deposit trend from a fragmented area of approximately 5.11 km2, to a contiguous 8.66 km2 area. Within this area, Liberty Gold is no longer restricted to operating on site-specific roads and drill pads with fixed locations. The amended permit will allow Liberty Gold enhanced flexibility for road and pad placement for infill and step-out drilling in and around all of the zones in the current resource. In particular, the expanded permit will help infill and expand the Dip Slope zone along the northern margin of the deposit, where drill holes on fixed, widely-spaced pads do not adequately test the shallowly-buried mineralization, and where access to many areas was previously unavailable.  The amount of permitted disturbance remains unchanged.

CEO Cal Everett said, “Receipt of this important upgrade to our Plan of Operations will help address our goal of increasing the total recoverable gold ounces in the Goldstrike deposit to over 1 million ounces and a projected mine life of 10 years or greater.  The current PEA base case for Goldstrike is 713,000 recoverable ounces and a 7.5 year mine life. The expanded access and removal of fixed roads and drill sites will help us meet that goal.”

The company resumed drilling in April and completed a total of 24,716 m in 200 reverse circulation (RC) and 15 diamond core holes in 2018.  A number of holes tested mineralization in targets beyond the limits of the Goldstrike resource and amended Plan of Operations.  These holes build on the 2017 drill results, including holes at Mineral Mountain (1.78 grams per tonne gold (g/t Au) over 67.1 meters (m) including 3.14 g/t Au over 32.0 m in PGS277); Fence Line (2.25 g/t Au over 13.7 m within 1.46 g/t Au over 24.4 m in PGS 473); and Jack’s Camp (0.78 g/t Au over 12.2 m in PGS 466).

The 2018 RC program was completed in November. The program focused on: 1) infill and expansion of the resource; 2) testing of the historic heap-leach, stockpile and waste dump areas that are largely situated within the PEA pit and counted as waste in the model; and 3) testing of new targets property-wide.

Goldstrike is located in the eastern Great Basin, immediately adjacent to the Utah/Nevada border, and is a Carlin-style gold system.