Liberty Gold confirms two discoveries at Goldstrike project in Utah
Wednesday, Feb 07, 2018
Liberty Gold Corp. has announced final 2017 drill results from its 100% controlled Goldstrike Gold Project in southwestern Utah. Throughout the Historic Mine Trend, the aggressive exploration program is focused on building continuity within and between the target areas and linking them together over large areas into continuous zones of mineralization.

Liberty Gold has also stepped off of the mine trend to do an initial reconnaissance drill test of two new areas, located 1.5 km west and 2.3 km southwest respectively of the West Zone. Both areas confirm new gold discoveries and warrant further drilling.

In 2017 Liberty Gold drilled 45,811 metres in 285 RC holes at Goldstrike, completed the initial phase of metallurgical testing, obtained a Plan of Operations permitting drill access to virtually all of the shallow gold targets on the property, initiated preliminary work for a PEA study, advanced the project to a pending resource estimate and confirmed and expanded mineralization in the Mineral Mountain area 6 km to the northwest of the main target area.

The Company did not raise capital in 2017 and completed its planned exploration program for $10.5 million Canadian dollars (“C$”). Liberty has recently closed a bought deal financing and has approximately C$11 million in the treasury. The proposed 2018 work program will include the first resource estimate for Goldstrike, advancement of the Project to a PEA decision, continued resource expansion drilling and resource update, phase 2 metallurgical testing, expanded permitting and continued liaison with potential stakeholders.

Highlights from the Dip Slope Zone include:

  • 0.53 g/t Au over 30.5 m and 0.47 g/t Au over 9.1 m in PGS454
  • 0.50 g/t Au over 36.6 m in PGS456
  • 0.50 g/t Au over 21.3 m in PGS457
  • 0.56 g/t Au over 24.4 m in PGS459
  • 2.39 g/t Au over 7.6 m within 0.91 g/t Au over 82.3 m in PGS461
  • 1.65 g/t Au over 10.7 m in PGS463
  • 0.84 g/t Au over 3.0 m and 0.53 g/t over 15.2 m in PGS464

KEY POINTS

  • Current drill results include holes from the eastern Dip Slope Zone, which continues to yield excellent results to the north.
  • A newly-accessed area of the central Dip Slope Zone, characterized by the presence of extensive jasperoid mineralization with surface grab samples up to 11 g/t gold, is also represented. Mineralization in this area starts at or near surface. Additional drilling is planned, commencing on March 1st.
  • Over 2 square kilometers of the Dip Slope remain untested.

NEW DISCOVERIES:

Highlights include:

  • 2.25 g/t Au over 13.7 m within 1.46 g/t Au over 24.4 m in PGS 473 (Fence Line).
  • 0.78 g/t Au over 12.2 m in PGS 466 (Jack’s Camp)

KEY POINTS


  • Two new discoveries have been drill confirmed 1.5 km northwest and 1.5 km south-southwest of the Beavertail Pit, the most westerly historic pit on the Goldstrike Historic Mine Trend.
  • The intercept in PGS473 is the furthest west drill test for Liberty Gold to date along the same structural system that hosts mineralization in the Historic Mine Trend. This area, called Fence Line, contains surface soil samples grading up to 4 ppm gold, as well as a few scattered very shallow drill holes testing surface jasperoids. Hole PGS473 is the first meaningful test of the potential of this area.
  • The intercept in PGS466 (Jack’s Camp) is located in the southwestern part of the Property in an area tested with a few historic holes in the 1980s, for which no data is available. A zone of faulting and anomalous gold in surface samples extends approximately 1.5 km to the north and south of Jack’s Camp.
  • Follow-up drilling is planned for both areas in 2018.
  • Road access has been established to several other targets, with drilling planned for early in the 2018 season.

For more information, please visit: http://www.libertygold.ca/

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