Near-Surface Mineralization Expanded In The M Zone

VANCOUVER - Liberty Gold Corp. reported on the reverse circulation (RC) drill program at the M Zone, and final results from the 2021 resource upgrade and step-out drilling program at the Discovery Zone at the Black Pine oxide gold deposit in southern Idaho.

The M Zone, located east of Discovery Zone, is a focus of the 2022 drill program given the near-surface mineralization and proximity to lower elevation areas to the east that might be suitable for heap leach infrastructure. Results from the 2022 winter drill program delivered relatively high-grade oxide gold mineralization at shallow depths (~30 to 80 meters (“m”) below surface). The current resource contains two pits in the M Zone and today’s results targeted the 250 m gap between these two pits, with the primary objective to link mineralization into a single larger deposit over a 750 m length.

Drilling is currently underway to the southwest of the M Zone, testing a 650 m gap in bedrock drilling overlain by a historic waste dump that potentially contains mineralization between the historic Tallman and CD pits, with the goal of linking mineralization within this entire corridor from M Zone to CD Zone, a distance of over 2 kilometers (“km”).

At the Discovery Zone, infill drill results continue to confirm and increase confidence in the broad continuity of oxide gold mineralization across the Discovery Zone, which hosts 74% of the current Black Pine resource ounces. Step-out drilling in areas surrounding the Discovery Zone, suggests that several of these zones can potentially be merged into a single, contiguous resource area ultimately linking to the main Discovery Zone pit.

Liberty Gold continues to advance its 87,000 m drill program in 2022 and has delivered strong early returns at both Rangefront and now at the M Zone. This illustrates the success this year’s program has had so far in discovering, linking up and expanding mineralized areas across the entire deposit and will continue to be a key focus of our exploration program this year.

Cal Everett, President and CEO, said, “The 2021 drill campaign continued to deliver strong results further demonstrating Black Pine as a large-scale gold deposit in the Great Basin. The notable 2021 success was the Rangefront discovery, but step-out and in-fill results within the Discovery Zone and surrounding areas also continue to add value to the deposit. By the end of 2022 Liberty Gold will have completed approximately 150,000 additional meters of drilling subsequent to our first resource estimate at Black Pine.”