Metallurgical Core Drilling At The Black Pine Oxide Gold Project

VANCOUVER - Liberty Gold Corp. reported on the 14 large-diameter (PQ) core holes at its Black Pine Oxide Gold Project in southeastern Idaho; one core hole, LBP511CA, with an exceptional intercept of 100.4 meters (m) grading 1.38 grams per tonne gold (g/t Au). PQ holes were drilled throughout the target areas of Discovery, E, M, J, F, CD and Rangefront zones with core samples and technical information from these holes being used for further metallurgical testing, geotechnical studies, and geological modeling.

Reverse Circulation (RC) drilling is being carried out across these target areas in 2022 to facilitate discovery of near-surface mineralization and consolidation of zones into larger, continuous deposit areas. Liberty Gold is also pleased to report results from a series of RC holes testing historic waste rock storage and pit backfill areas, with gold mineralization identified in all areas.

Cal Everett, President and CEO, said, “The 2022 exploration program is accelerating at Black Pine, with activity spread throughout the property and an additional RC drill was recently added to the project. The core drilling program was used to help design our exploration drilling this year and has already been a valuable tool in predicting the location of areas of higher-grade mineralization. Our present focus is on discovery of near-surface mineralization that will impact the early phases of a future mining operation.”

Results from 14 PQ core holes for geometallurgical and geotechnical purposes met or exceeded expectations in all areas, including the Discovery, Rangefront, F, M, E, CD and J zones. Highlights include: 3.98 g/t Au over 25.3 m including 8.55 g/t Au over 9.6 m in LBP 499C in North Tallman; 4.80 g/t Au over 21.2 m including 11.0 g/t Au over 7.5 m in LBP508C in F Zone; and 1.09 g/t Au over 29.1 m in LBP530C in M Zone.

Composites from four core holes in the Rangefront Zone were shipped to Kappes Cassiday and Associates in Reno, Nevada for metallurgical column testing. Additional column testing is planned for later in the year. RC drilling in historic waste rock storage and pit backfill areas throughout the property reported gold above the reporting cut-off in all areas, suggesting that much of the surficial material presently classified as unmineralized waste rock may be reclassified as mineralized material in a future resource estimate. Results of metallurgical testing of material of this grade range and type are pending; further testing is planned for later in the year. RC drilling is presently focused on discovery of additional near-surface oxide mineralization, including targets in the F, M and Back Range zones, as well as expansion of the Rangefront Zone to the north. An access road is being constructed into the new South Rangefront target area to allow drilling to commence in this key target area in Q3.

A total of 14 PQ core holes were drilled in support of geometallurgical and geotechnical programs. One hole in the Rangefront Zone (LBP511CA). Results are in-line with expectations or in some cases exceeded them and provide valuable insights in the structural and stratigraphic controls on mineralization.