Liberty Gold Provides Exploration Update for Goldstrike

Liberty Gold Corp. (TSX:LGD) provided an update on planned 2018 exploration activities at their Goldstrike property in Utah.

As quoted in the press release:

Liberty Gold reported a maiden mineral resource estimate for the Property, quoted at a cut-off grade of 0.25 grams per tonne gold (g/t Au) and consisting of: An indicated resource of 865,000 ounces of gold at an average grade of 0.54 g/t Au (49,553,000 tonnes); and an inferred resource of 274,000 ounces of gold at an average grade of 0.52 g/t Au (16,443,000 tonnes).

The primary goal of exploration activities in 2018 is to turn the focus from finding a deposit to setting it on a path toward a substantially de-risked mining project, with an emphasis on engineering, metallurgy, permitting and defining additional resource ounces.

Activities include:

1. Commencement of a Preliminary Economic Assessment: Liberty Gold has retained SRK Consulting (Canada) Inc., Golder Associates, Kappes Cassiday and Associates, and GL Simmons Consulting LLC to complete a Preliminary Economic Assessment (PEA). Initial project scoping and field investigations have commenced, with a targeted release date of mid-year.
2. Additional Metallurgical Testing: Diamond core drilling commenced on March 14 pursuant to providing additional material for metallurgical testing in areas of the deposit not previously studied. The program will comprise approximately 2,000 m of drilling in 16 holes, to provide material for a program similar in scope to that which was completed in January 2017.  In the prior study, 20 column tests returned a weighted average gold recovery of 85.9%, with leaching largely complete in 10 days; see press release dated April 3, 2017. The results suggest that a simple, low-cost, run-of-mine heap leach scenario may be feasible at Goldstrike.
3. Permitting: Two amendments to the existing Plan of Operations were submitted to the BLM in order to gain access to a larger area of the property for drilling than was contemplated when the existing Plan of Operations was submitted 2 years ago.The first amendment, which has been approved, permits access to all previously disturbed areas on the Property, including historic heap leach pads, stockpiles, etc.  Liberty Gold believes that these areas, and bedrock directly beneath them, may contain additional gold.

   The second Plan of Operations amendment will allow for more comprehensive access to a much larger area surrounding the existing resource, and will allow for exploration and growth along the margins of the deposit.

4. Exploration Drilling: Reverse circulation (RC) drilling will commence in early April, and will continue through late November, with a target of 14,900 metres in Phase 1. Liberty Gold is planning both resource expansion drilling and exploratory drilling of new targets.

Click here to read the full Liberty Gold Corp. (TSX:LGD) press release.