Liberty Gold Announces Updated Mineral Resource Estimate for the Black Pine Oxide Gold Deposit, Idaho
VANCOUVER, British Columbia, Feb. 15, 2024 (GLOBE NEWSWIRE) — Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) (“Liberty Gold” or the “Company”) is pleased to announce an update to the independent Mineral Resource Estimate (the “Resource” or “MRE”) at its Black Pine Oxide Gold Project (“Black Pine”) in southeastern Idaho.
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The Resource is reported at a cut-off grade (“COG”) of 0.2 grams per tonne (“g/t”) gold (“Au”) and consists of:
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Indicated resources of 3,206,000 oz Au
at an average grade of 0.49 g/t Au and totalling 203.8 million tonnes (“Mt”); and -
Inferred resources of 325,000 oz Au
at an average grade of 0.42 g/t Au and totalling 24.1 Mt.
-
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A high-grade subset of the Resource contained within the 0.2 g/t Au resource pit, applying a COG of 0.5 g/t Au and consists of:
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Indicated resources of 1,765,000 oz Au
at an average grade of 1.01 g/t Au and totalling 54.2 Mt; and -
Inferred resources of 143,000 oz Au
at an average grade of 0.91 g/t Au and totalling 4.9 Mt.
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The updated MRE represents an increase of 593,000 Indicated gold ounces from the 2023 estimate (see press release dated
February 7, 2023
).
Jon Gilligan, President and COO of Liberty Gold stated,
“This updated Mineral Resource Estimate represents an important milestone for the Black Pine project, passing 3 million gold ounces in the Indicated class. The new resource solidly underpins the Pre-Feasibility Study, which is on track for completion in the third quarter 2024”.
For maps, cross sections and a sensitivity analysis table of the Black Pine Mineral Resource block model, please click here:
http://ml.globenewswire.com/Resource/Download/7d97ab11-3f2c-4192-80e7-089619ebf171
IMAGE 1: MAP OF THE BLACK PINE MINERAL RESOURCE BLOCK MODEL
TABLE 1: BLACK PINE UPDATED MINERAL RESOURCE ESTIMATE BY ZONE
|
Zone |
Classification |
(000) tonnes |
g/t Au |
(000) oz Au |
% Tonnes Ind & Inf |
% oz Total Resource |
|
Discovery Zone |
Indicated | 92,953 | 0.53 | 1,598 | 92 | 48 |
| Inferred | 7,820 | 0.42 | 105 | 8 | ||
|
Rangefront Zone |
Indicated | 78,009 | 0.44 | 1,098 | 93 | 34 |
| Inferred | 5,761 | 0.49 | 91 | 7 | ||
|
CDF Zone |
Indicated | 19,996 | 0.40 | 259 | 87 | 8 |
| Inferred | 3,019 | 0.40 | 39 | 13 | ||
|
M Zone |
Indicated | 4,070 | 0.72 | 95 | 92 | 3 |
| Inferred | 349 | 0.36 | 4 | 8 | ||
|
Back Range Zone |
Indicated | 4,693 | 0.62 | 94 | 90 | 3 |
| Inferred | 547 | 0.56 | 10 | 10 | ||
|
E Zone |
Indicated | 2,604 | 0.46 | 39 | 44 | 2 |
| Inferred | 3,334 | 0.33 | 35 | 56 | ||
|
J Zone |
Indicated | 1,447 | 0.50 | 23 | 31 | 2 |
| Inferred | 3,256 | 0.39 | 41 | 69 | ||
|
Total Resource |
Indicated |
203,771 |
0.49 |
3,206 |
89 |
91 |
|
Inferred |
24,085 |
0.42 |
325 |
11 |
9 |
Notes:
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CIM (2014) definitions were followed for Mineral Resources.
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Mineral Resources are reported within conceptual open pits estimated at a gold cut-off grade of 0.20 g/t, using a long-term gold price of US$1,800 per ounce and a variable gold leach recovery model derived from extensive metallurgical studies.
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Bulk density is variable by rock type.
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There are no Mineral Reserves.
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Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
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Rounding as required by reporting guidelines may result in apparent discrepancies between…
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