New drill results from Liberty Gold (TSX: LGD; US-OTC: LGDTF) have defined a second, high-grade zone of oxide gold mineralization at the company’s Black Pine project in Idaho.
The mineralization was encountered in the Discovery 2 zone, which is subparallel to and 250 metres northeast of Discovery 1.
Drill hole LBP043 returned 6.11 grams gold per tonne over 9 metres from 159 metres, and 4.39 grams gold over 53 metres from 209 metres.
The Discovery 2 zone was announced in July 2019, when drilling intercepted 1.78 grams gold per tonne over 49 metres, including 4.72 grams gold over 15 metres, in drill hole LBP023 from 204 metres.
A total of eight reverse-circulation holes have been released for the Discovery 2 zone. Assays from an additional ten holes are pending.
The assays are some of the highest-grade intercepts ever drilled on the property, and define a northwest trending zone that is 200 metres long, 50 metres wide, and open in all directions.
Cal Everett, president and CEO of Liberty Gold, says drilling has already identified two high-grade structures in the first square kilometre of the 12-sq.-km Black Pine oxide-gold project, with indications that more may be present. The first square kilometre was estimated to contain 200 million tonnes of high-potential carbonate rock favourable to hosting Carlin-style gold mineralization.
Drilling in September will focus on extensions to the northwest and southeast along the two discovery zones, and test two new potential zones further to the east. A diamond-core drill will be added at the end of September to drill six to eight large-diameter core holes for metallurgical column testing.
Liberty Gold acquired the Black Pine project from Western Pacific Resource in June 2016 for US$800,000 in cash, 300,000 Liberty Gold shares and a 0.5% net smelter return reserved to Western Pacific.
Black Pine — formerly called Mineral Gulch — is a Carlin-style, sediment-hosted gold deposit located in southern Idaho’s Cassia County. The historic Black Pine mine on the property operated from 1992 to 1997, during which time it produced 435,000 oz. gold from five shallow pits at an average grade of 0.63 gram gold per tonne at average gold recoveries of 66%.
At press time, Liberty Gold’s shares were trading at 70¢ with a 52-week trading range of 29¢ to 71¢. The company has 236 million common shares outstanding for a $168-million market capitalization.
Be the first to comment on "Liberty Gold defines second high-grade zone at Black Pine"