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Liberty Gold Announces Updated Resource Estimate for the Black Pine Oxide Gold Deposit, Idaho
2,613,000 Indicated and 483,000 Inferred Oxide Gold Ounces 52% Increase in Indicated and 31% Increase in Inferred Ounces VANCOUVER, British Columbia, Feb. 07, 2
About this update from Liberty Gold Corp
[{"type":"text","content":" 2,613,000 Indicated and 483,000 Inferred Oxide Gold Ounces 52% Increase in Indicated and 31% Increase in Inferred Ounces VANCOUVER, British Columbia, Feb. 07, 2023 (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. The updated Resource builds on the maiden resource released on July 13, 20211, and includes an additional 528 Reverse Circulation (“RC”) and core holes (126,726 metres) drilled by Liberty Gold between April 2021 and October 2022. The MRE has an effective date of January 21, 2023, is reported using a constraining resource pit at a cut-off grade (“COG”) of 0.20 grams per tonne (“g/t”) gold (“Au”) and consists of: An indicated resource of 2,613,000 ounces of oxide gold at an average grade of 0.52 g/t Au and totalling 157,267,000 tonnes (“t”); and An inferred resource of 483,000 ounces of oxide gold at an average grade of 0.43 g/t Au and totalling 35,150,000 t. A high-grade subset of the MRE within the 0.20 g/t Au resource pit using a COG of 0.50 g/t Au consists of: An indicated 1,548,000 ounces of gold at an average grade of 1.02 g/t Au and totalling 47,391,000 t; and An inferred 219,000 ounces of gold at an average grade of 0.93 g/t Au and totalling 7,315,000 t. In total, using the same COG as the previous resource estimate, the updated MRE represents a 52% increase in indicated ounces and a 31% increase in inferred ounces over the maiden resource released just 18 months ago (see press release dated July 13, 2021). Within the higher-grade subset (0.50 g/t Au COG within the 0.20 g/t Au resource pit), 528,000 indicated ounces were added relative to the 2021 maiden resource estimate, a 52% increase. The significant increase in ounces can be attributed to: The discovery (see press release dated September 1, 2021) and subsequent intensive drilling of 154 holes included in the resource in the Rangefront Zone beginning in July 2021 over a 15 month period. Expansion and/or amalgamation of several existing zones, including the CDF, E, and M zones and discovery of the Bobcat Zone, a southern extension of the CDF Zone (see press released dated December 13, 2022). Drill testing and drill definition of s...