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Liberty Gold Reports Q1 2022 Financial and Operating Results
VANCOUVER, British Columbia, May 12, 2022 (GLOBE NEWSWIRE) -- Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) ("Liberty Gold" or the “Company”), is pleased to announc
About this update from Liberty Gold Corp
[{"type":"text","content":" VANCOUVER, British Columbia, May 12, 2022 (GLOBE NEWSWIRE) -- Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) (\"Liberty Gold\" or the “Company”), is pleased to announce its financial and operating results for the three months ended March 31, 2022. All amounts are presented in United States dollars unless otherwise stated. Q1 2022 and RECENT HIGHLIGHTS: On March 25, 2022, the Company closed a bought deal financing for gross proceeds of C$30,000,300 (the “2022 Bought Deal”)1. As at March 31, 2022, we have $33.9 million in cash and $7.25 million in 2022 receivables to continue exploring and de-risking our Black Pine and Goldstrike oxide gold projects in the Great Basin, USA. At Black Pine we: Continued to drill define the Rangefront Focus Area (“RFA”) through Q1 2022. The RFA now encompasses an area of approximately one square kilometre (“km2”), and a high-grade core zone has been defined over a substantial portion of this area. The RFA remains open to the northwest, northeast and east. RFA drill highlights include2: LBP554: 1.49 grams per tonne of gold (“g/t Au”) over 54.9 metres (“m”); LBP473: 1.95 g/t Au over 41.1 m, including 4.43 g/t Au over 10.8 m; LBP514: 0.98 g/t Au over 85.3 m, including 1.56 g/t Au over 27.4 m, and LBP506: 0.63 g/t Au over 94.5 m including 3.66 g/t Au over 6.1 m. Expanded near-surface mineralization in M Zone and completed 2021 Resource Upgrade and step-out drilling at Discovery Zone3: M Zone: LBP564: 2.51 g/t Au over 15.2 m; M Zone: LBP542: 0.56 g/t Au over 53.3 m, and Discovery Zone: LBP407: 0.49 g/t Au over 48.8 m, including 0.61 g/t Au over 35.1 m. Secured access to future process water supply exceeding 2,300 acre-feet per annum and a strategic mineral rights lease from the state of Idaho covering 2.6 km.4 At Goldstrike we: Confirmed the continuity of high-grade gold mineralization across the Main Zone, which hosts the largest portion of economic mineralization identified to date, with results including 0.94 g/t Au over 59.4 m, including 1.30 g/t Au over 16.8 m in PGS 798 and 0.64 g/t Au over 45.7 m, and 0.57 g/t Au over 36.6 m in PGS 807 as well as 0.89 g/t Au over 30.5 m in PGS 8285. SELECTED FINANCIAL DATA The following selected financial data is derived from our unaudited condensed interim consolidated financial statements and related notes thereto (the “Interim Financial Statements”) for the three mo...