Liberty Gold Reports Weighted Average 86.9% Gold Extraction from Metallurgical Column Leach Testing on Rangefront Zone Oxide Gold Mineralization, Black Pine Project, Idaho

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[{"type":"text","content":" VANCOUVER, British Columbia, March 22, 2023 (GLOBE NEWSWIRE) -- Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) (“Liberty Gold” or the “Company”) is pleased to report results from Phase 4A metallurgical testing of oxide material from the Rangefront Zone at its Black Pine Oxide Gold Project (“Black Pine”) in southeastern Idaho.  HIGHLIGHTS Phase 4A column leach testing on the Rangefront Zone included 24 variability composites from large-diameter (“PQ”) drill core representing the range of rock types and gold (“Au”) grades encountered in oxide mineralization. Key results include: 86.9% “weighted average gold extraction”1 from column leach tests. Gold extractions ranging from 54.1% to 95.8%. >80% of leachable gold extracted within 10 days. These new metallurgical data were not included in the recent mineral resource update (the “Black Pine Resource”)2 and will be added to the next resource update expected in late 2023. These new column test results suggest an increase in recoverable gold in the Rangefront Zone of approximately 4% in the upper plate sandstone unit (“Ppos”) and approximately 10% in the middle plate limestone unit (“Pola”) relative to the recovery models used in the Black Pine Resource. The Rangefront Zone mineralization comprises approximately 27% of the Black Pine Resource 2. These new data are being used to develop metallurgical recovery equations to feed into an updated, deposit-wide gold recovery model for use in future resource, engineering, and economic modeling.  Aggregate metallurgical data from all phases of testwork to date indicate a gold recovery percentage in the mid-70s at the average grade used in the Black Pine Resource. Aggregate test results across four phases of metallurgical study over four years, comprising testwork on 113 composites and six bulk samples, continue to support a technically simple, low initial capital, low operating cost, run-of-mine (“ROM”) heap leach processing route for Black Pine oxide mineralization. ______________________1 Weighted average gold extraction is obtained using the following equation: (composite head grade (grams/tonnes) multiplied by extraction (%) for all head grades)/sum of all head grades.  Using arithmetic averages tends to over-represent low grade composites and under-represent high grade composites.  The arithmetic extraction average of ...

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