Liberty Gold Corp. (TSX: LGD) (OTCQX: LGDTF) has added a third drill rig to increase drill results through the second half of the year as it builds towards updating its mineral resource estimate (MRE).
The company said on Thursday it has completed approximately 15,000 meters of its planned 32,000 meters of reverse circulation (RC) drilling for 2023.
The recent drilling efforts have primarily concentrated on the Back Range Zone, Discovery Zone, M Zone West and the CD-Tallman corridor. Additionally, there has been testing conducted on the historical surface waste rock dumps along this connection.
Assays conducted on LBP906 in the Discovery Zone have yielded results for oxide gold, despite this area being considered waste rock in the current resource model. Further results are awaited for four additional holes drilled in the same area.
The 2023 infill drill program is primarily aimed at converting the inferred ounces into the indicated category, while also ensuring drill coverage along the edges of the resource pits. One drill is specifically dedicated to drilling additional holes in an adjacent area to the Discovery Zone, where there appears to be a significant gap in drill coverage at deeper levels.
Significant drill results include:
- 0.74 g/t Au over 45.7 meters, including 2.17 g/t Au over 9.1 meters in LBP892
- 3.28 g/t Au over 10.7 meters including 8.58 g/t Au over 1.5 meters and 0.52 g/t Au over 51.8 meters in LBP893.
The company has also received assay results for 18 holes in the CD-Tallman Corridor area, which included testing of the historical waste rock material covering the corridor. The initial findings from the drilling indicate that a significant portion of the waste backfill material on the surface contains gold above a cut-off grade of 0.1 grams per tonne (g/t) Au.
Oxide gold drill results image. Image via Liberty Gold.
Read more: NevGold shareholders approve GoldMining as new ‘control person’ at special meeting
Read more: NevGold discovers new untested areas at Limousine Butte
Waste rock material discovered with grades of 8.58 grams per tonne
Additionally, zones in the waste rock material have been discovered with high-grade oxide material reaching up to 8.58 g/t Au in hole LBP893.
Further drilling has been carried out in this area with the aim of better understanding the distribution of gold grades within the waste rock material and filling in any gaps in the underlying bedrock mineralization.
A few examples include:
- 80 g/t Au over 29.0 meters, including 3.33 g/t Au over 1.5 meters in hole LBP884
- 51 g/t Au over 13.7 meters in hole LBP887.
The evaluation process for the amendment to the existing plan of operations is ongoing with both Federal and State agencies. Once approved, this amendment will grant the company the ability to conduct extensive exploration drilling for step-out targets and new prospects across a broad area surrounding the current permit area.
This expansion in drilling activities will significantly enhance the scope of exploration and allow for potential discoveries beyond the current permitted zone.
“We are excited to have found high-grade mineralization in a sparsely drilled area within our resource model, which has implications for resource expansion across the project area. We are working hard on the modeling in anticipation of a further resource update at the end of this year,” said Jason Attew, president and CEO of Liberty Gold.
Read more: NevGold discovers oxide gold from the surface at Nutmeg Mountain
Read more: NevGold finds high-grade gold underneath the surface at Nutmeg Mountain
Idaho offers attractive infrastructure and regulations
Idaho’s valuable mineral assets have attracted many mining firms seeking opportunities for success. The state’s abundant reserves of minerals, including gold, have enticed companies looking to capitalize on these resources. Idaho’s established mining infrastructure and favourable regulations make it a desirable destination for firms aiming to make significant profits.
Revival Gold Inc. (TSXV: RVG) (OTCQX: RVLGF) operates the Beartrack-Arnett Gold Project in Idaho, where it’s recently completed a Preliminary Feasibility Study, nearly doubling and tripling its indicated and inferred open pit heap leach resources.
NevGold Corp. (TSXV: NAU) (OTC: NAUFF) is another Vancouver-based gold producer with operations in Idaho, and like Liberty, it’s been gathering drilling information to produce an MRE.
Recent results have shown heap leach potential with hole NMD0004 has showing significant findings. The hole intercepted a gold grade of 0.80 grams per tonne (g/t) over a 51.5-meter section starting from the surface, and assays for the remaining 130 meters still pending.
.
NevGold is a sponsor of Mugglehead news coverage
.
