Liberty Gold Corp. (TSX: LGD) (OTCQX: LGDTF) has reported new results from its 2022 drill program at the Black Pine gold deposit in Idaho that are substantially superior to results from the project that the company announced earlier this month.
On Tuesday, the Vancouver based gold producer reported that it had intercepted 7.07 g/t gold over 18.3 metres including 11.92 g/t Au over 10.7 metres and 46.7 g/t Au over 1.5 metres at the site’s M Zone, the highest grade result ever found at Black Pine.
Liberty recently completed an updated mineral resource estimate (MRE) for Black Pine (February 7) that showed a 51 per cent increase in indicated ounces at the project for approximately 2.6 million ounces. The new results at the site were finalized too late to be included in the recent MRE and indicate the potential for even more ounces there.
Additional new results announced on Tuesday from the M and Back Range zones include the following:
- 1.17 g/t Au over 47.2 metres from 54.9 metres including 2.23 g/t Au over 15.2 metres in LBP736 (M)
- 3.10 g/t Au over 27.4 metres from 50.3 metres including 4.33 g/t Au over 18.3 metres in LBP796 (Back Range)
“The highest-grade drill intercept ever reported at M Zone is notable as this zone is proximal to the potential mining infrastructure,” said Jason Attew, CEO of Liberty Gold.
“The high-grade, near-surface characteristics of M Zone makes it an area of focus for 2023 as we believe M Zone has the grade, continuity, location, and scale for potential early cash flow generation as we work through pit optimization and mine scheduling studies.”
In addition to the Black Pine gold deposit in Idaho, Liberty also has a gold project in Utah and another more distant operation in Turkey.
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Idaho once experienced a gold rush decades prior to the more well known 1898 Klondike Gold Rush in the Yukon Territory. In 1861 gold was discovered near the town of Florence in the state’s North. Miners then began making their way to Florence and what started as a small tent town with merely 50 residents eventually became a city of about 9,000 one year later.
“Incredible amounts of gold dust were produced in Florence and in 1862 alone, six to seven million dollars worth of gold had been extracted. By the summer of 1862 this little miners camp had flourished into a boomtown,” says the United States Department of Agriculture.
The USDA also says many historians are of the opinion that Idaho gold contributed to the Union/North winning the Civil War.
Photo via the U.S. Department of Agriculture
The once lively city of Florence is now merely known to be a ghost town that hosted the mining camp many years ago.
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NevGold Corp. (TSX-V: NAU) (OTCQX: NAUFF) (FSE: 5E50) is another Vancouver-based gold producer with ongoing operations in Idaho.
In January the company commenced drilling at its Nutmeg Mountain property in the state, a site estimated to contain 910,000 ounces of indicated gold.
A recent analysis discussed how NevGold should be trading at a higher premium than other companies with oxide gold heap leach projects in the western U.S. because of its superior grades and leadership team.
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rowan@mugglehead.com
