Liberty Gold Corp.’s (TSX: LGD; OTCQX: LGDTF) follow-up reverse circulation (RC) drilling at the D-4 discovery at Rangefront has confirmed the presence of a major new mineralised zone at its Black Pine Oxide Gold Project, southeast Idaho.
This area, located to the southeast of Rangefront fault, is being re-named Rangefront Focus Area (RFA), as its scale is potentially similar to the Discovery Zone, where three-quarters of the Black Pine resource is located.
Drilling to date has expanded this broad mineralised zone 1,000m in a north-south direction, with potential to expand at least 800m in an east-west direction. The RFA remains open to extension in all directions outward from the initial D-4 discovery area, with assay results from 25 additional holes pending as of the date of this release.
Two drills are now focused exclusively on the RFA to sequentially drill off the discovery for incorporation into an updated resource estimate. A third drill will be moved to this area with drilling continuing through the winter months.
The confirmed scale of the RFA discovery, coupled with recently identified value-enhancing cut-off grade and Run-of-Mine (ROM) processing optimisations, has led the company to expand the scope of the Preliminary Economic Assessment (PEA) in progress on Black Pine. We are targeting an updated mineral resource estimate and PEA, which will now include the RFA, in Q3 2022
“Our drilling has now confirmed that the Rangefront D-4 discovery is not an isolated occurrence and is part of a much larger oxide gold system that currently extends over one kilometre to the north, merging with shallow mineralisation identified in historical drilling,” President and CEO, Cal Everett, said.
“As well, there are indications that D-4 mineralization extends to the east and may merge with the Rangefront resource pits, over an aggregate distance of 800m. As we continue to aggressively drill this one square kilometre area centred on the D-4 discovery, we foresee the area growing into another large open-pit gold deposit, potentially rivalling the Discovery Zone in size. Importantly, the RFA represents only a portion of a district-scale oxide gold system that covers more than 10 square kilometres.”
Announced in early September, the D-4 discovery targeted a 1,250m gap in drilling along the primary northwest-trending dominant mineralization trend at Black Pine. Previously-released drill holes in the D-4 discovery returned 0.91 grams per tonne of gold (g/t Au) over 86.9 m and 2.03 g/t Au over 21.3 m in LBP356 and 1.23 g/t Au over 24.4 m and 1.37 g/t Au over 50.3 m in LBP358. This news release includes follow-up drilling from 16 holes targeting areas to the north and east of the Rangefront D-4 discovery.
- Drilling from two pads located 250 m to the north of the original D-4 discovery has returned significant gold mineralization, with additional holes pending. Results include:
- LBP408: 0.63 g/t Au over 112.8 m including 0.74 g/t Au over 73.2 m
- LBP418: 0.50 g/t Au over 42.7 m and 1.00 g/t Au over 24.4 m
- All 21 drill holes released to-date in 2021 in the RFA have intercepted multiple zones of oxide gold mineralization.
- Results from drilling on a single drill pad located 300 m north of the D-4 discovery, as well as historic drilling in the Rangefront North resource pit area, extend mineralization over a distance of 1 km south to north, with mineralization shallowing in a northerly direction.
- Drilling in the area between the two resource pits that comprise the original Rangefront portion of the resource estimate was carried out to assess whether the resource could be expanded to encompass both pits in a single pit or could be extended further. Results include:
- LBP362: 0.75 g/t Au over 22.9 m
- Gold mineralisation extends between the two existing Rangefront resource pits.
For further information please visit: https://libertygold.ca/