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Liberty Gold Announces Final 2017 Drill Results from Goldstrike Gold Project

Liberty Gold Corp. is pleased to make an announcement about the final 2017 drill results from its 100% controlled Goldstrike Gold Project located in southwestern Utah. Throughout the Historic Mine Trend, the aggressive exploration program has been focused on building continuity between and within the target areas and then linking them together over huge areas into continuous zones of mineralization.

Liberty Gold has also stepped off of the mine trend in order to carry out an initial reconnaissance drill test of two new areas, based 1.5 km west and 2.3 km southwest respectively of the West Zone. Both areas approve of new gold discoveries and also warrant additional drilling.

In 2017 Liberty Gold drilled 45,811m in 285 RC holes at Goldstrike, completed the first phase of metallurgical testing, acquired a Plan of Operations permitting drill access to almost all of the shallow gold targets on the property, started preliminary work for a PEA study, enhanced the project to a pending resource estimate and then confirmed and expanded mineralization in the Mineral Mountain area 6 km to the northwest of the main target area.

In 2017, the Company did not raise capital and completed its planned exploration program for $10.5 million Canadian dollars (“C$”). Liberty has lately closed a bought deal financing and has almost C$11 million in the treasury. The projected 2018 work program will include the first resource estimate for Goldstrike, development of the Project to a PEA decision, constant resource expansion drilling and resource update, expanded permitting, phase 2 metallurgical testing and continued liaison with prospective stakeholders.

Highlights from the Dip Slope Zone include:

  • 0.53 g/t Au over 30.5m and 0.47 g/t Au over 9.1 m in PGS454
  • 0.50 g/t Au over 21.3m in PGS457
  • 0.50 g/t Au over 36.6m in PGS456
  • 0.56 g/t Au over 24.4m in PGS459
  • 0.84 g/t Au over 3.0m and 0.53 g/t over 15.2 m in PGS464
  • 2.39 g/t Au over 7.6m within 0.91 g/t Au over 82.3 m in PGS461
  • 1.65 g/t Au over 10.7m in PGS463

Key Points

  • Current drill results include holes from the eastern Dip Slope Zone, which continues to produce outstanding results to the north.
  • Over 2 km2 of the Dip Slope remain untested.
  • A newly-accessed area of the central Dip Slope Zone, categorized by the existence of extensive jasperoid mineralization with surface grab samples up to 11 g/t gold, is also represented. Mineralization in this area begins at or near the surface. Further drilling is planned, starting on March 1st.

New Discoveries

Highlights include:

  • 0.78 g/t Au over 12.2m in PGS 466 (Jack’s Camp)
  • 2.25 g/t Au over 13.7m within 1.46 g/t Au over 24.4m in PGS 473 (Fence Line).

Key Points

  • The intercept in PGS473 is the extreme west drill test for Liberty Gold to date, along the same structural system that hosts mineralization in the Historic Mine Trend. This area, known as Fence Line, comprises of surface soil samples grading up to 4 ppm gold, and also a few scattered extremely shallow drill holes testing surface jasperoids. Hole PGS473 is the first meaningful test of the potential of this area.
  • Two new discoveries have been drill confirmed 1.5 km northwest and 1.5 km south-southwest of the Beavertail Pit, the most westerly historic pit on the Goldstrike Historic Mine Trend.
  • Follow-up drilling is planned for both areas in 2018.
  • Road access has been established to a number of other targets, with drilling planned for early in the 2018 season.
  • The intercept in PGS466 (Jack’s Camp) is based in the southwestern part of the Property in an area tested with a few historic holes in the 1980s, for which data is not available. A zone of faulting and anomalous gold in surface samples extends almost 1.5 km to the north and south of Jack’s Camp.

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