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Residual Gold Present in Historical Leach Pads at Utah Asset
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This means the pads could be leached again, and cyanide solubility test results indicate the process could be done economically, noted a PI Financial report.

Liberty Gold Corp.'s (LGD:TSX; LGDTF:OTCQB) recently completed sonic drilling and subsequent cyanide solubility testing relative to its Goldstrike project generated positive results, in turn, creating a potential opportunity for the mining company, reported PI Financial analyst Chris Thompson in an August 9, 2022 research note.

Thompson reviewed the two sets of results. He explained that the British Columbia-headquartered company conducted 23 holes of sonic drilling over 815 meters (815m) of two historic heap-leach pads at its oxide gold project in Utah to determine whether or not they contained residual gold.

Indeed, they did, noted Thompson. All of the holes returned a concentration of gold that was thick and above the cutoff grade. This indicates the pads had not been fully heap-leached previously and could be re-leached.

For instance, hole PGS891 in Leach Pad 1 returned 1.02 grams per ton gold (1.02 g/t Au) over 25.9m, including 2.17 g/t Au over 9.1m.

In Leach Pad 2, hole PGS873 showed 0.63 g/t Au over 36.6m, including 0.75 g/t over 29m.

Next, Liberty Gold conducted cyanide solubility testing on some of the material drilled from the heap-leach pads, and it showed "a good correlation between grade and solubility," wrote Thompson. For instance, some of the higher-grade gold intervals proved to be more than 90 percent soluble in cyanide.

These test results indicate re-leaching of the two historical pads could be done economically, Thompson highlighted.

Other work planned for Goldstrike this 2022 season includes metallurgical and reverse circulation (RC) drilling, noted Thompson. Once that is done, the company will move the RC drill rig to its Black Pine project, where it will conduct resource drilling and testing of new targets.


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Disclosures:
1) Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

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PI Financial, Liberty Gold Corp., August 9, 2022

Analyst Certification:  I, Chris Thompson, hereby certify that all of the views expressed in this report accurately reflect my personal views about the subject securities or issuers. I also certify that no part of my compensation was, is, or will be, directly or indirectly related to the specific recommendations or views expressed in this report. I am the research analyst primarily responsible for preparing this report.

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2. The analyst(s) responsible for the report or recommendation on the subject company, a member of the research analyst’s household, and associate of the research analyst, or any individual directly involved in the preparation of this report, have a financial interest in, or exercises investment discretion or control over, securities issued by the following companies.

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General Disclosures:  The affiliates of PI Financial Corp. are PI Financial (US) Corp., PI Financial Services Corp., and PI Capital Corp. Analysts are compensated through a combined base salary and bonus payout system. The bonus payout is amongst other factors determined by revenue generated directly or indirectly from various departments including Investment Banking. Evaluation is largely on an activity-based system that includes some of the following criteria: reports generated, timeliness, performance of recommendations, knowledge of industry, quality of research and investment guidance, and client feedback. Analysts and all other Research staff are not directly compensated for specific Investment Banking transactions.




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