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Drill Results from Great Basin Project Reveal Gold Mineralization

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A gold explorer announces drill results for the Goldstrike Oxide Gold Project in Utah that show gold mineralization above the cut-off grade.

Liberty Gold's Goldstrike Project

Liberty Gold Corp. (LGD:TSX) recently announced the results from initial reverse circulation drill testing of the historical heap leach pads and one area of historical mine waste backfill at the Goldstrike project.  This work is the flagship of its three principal gold projects located in the Great Basin of the United States.

Results confirm that the historical leach pads, the back fill below the pad linings and bedrock to depth contain areas of gold mineralization above the cut-off grade used in the Goldstrike Preliminary Economic Assessment.

Some of the highlights of the work are:

  • The results to date support Liberty Gold's thesis that considerable gold remains in surficial deposits created during the historical mining operation, which operated during a period of very low gold prices and much higher ore-to-waste cut-off grades. Heap leach technology has advanced considerably in the last 20 years, with recovery of gold possible from previously leached material.
  • The heap leach pads are underlain by considerable thicknesses of mineralized backfill material.
  • Drill holes encountered areas of unmined mineralization in the pit floors and walls under backfilled areas.
  • Cyanide solubility tests carried out in conjunction with fire assaying of the drill samples from the heap leaches show moderate cyanide solubility. Additional testing will be carried out to determine potential recovery and the best methods to achieve it.
  • Cyanide solubility of backfill material averages 86%.

The company noted that to aid in further advancement and de-risking of the Goldstrike Property, drill testing of the historical heap leach pads, stockpiles, waste dumps and pit backfill is underway.  Most of the areas currently being tested lie within the PEA pit and are classified as waste in the model. Conversion of any of these areas to mineralized leach material would potentially add low-cost ounces to the resource, consisting of gold in material previously drilled, blasted and placed on surface.

An RC drill program is currently underway with two drills, with over 16,000 metres drilled to date.  In addition to testing of the historic heap-leach, stockpile and waste dump areas, infill and step out drilling around the existing resource and testing of new targets property-wide is also underway, Liberty Gold indicated.

Goldstrike is located in the eastern Great Basin, immediately adjacent to the Utah/Nevada border, and is a Carlin-style gold system, similar in many ways to the prolific deposits located along Nevada’s Carlin trend, Liberty stated and indicated that, like Kinsley Mountain and Newmont's Long Canyon deposit, Goldstrike represents part of a growing number of Carlin-style gold systems located off the main Carlin and Cortez trends in underexplored parts of the Great Basin.

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Disclosure:
1) Jake Richardson compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Liberty Gold. Click here for important disclosures about sponsor fees.
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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article. As of the date of this interview, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Liberty Gold, a company mentioned in this article.




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