Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe

TICKERS: LGD; LGDTF

Idaho Gold Project Yields More Impressive Drill Results
Research Report

Share on Stocktwits

Source:

These new 2023 data will help inform the economic study to be done in H2/23, noted a PI Financial report.

Liberty Gold Corp.'s (LGD:TSX; LGDTF:OTCQX) initial 2023 drill results from the M and Rangefront zones at its Black Pine gold project in southeastern Idaho are positive, reported PI Financial analyst Chris Thompson in an April 20 research note.

"We continue to be impressed by Liberty's exploration success at Black Pine," Thompson wrote.

Liberty's share price now is about CA$0.55, and PI Financial's target price on the British Columbia-headquartered mining company is CA$0.90 per share. This price difference implies a 64% return for investors, and Liberty is a Buy right now.

"With the stock currently trading at about 0.3 times net asset value, we see significant value upside as Liberty Gold advances Black Pine to a preliminary economic assessment/prefeasibility study stage of development," noted Thompson.

Mineralization Can Be Expanded

Results of 2023 reverse circulation drilling confirmed that mineralization in Black Pine's M zone could be expanded and thereby boost the current resource, Thompson wrote. Rife areas are the identified west-to-northwest mineralized trend that just returned more near-surface, high-grade intercepts, and around the offset holes, including LBP813, that were drilled.

Recent M zone highlight intercepts include:

  • 2.83 grams per ton gold (2.83 g/t Au) over 25.9 meters (25.9m), including 7.88 g/t Au over 3m: hole LBP849
  • 0.86 g/t Au over 25.9m, including 2.26 g/t Au over 6.1m: hole LBP800

Resources Can Be Upgraded

As for the Rangefront zone, reported Thompson, results of infill and offset holes drilled this year confirmed that resources in the Inferred category could be upgraded to the Indicated category. Further, the zone's margins remain open to the northeast, south, east, and west.

Some new standout intercepts from Rangefront are:

  • 0.72 g/t Au over 35.1m, including 1.83 g/t Au over 6.1m and 0.89 g/t Au over 22.9m: hole LBP861
  • 0.86 g/t Au over 25.9m, including 2.26 g/t Au over 6.1m: hole LBP800


Want to be the first to know about interesting Gold investment ideas? Sign up to receive the FREE Streetwise Reports' newsletter. Subscribe

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.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Liberty Gold Corp. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with: None. Please click here for more information.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

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 decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.




Want to read more about Gold investment ideas?
Get Our Streetwise Reports' Resources Report Newsletter Free and be the first to know!

A valid email address is required to subscribe