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Liberty Gold Corp.
Summary
| Project: | Black Pine | |
|---|---|---|
| Deposit: | Black Pine | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 9/10/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 10-9-2018: Liberty Gold Corp. announces an Exploration/Drilling Update report for its Black Pine deposit at the Black Pine project. Summary of project and recommendations for further work. Mine Development Associates (“MDA”) has prepared this technical re | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Micheal Gustin, Moira Smith (Mine Development Associates Inc.;Internal) | |
| ABSTRACT: | Mine Development Associates (“MDA”) has prepared this technical report on the Black Pine gold project in Cassia County, Idaho, for Liberty Gold Corp. (“Liberty Gold”), which is listed on the Toronto Stock Exchange (LGD). This report has been prepared in accordance with the disclosure and reporting requirements set forth in the Canadian Securities Administrators’ National Instrument 43-101 (“NI 43-101”), Companion Policy 43-101CP, and Form 43-101F1, as amended. 1.1 Property Description and Ownership The Black Pine property consists of a contiguous block of 400 unpatented federal lode mining claims within Cassia County, Idaho that occupy a combined area of 3,713 hectares. The approximate geographic center of the property is 42.082°N latitude and 113.047°W longitude. Annual claimmaintenance fees are the only federal payments related to unpatented mining claims, and these fees have been paid in full through September 1, 2019. County recording fees are also required annually. Liberty Gold’s annual claim holding costs are estimated to be $62,243 in 2019. Liberty Gold is the 100% owner of the Black Pine property, having purchased 345 of the unpatented claims from Western Pacific Resources Corp. (“Western Pacific”) through an agreement dated June 15, 2016. Under this agreement Western Pacific received $800,000 in cash, a 0.5% net smelter royalty (“NSR”) on production from the 345 unpatented claims, and 300,000 common shares of Liberty Gold. Western Pacific subsequently assigned the 0.5% NSR to Deer Trail Mining Company, LLC. Liberty gold expanded the property by staking 55 unpatented claims in October 2016. Mineral production from the entire property is subject to the Idaho Mine License Tax, equivalent to 1.0% of “ores mined or extracted and royalties received from mining”. According to its environmental experts, Liberty Gold is liable only for disturbance incurred as part of Liberty Gold’s exploration activities, or if Liberty Gold causes disturbance of the historical leach pad or other designated areas. | |
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