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Liberty Gold Corp.
Summary
| Project: | Goldstrike | |
|---|---|---|
| Deposit: | Goldstrike | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 8/28/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 28-8-2018: Liberty Gold Corp. announces an Exploration/Drilling Update report for its Goldstrike deposit at the Goldstrike project. Drilling results incl. 36.9m @ 1.41g/t Au from 104.2m. VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or th | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Moira Smith (Internal) | |
| ABSTRACT: | VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased to announce the results from a large-diameter metallurgical core drilling program at the Goldstrike Project, the flagship of its three principal gold projects located in the prolific Great Basin of the United States. Located in southwestern Utah, Goldstrike is a past-producing oxide - heap leach gold mine that contains a large, shallow, district-scale, Carlin-style gold system. Liberty Gold continues to meet its project enhancement goals in 2018, commencing with a maiden resource estimate released in February1 . On July 10, 2018, Liberty Gold released a Preliminary Economic Assessment for Goldstrike (“PEA”)2 , confirming a low capital intensity, low operating cost, open-pit, run-of-mine, heap-leach operation, with a 7.5 year mine life and highly attractive economics, including a post-tax Net Present Value (5% discount rate) of US$129.5 million, Internal Rate of Return of 29.4%, and Initial Capex of US$113.2 million. To aid in further advancement of the Goldstrike Property, a large diameter (PQ) core drilling project was undertaken in order to obtain the material needed to approximately double the number of metallurgical column tests in the resource area from a current 20 columns, primarily located in the Main Zone, to approximately 40, located throughout the resource area. Fifteen PQ diamond core holes, totaling 1,357 metres, were completed. | |
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