“The system appears to have a life upon itself, extending beyond the drill bit on several zones and leading outside the boundary of the exploration license,” noted a Haywood Securities report.
Now that Liberty Gold Corp.’s (LGD:TSX; LGDTF:OTCQB) final 2021 drill results from its Black Pine project are in, it is clear the boundaries of the mineralized system there still remain undefined, reported Haywood Securities analyst Geordie Mark in a May 25th research note.
“Importantly, and somewhat unsurprising, is that widespread gold mineralization on Black Pine is yet to be corralled and remained untamed across the entire footprint of the project area and beyond its limits,” wrote Mark.
Consequently, the Canadian exploration company plans to continue drilling there, looking to expand the existing resource. It will concentrate on the Rangefront Focus Area and, simultaneously, other zones with relatively shallow oxide gold mineralization, such as Back, M and F, and the Bobcat target. Liberty aims to start this work in early H2/22.
As for the final drill results from last season, of 20 holes in the Rangefront Focus Area, they are positive.
Hole LBP511CA is the best hole not only in the batch but, also, in the entire project area. It returned 100.4 meters (100.4m) of 1.38 grams per ton gold (1.38 g/t Au) from 274.3m downhole. These results show grade potential and continuity of mineralization in the D-4 discovery area. Another highlight hole is LBP568, showing 68.6m of 0.39 g/t Au from 85.3m downhole.
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Stepout holes showed more shallow mineralization is present. For instance, hole LBD569 returned 19.8m of 0.43 g/t Au from 29m downhole.
The stepout results show “promise for the delineation of shallower gold mineralization that remains open,” Mark indicated. This will be a focus of upcoming drilling “to bring the grade forward in the future mine plan design at as low a strip ratio as possible.”
With respect to Liberty Gold, investors can look forward to its ongoing drill results, from Black Pine and Goldstrike, and its Black Pine preliminary economic assessment, expected in Q3/22, wrote Mark.
Haywood maintains its Buy rating and CA$2.75 per share price target on Liberty Gold, the current share price of which is around CA$0.61 at press time.
1) Doresa Banning compiled 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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Disclosures for Haywood Capital Markets, Liberty Gold Corp., May 25, 2022
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