close
close

Liberty Gold Announces Approval of Fourth Plan of Operations Amendment for Black Pine Oxide Gold Project, Idaho

Permitted exploration area increases by 51% to 37.3 km2 Drilling on seven high priority targets is scheduled to begin in mid-June 2024

VANCOUVER, British Columbia, June 11, 2024 (GLOBE NEWSWIRE) — Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) (“Liberty Gold” or the “Company”) is pleased to announce that it has received final approval from the United States Forest Service (“USFS”) for an amendment to the current Exploration Plan of Operations (“POO”) for the Black Pine Oxide Gold Project, Idaho (“Black Pine”). This approval authorizes exploration activities on USFS lands on which the Company holds mineral property but for which it did not previously have a drill permit. In addition, the Company has hired a Director of Regulatory Affairs and Sustainability to advance mine permitting processes with federal and state authorities.

Operating plan and expansion of the property area

This new USFS permit amendment expands the current area for permitted exploration from 24.7 square kilometers (“km2”) by 51% to 37.3 km2 (see Figure 1 below). This will enable the Company to explore seven new target areas where the prospective and profuse gold host carbonate sequence (“middle plate”) is known to occur at shallow depth beneath the sandstone caprock (“upper plate”).

In addition, the amended POO directs the Bureau of Land Management (“BLM”) to begin issuing a Hardrock Prospector Permit (“HPP”) for adjacent highly prospective areas. The HPP would release an additional 7.1 km.2 of the land for approved exploration activities.

The Company has also staked 46 unpatented mining claims in the southwest of the project area totaling 3.3 km in length.2These claims are adjacent to the existing project area and cover the planned southern extension of the potential Middle Plate host carbonate sequence identified by field and structural mapping and soil geochemistry. The newly acquired land expands the total project area to 69.3 km2.

Pete Shabestari, Vice President of Exploration, commented: “We would like to thank the US Forest Service for their careful and efficient processing of this amendment. The approval of the amendment reflects the working relationship we have built with the authorities over the past seven years and the well-managed and straightforward nature of the permitting process at Black Pine. With this new permit, we can now direct exploration drill rigs to search for gold in these promising targets..”

FIGURE 1 – BLACK PINE PROJECT AND PERMIT AREA MAP

Click here to view a map of the Black Pine Project and permit area:

Field Operations 2024

Field work at Black Pine has begun in earnest, with the first reverse circulation (“RC”) drill rig expected to arrive in mid-June and a second in mid-July. The first phase of planned exploration drilling is 20,000 metres (“m”) and will focus on new discoveries in the seven remote target areas, with the primary objective of expanding Black Pine’s current resource base, which already stands at over 3 million ounces. (see news release dated February 15, 2024)

Appointment of Matt Zietlow as Director of Regulatory Affairs and Sustainability

The Company is also pleased to announce that Matthew Zietlow has joined Liberty Gold as Director, Regulatory Affairs & Sustainability based in Idaho. He will be responsible for leading the mine permitting process at Black Pine with the objective of submitting the Mine Plan of Operations (“MPO”) to the appropriate regulatory authorities by Q4 2024.

Mr. Zietlow has over 30 years of experience in mining permitting, operational compliance, reclamation and closure at numerous active and abandoned sites throughout the Western United States. He has held senior positions in community affairs, media relations and academic advisory boards in the mining sector and has also served as Chair of the Nevada Mining Association's Environmental Committee.

ABOUT LIBERTY GOLD

Liberty Gold is focused on the exploration and development of open pit oxide deposits in the Great Basin of the United States, where large gold projects ideally suited to open pit mining are located. This region is one of the most prolific gold producing regions in the world, stretching from Nevada to Idaho and Utah. We know the Great Basin and are committed to discovering and developing large gold deposits that can be profitably mined using open pit mining.

For more information, visit libertygold.ca or contact:

Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or toll free 1-877-632-4677
info@libertygold.ca

All statements in this news release, other than statements of historical fact, are “forward-looking information” within the meaning of applicable securities laws with respect to Liberty Gold, the use of proceeds from the Offering, the timing and completion of the Preliminary Feasibility Study, the timing and completion of the formal mining permit and the potential quantity and/or quality of Liberty Gold's minerals and mineral resources. Forward-looking information can often, but not always, be identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “scheduled”, “expect”, “project”, “predict”, “potential”, “seek”, “intend”, “believe”, “potential” and similar expressions or describe a “goal” or variations of such words and expressions or state that certain actions, events or results “may”, “should”, “could”, “would”, “may” or “will” be taken, occur or be achieved. Forward-looking statements are not guarantees of future performance and are based on a number of estimates and assumptions made by management at the time the statements are made, including, among other things, assumptions about future gold and other metal prices, foreign exchange and interest rates, favorable operating conditions, political stability, timely receipt of regulatory approvals and financing, renewal of existing licenses and permits and receipt of required licenses and permits, labor market stability, stability of market conditions, timing and success of future sustainable development, health, safety, environmental, community development plans and objectives, successful resolution of disputes and anticipated costs and expenses and timing of regulatory approvals. Many assumptions are based on factors and events beyond Liberty Gold's control and there can be no assurance that they will prove to be correct.

Such forward-looking information involves known and unknown risks that may cause actual results to differ materially from future results expressed or implied by such forward-looking information, including risks associated with the interpretation of results and/or reliance on technical information provided by third parties with respect to the Company's mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future commodity prices; possible fluctuations in grade or recovery rates; cost and timing of developing new deposits; failure of equipment or processes to perform as expected; failure of contracting parties to perform; timing and success of exploration activities generally; delays in permitting; potential claims against the Company; labor disputes and other risks of the mining industry; delays in obtaining regulatory approvals, completing exploration and those factors detailed in the Company's Annual Information Form dated March 28, 2024 under the section entitled “Risk Factors” under Liberty Gold's SEDAR+ profile at www.sedarplus.ca.

Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. No assurance can be given that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

Primary Logo

Anna Harden

Learn More →

Leave a Reply

Your email address will not be published. Required fields are marked *