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Residual Gold Present in Historical Leach Pads at Utah Asset

Source: Chris Thompson

August 15, 2022 (Investorideas.com Newswire) This means the pads could be leached again, and cyanide solubility test results indicate the process could be done economically, noted a PI Financial report.

Liberty Gold Corp.'s (LGD:TSX; LGDTF:OTCQB) recently completed sonic drilling and subsequent cyanide solubility testing relative to its Goldstrike project generated positive results, in turn, creating a potential opportunity for the mining company, reported PI Financial analyst Chris Thompson in an August 9, 2022 research note.

Thompson reviewed the two sets of results. He explained that the British Columbia-headquartered company conducted 23 holes of sonic drilling over 815 meters (815m) of two historic heap-leach pads at its oxide gold project in Utah to determine whether or not they contained residual gold.

Indeed, they did, noted Thompson. All of the holes returned a concentration of gold that was thick and above the cutoff grade. This indicates the pads had not been fully heap-leached previously and could be re-leached.

For instance, hole PGS891 in Leach Pad 1 returned 1.02 grams per ton gold (1.02 g/t Au) over 25.9m, including 2.17 g/t Au over 9.1m.

In Leach Pad 2, hole PGS873 showed 0.63 g/t Au over 36.6m, including 0.75 g/t over 29m.

Next, Liberty Gold conducted cyanide solubility testing on some of the material drilled from the heap-leach pads, and it showed "a good correlation between grade and solubility," wrote Thompson. For instance, some of the higher-grade gold intervals proved to be more than 90 percent soluble in cyanide.

These test results indicate re-leaching of the two historical pads could be done economically, Thompson highlighted.

Other work planned for Goldstrike this 2022 season includes metallurgical and reverse circulation (RC) drilling, noted Thompson. Once that is done, the company will move the RC drill rig to its Black Pine project, where it will conduct resource drilling and testing of new targets.

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.

PI Financial, Liberty Gold Corp., August 9, 2022

Analyst Certification: I, Chris Thompson, hereby certify that all of the views expressed in this report accurately reflect my personal views about the subject securities or issuers. I also certify that no part of my compensation was, is, or will be, directly or indirectly related to the specific recommendations or views expressed in this report. I am the research analyst primarily responsible for preparing this report.

Applicability:

1. PI Financial Corp. and its affiliates' holdings in the subject company's securities, in aggregate exceeds 1% of each company's issued and outstanding securities.

2. The analyst(s) responsible for the report or recommendation on the subject company, a member of the research analyst's household, and associate of the research analyst, or any individual directly involved in the preparation of this report, have a financial interest in, or exercises investment discretion or control over, securities issued by the following companies.

3. PI Financial Corp. and/or its affiliates have received compensation for investment banking services for the subject company over the preceding 12- month period.

4. PI Financial Corp. and/or its affiliates expect to receive or intend to seek compensation for investment banking services from the subject company.

5. PI Financial Corp. and/or its affiliates have managed or co-managed a public offering of securities for the subject company in the past 12 months.

6. The following director(s), officer(s) or employee(s) of PI Financial Corp. is a director of the subject company in which PI provides research coverage.

7. A member of the research analyst's household serves as an officer, director or advisory board member of the subject company.

8. PI Financial Corp. and/or its affiliates make a market in the securities of the subject company.

9. Company has partially funded previous analyst visits to its projects.

General Disclosures: The affiliates of PI Financial Corp. are PI Financial (US) Corp., PI Financial Services Corp., and PI Capital Corp. Analysts are compensated through a combined base salary and bonus payout system. The bonus payout is amongst other factors determined by revenue generated directly or indirectly from various departments including Investment Banking. Evaluation is largely on an activity-based system that includes some of the following criteria: reports generated, timeliness, performance of recommendations, knowledge of industry, quality of research and investment guidance, and client feedback. Analysts and all other Research staff are not directly compensated for specific Investment Banking transactions.

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