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Mining Co. Proves Two Gold Zones Connected

Source: Jonathan Egilo

 

September 6, 2022 (Investorideas.com Newswire) New drill results from this Idaho project also showed there is at-surface mineralization of higher grades than the average of the current resource, noted a Desjardins report.


Liberty Gold Corp. (LGD:TSX; LGDTF:OTCQB), through drilling at its Black Pine project, confirmed that one, the CD and Discovery zones are connected and, two, that gold mineralization, graded higher than the average grade of the existing resource, is present at surface, reported Jonathan Egilo, Desjardins analyst, in an August 30, 2022 research note.

"We have been impressed by the recent efforts to add shallow ounces (within about 50m from surface) across the Black Pine property," Egilo wrote. "These ounces all have potential to be highly beneficial when it comes to boosting internal rate of return and lowering Black Pine's payback period."

Egilo also indicated that compared to its peers, Liberty is trading at a discount. Its current share price is around CA$0.43, whereas Desjardins' target price on the Canadian explorer is CA$1.50 per share.

These new mineralization-related discoveries came to light in results of the first, just-reported 17 of 22 holes Liberty drilled in the F zone situated between the CD and the large Discovery deposits. Results of the remaining five holes are pending.

Egilo cited two examples of near-surface, high-grade intercepts. One was 0.95 grams per ton gold (0.95 g/t Au) over 18.3m from surface, in hole LBP657. The other was 0.74 g/t Au over 38.1m from surface, in hole LBP660.

The analyst noted this at-surface material at Black Pine is beneficial in that Liberty could mine it in the early years of production. The deep, high-grade mineralization prevalent in the Rangefront focus area is valuable, too, as it adds ounces to the project resource.

Desjardins rates Liberty a Buy.

Disclosures

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.

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.

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Disclosures For Desjardins Capital Markets, Liberty Gold Corp., August 30, 2022

Company-specific Disclosures: Desjardins Capital Markets has performed investment banking services for Liberty Gold Corp. in the past 12 months. Desjardins Capital Markets has received compensation for investment banking services from Liberty Gold Corp. within the past 12 months.

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