More Drill Results Expand Areas of Gold at Idaho Project
Source: Geordie Mark
December 1, 2022 (Investorideas.com Newswire) These new data, from three zones at the property, bode well for growing the existing resource there, noted a Haywood Securities report.
Additional drill results from Liberty Gold Corp.'s (LGD:TSX; LGDTF:OTCQB) Black Pine project in Idaho expand known gold mineralization beyond the 2021 resource pit envelope, "demonstrating the promise of resource expansion in updates to come," reported Haywood Securities analyst Geordie Mark in a November 15, 2022 research note. Liberty plans to release a revised resource estimate next year.
"This parcel of results released on the Rangefront, CD, and E zones reinforces our view that the confines of gold mineralization are clearly yet to be determined with the drill bit continuing to return results that likely would expand the 2021 resources," Mark wrote.
The analyst also pointed out that Liberty is trading way below Haywood's target price on it, at about CA$0.405 per share versus CA$2, respectively. This difference reflects a significant potential return for investors of the Buy-rated company.
Mark presented the highlights of this latest batch of drill results for each of these Black Pine areas:
CD zone: Drill results from this zone show shallow gold mineralization that adds to the footprint primarily to the west of the resource, Mark noted. Results include:
- Hole LBP622: 42.7 meters (42.7m) of 0.42 grams per ton gold (0.42 g/t Au) and 21.3m of 0.42 g/t Au
- Hole LBP619: 27.4m of 0.47 g/t Au
E zone: Drilling extended the resource boundary on the western margin, relayed Mark. Results include:
- Hole LBP680: 97.5m of 0.36 g/t Au
- Hole LBP677: 48.8m of 0.55 g/t Au
- Hole LBP682: 47.2m of 0.33 g/t Au
Rangefront zone: Drill results from its western portion returned the highest grades and are "defining a strike length of higher-grade mineralization likely to be converted into resources in 2023," noted Mark. Hole LBP722 demonstrated 2.09 g/t Au over 18.3m. Hole LBP726 demonstrated 1.11 g/t Au over 68.6m.
"Higher grade hits on the Rangefront zone exemplify the potential on this area of discovery," Mark added.
Drilling in the Rangefront's northern segment showed potential to expand the system to the north. This was seen via holes LBP692, which returned 19.8m of 1.67 g/t Au, and LBP696, showing 27.4m of 0.43 g/t Au.
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Disclosures For Haywood Capital Markets, Liberty Gold Corp., November 15, 2022
Analyst Certification: I, Geordie Mark, hereby certify that the views expressed in this report (which includes the rating assigned to the issuer's shares as well as the analytical substance and tone of the report) accurately reflect my/our personal views about the subject securities and the issuer. No part of my/our compensation was, is, or will be directly or indirectly related to the specific recommendations.
Important Disclosures: Of the companies included in the report the following Important Disclosures apply:
Haywood Securities, Inc. has reviewed lead projects of this company and a portion of the expenses for this travel may have been reimbursed by the issuer.
Haywood Securities Inc. or one of its subsidiaries has managed or co-managed or participated as selling group in a public offering of securities for this company in the past 12 months.
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