Drilling Shows Gold System Goes Beyond Operations Plan Area
Source: Geordie Mark
December 21, 2022 (Investorideas.com Newswire) New drill results from this project in Idaho indicate the need for more drilling to determine the true extent of the present mineralization, noted a Haywood Securities report.
Liberty Gold Corp. (LGD:TSX; LGDTF:OTCQB) provided more drill results from its Black Pine project in Idaho that "highlight the 360-degree scope of gold mineralization" there, reported Haywood Securities analyst Dr. Geordie Mark in a Dec. 14 research note.
"[The] Black Pine drilling update highlights expansion potential beyond Rangefront and the U.S. Forest Service (USFS) plan of operations boundaries to the southwest and north," Mark added. "Drilling on the northern and southwestern operations boundary highlight mineralization."
The Canadian exploration company currently has a share price of CA$0.53, which compares to Haywood's target price on it of CA$2 per share. The gap between the two figures implies a significant potential return for investors of 270%.
The new drill results are from the 67-kilometer campaign at Black Pine, encompassing 324 reverse circulation and diamond drill holes. Mark presented the highlighted results from the five drill-tested areas and interpreted the findings.
Tallman South showed the potential to "fold in more shallow resources with additional supportive drilling," Mark wrote. The noteworthy intercept there was 80.8 meters (80.8m) of 0.6 grams per ton gold (0.6 g/t Au) starting at 24.4m downhole from LBP750.
Drill Results from the Bobcat, A Basin Waste Rock Storage, and Rangefront zones "continue to push out at the known margins of the oxide gold mineralized system," wrote Mark.
The best results from each of these were:
- Bobcat: 19.8m of 0.64 g/t Au from surface, hole LBP761
- A Basin Waste Rock Storage: 33.5m of 0.3 g/t Au from 1.5m downhole, hole LBP675
- South Rangefront: 51.8m of 0.57 g/t Au, hole LBP708
"Drill results on the South Rangefront target look interesting and could reveal another shoe to the system's resource footprint, but shallow extensions are called for in future work," wrote Mark.
As for the F zone, the highlight hole, LBP744, returned 47.2m of 0.47 g/t Au from 9.1m downhole.
As the picture of mineralization appears now, Mark wrote, further drilling is needed at Black Pine to test for further expansion and confirm the mineralized systems' extent both within and in several directions beyond the USFS plan of the operations area.
Further drill results are to come from Black Pine, to be followed by a mineral resource update in Q1/23, both potential catalysts for Liberty Gold's stock.
Haywood rates the company Buy.
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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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.
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Haywood Capital Markets, Liberty Gold Corp., December 14, 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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