News

Maiden Drill Results ‘Rekindling the Fervor’ at Explorer’s Utah Gold Project

September 10, 2021 (Investorideas.com Newswire) A Haywood Securities report noted that “initial 2021 reverse circulation results highlight deep value in Liberty Gold’s asset portfolio.”

image

In a Sept. 9 research note, Haywood Securities analyst Geordie Mark reported that the first drill results from Liberty Gold Corp.’s (LGD:TSX; LGDTF:OTCQB) Goldstrike in Utah bode well for the project.

They “demonstrate the potential to not only derisk the asset through migration to prefeasibility analysis but also the concurrent potential to grow the defined asset through the drilling campaign and potentially augment the value of this under-rated asset,” Mark wrote.

Further, noted Mark, additional exploration work could enhance project economics by altering the project resource grade, given the high-grade mineralization the drill bit recently hit. The current Goldstrike resource, as updated in 2018, amounts to 925,000 ounces (925 Koz) of 0.5 g/t Au in the Indicated category and 296 Koz of 0.47 g/t Au in the Inferred category.

The Goldstrike preliminary economic assessment (PEA), Mark indicated, outlined an open-pit to heap-leach operation producing about 715 Koz annually throughout the mine’s 7.5-year life at an all-in sustaining cost of US$793 per ounce. Using a US$1,700 per ounce gold price, the net present value discounted at 5% for the Goldstrike operation was forecasted to be US$292 million and the internal rate of return, 52.4%.

Mark reviewed the just reported maiden reverse circulation drill results from Goldstrike, which are for 17 holes over 2,216 meters (2,216m) placed in the historic Hamburg pit, part of the main zone from which most of the project resource came) and the Beavertail deposit, southwest of Hamburg. Some highlight intercepts are from three holes.

From Hamburg, hole PGS 748 returned 22.9mm of 2.09 g/t Au, including 9.1m of 4.36 g/t Au. PGS 754 showed 15.2m of 3.6 g/t Au, including 6.1m of 7.75 g/t Au.

At the Beavertail target, hole PGS 739 demonstrated 12.2m of 1.02 g/t Au, including 1.5m of 6.01 g/t Au.

Turning to Liberty Gold’s Black Pine project in Idaho, Mark reiterated that the initial resource estimate compiled for it in July “furnishes an initial proof of concept of the Black Pine deposit, which we view capable of eventually supporting a multimillion-ounce, low-cost, heap-leach project in a tier one jurisdiction.”

Upcoming catalysts for the exploration company include additional drill results from both Goldstrike and Black Pine as well as a Black Pine PEA, expected in Q3/21.

Haywood has a Buy rating and a CA$2.75 per share target price on Liberty Gold, the shares of which are trading today at around CA$1.22 per share.

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.

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. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Liberty Gold Corp., a company mentioned in this article.

More Info:

Investorideas.com Newswire

This news is published on the Investorideas.com Newswire – a global digital news source for investors and business leaders

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com

Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

Gold Mining Stocks - Gold Mining Stocks Directory, Gold Stocks News, Research and Resources

Gold-MiningStocks.com – investing ideas in gold and mining stocks

Like Gold Stocks? View our Gold / Mining Stocks Directory

What's your reaction?

Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

You may also like

Leave a reply

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

More in:News