Gold explorer's drilling 'confirmed and expanded historical results'
Source: Streetwise Reports 04/17/2018
Mick Carew, an analyst with Haywood Securities, reviewed and analyzed the company's recent drill results from its Idaho project.
In an April 11 research note, analyst Mick Carew with Haywood Securities reported that Liberty Gold Corp. (LGD:TSX) released final data from drilling done at its Black Pine project, which "successfully confirmed and expanded historical results adjacent to historic pits and in established target areas. The results also demonstrate exploration potential beneath the limit of shallow historical drilling."
Carew reminded readers that Liberty began a 13-hole, 2,077 meters (2,077m) drill program last year to test five areas within a 12 square kilometer area that was targeted based on past findings. The new data were from 11 of 13 reverse circulation drill holes. Five holes were from near the North B extension pit, three were in the J anomaly, two were in the Hazel Pine target and one was as from near the South B extension pit.
Two highlight holes, Carew indicated, are LBP004 and LBP011. LBP004 showed:
- 24.4m grading 0.96 grams per ton (0.96 g/ton) gold from a downhole depth of 10.7m, including 1.5m grading 6.18 g/ton gold
- 9.1m grading 1.03 g/ton gold from a downhole depth of 51.8m, including 6.1m grading 1.28 g/ton gold
- 15.2m grading 0.54 g/ton gold from a downhole depth of 111.3m
- 10.7m grading 2.37 g/ton gold from surface, including 9.1m grading 2.27 g/t gold
- 15.2m grading 0.65 g/ton gold from a downhole depth of 106.7m, including 4.6m grading 1.38 g/ton gold
Liberty plans to commence a phase 2 drill program at Black Pine in mid-June, which will "follow up on results from the A basin area, the J anomaly and the B pit extension as well as test other high priority targets," Carew explained.
The analyst noted that for comprehensive drill testing, the company needs a new plan of operations that will "open up access to the entire 12 square kilometer area," which is currently pending.
Upcoming catalysts for Liberty are drill results from another of its projects, Goldstrike, which are expected throughout the year, and advancement of Goldstrike to a preliminary economic assessment decision, which is likely to happen in Q2/18.
Haywood has a Buy rating and a CA$1 per share price target on Liberty Gold, whose stock is trading today at around CA$0.42 per share.
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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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