Goldstrike, gold potential of 70K Oz

Jun 19, 2023

gold resourceGoldstrike, gold potential of 70K Oz

Liberty Gold Corp, provide a progress update on activities related to process water supply, lands exchange and assessing gold recovery potential from the historic leach pads at its Goldstrike Oxide Gold Project in south western Utah.

A block of land surrounding the Goldstrike deposit has been included in a proposed land exchange between The US Bureau of Land Management land exchange with the Utah School and Institutional Trust Lands Administration.

Historic production records report that ~7.25 million tonnes of oxide gold ore at an average grade of ~1.2 grams per tonne gold was leached on the two pads during prior mining operations (1988 to 1994). Based on historic recoveries this indicates that there may be up to 70,000 ounces of gold remaining in the now closed and remediated historic heaps.

Test results herein indicate that a portion of this gold could be amenable to extraction using conventional heap leaching. Leach Pads 1 & 2 and the underlying backfill are located directly over the Main / Hassayampa / Hamburg oxide gold resource and would need to be stripped in a potential future open pit mining operation to access the underlying oxide gold resource.

The Utah School and Institutional Trust Lands Exchange Act of 2023, Senate Bill 1405, was presented to the US Congress in May and is currently in the committee stage in both the House and the Senate. The Company continues to monitor progress of this legislation through the approvals process.

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