Liberty Gold Stock Price, News & Analysis

Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) has announced promising initial results from its 2023 Reverse Circulation drill program at the Black Pine Oxide Gold Project in Idaho. Significant findings include:

• M Zone: 2.83 g/t Au over 25.9 m and 2.13 g/t Au over 21.3 m with high-grade intercepts of up to 19.2 g/t Au.
• Rangefront Zone: 0.72 g/t Au over 35.1 m and 0.86 g/t Au over 25.9 m.

In total, assay results from 53 holes have been received, targeting mineral resources and mineralization potential in both zones. Liberty Gold plans to add a second drill rig to enhance exploration efforts, focusing on both existing and new target areas. The company holds significant indicated and inferred resources, with plans for further drilling and an economic study scheduled for later this year.

Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) announced the retirement of founder Dr. Mark O'Dea as Chair and Director, effective June 14, 2023. Mr. Rob Pease, the incoming Chair, praised O'Dea's visionary leadership, which has significantly contributed to the discovery and development of large-scale gold deposits in the Great Basin. The company is undergoing succession planning, having recently appointed a new CEO and several VPs, while maintaining a strong treasury. O'Dea, who has been a net buyer of shares over the past 12 years, expressed confidence in Liberty's potential for growth and profitability. His legacy includes fostering a collaborative culture and a commitment to responsible development, which the board aims to uphold.

Liberty Gold Corp. (OTCQX: LGDTF) has amended its previous financial release dated March 28, 2023, correcting the working capital for year-end 2022 from $25,200 thousand to $17,668 thousand. This revision does not affect the overall financial statements of the Company. Key figures include cash and short-term investments of $19,813 thousand and total assets amounting to $47,954 thousand as of December 31, 2022. Despite the correction, Liberty Gold remains focused on exploring and developing oxide deposits in the Great Basin, a region known for its prolific gold production.

Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) reported its financial and operational results for the fiscal year ending December 31, 2022. Key highlights include an updated mineral resource estimate at the Black Pine Project, indicating 2.61 million ounces of oxide gold at an average grade of 0.52 g/t Au. The company also secured water rights and reported significant gold grades from various drill results, confirming continuous mineralization. Financially, Liberty Gold reported a loss of $21.1 million, compared to a $29.7 million loss in 2021. Cash and equivalents amounted to $19.8 million, with total assets at $47.9 million. The 2023 drilling program is set to enhance resource estimate and expansion.

Liberty Gold Corp. has released Phase 4A metallurgical testing results from the Rangefront Zone at its Black Pine Oxide Gold Project in Idaho. The tests achieved an impressive 86.9% weighted average gold extraction, with leaching results showing over 80% of recoverable gold extracted within 10 days. The new data indicates a potential increase in recoverable gold by approximately 4% in the upper plate sandstone unit and 10% in the middle plate limestone unit, set to be included in the upcoming resource update. The results underscore a low-cost, efficient heap leach processing route, significantly de-risking the project prior to feasibility studies.