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67.1 m grading 1.78 g/t Au including 32.0 m grading 3.14 g/t Au from surface

VANCOUVER, B.C. – Liberty Gold Inc. (LGD - TSX) ("Liberty Gold" or the "Company") is pleased to announce initial drill results from the Mineral Mountain Target at the 100% controlled Goldstrike Oxide Gold Project in southwestern Utah.  

Mineral Mountain is located in the northwest corner of the project area, approximately 6 km from the Main Zone. The Company has and continues to focus its exploration attention at the Main Zone in order to define a district-scale, oxide gold system.  Results have been received from the first Liberty Gold drill hole program at Mineral Mountain, where historical drill results indicated the presence of gold mineralization.

Highlights from the Mineral Mountain Target include;

  • 1.02 grams per tonne gold (g/t Au) over 13.7 metres (m) and 0.74 g/t Au over 10.7 m in PGS253
  • 1.16 g/t Au over 25.9 m including 3.48 g/t Au over 4.6 m in PGS255
  • 0.58 g/t Au over 6.1 m and 0.51 g/t Au over 7.6 m in PGS264
  • 0.79 g/t Au over 29.0 m including 1.97 g/t Au over 4.6 m in PGS265
  • 0.39 g/t Au over 19.8 m and 0.53 g/t over 6.1 m in PGS268
  • 0.53 g/t Au over 10.7 m in PGS273
  • 1.78 g/t Au over 67.1 m including 3.14 g/t Au over 32.0 m in PGS277

Additional field and geophysical work will be carried out in order to fully understand this area before resuming drilling.

Key Points:

  • The 13-drill hole program is spread out along 1 km of strike of exposed Claron Formation and felsic intrusive rocks. Additional drill results are pending.
  • The interpretative model at Mineral Mountain is similar to the rest of the Goldstrike project area.
  • Mineralization starts at surface in holes PGS255 and PGS277. The mineralized zone in these holes is open to depth and to the south.
  • The Mineral Mountain target is located 1.5 km south of a granitoid intrusion, with a skarn and hornfelsed aurole extending up to 1.5 to 2 km from the intrusion margin.
  • The higher-grade intercepts are partially hosted within felsic dykes related to the intrusion. 
  • Areas of oxidized jasperoid marginal to the dykes, in association with the preferred Claron Formation, also contain gold.
  • The Mineral Mountain intrusion, or buried intrusions related to it, may be drivers of gold mineralization on a region-wide scale, as a source of heat and hydrothermal fluids.   
  • Liberty Gold has staked additional claims to the southeast of the intrusion to link the Live Oak target (see below) to the contiguous Goldstrike Property.

Several other targets with gold mineralization are located in the vicinity of Mineral Mountain, including Black Canyon, a 2 km by 500 m northwest - southeast target area with gold-bearing Claron Formation jasperoid at surface, and the Live Oak target, 2 km to the north of the Mineral Mountain gold target and immediately south east of the intrusion, which contains gold-bearing skarn alteration on surface and in historical drill holes. The Live Oak area is marked by 2 x 1 km gold in soil anomaly, and was tested by a few gold-bearing historic drill holes. Field work and geochemical sampling will be carried out in these areas prior to further drill testing.  Induced Polarization (IP) geophysical surveys, currently in progress in the Main Zone, will be extended into this area later in the year.

Both Mineral Mountain and Black Canyon are covered under the Goldstrike Plan of Operations received in June 2017.

For a complete table of drill results for the current holes, please click here: http://libertygold.ca/sites/default/files/GS_Intercepts07272017.pdf

For a complete table of results for all drilling by Liberty Gold at Goldstrike in 2015, 2016 and to date in 2017, please click here: http://libertygold.ca/sites/default/files/GS_Intercepts2015to07272017.pdf   

For a map of the current drill target areas, please click here: http://libertygold.ca/sites/default/files/Goldstrike_NR201714.jpg

For a map of drill collars and traces for the current release, please click here: http://libertygold.ca/sites/default/files/Goldstrike_NR201714MM.jpg 

Goldstrike is located in the eastern Great Basin, immediately adjacent to the Utah/Nevada border, and is a Carlin-style gold system, similar in many ways to the prolific deposits located along Nevada’s Carlin trend.  Like Kinsley Mountain and Newmont’s Long Canyon deposit, Goldstrike represents part of a growing number of Carlin-style gold systems located off the main Carlin and Cortez trends in underexplored parts of the Great Basin.    The historic Goldstrike Mine operated from 1988 to 1994, with 209,000 ounces of gold produced from 12 shallow pits, at an average grade of 1.2 g/t Au.

Moira Smith, Ph.D., P.Geo., Vice-President Exploration and Geoscience, Liberty Gold, is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and validated that the information contained in the release is accurate. Drill composites were calculated using a cut-off of 0.20 g/t. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals vary between 30% and 100% of the reported lengths due to varying drill hole orientations, but are typically in the range of 60% to 80% of true width. Drill samples were assayed by ALS Limited in Reno, Nevada for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 5.0 g/t were re-assayed and completed with a gravimetric finish. For these samples, the gravimetric data were utilized in calculating gold intersections. For any samples assaying over 0.200 ppm an additional cyanide leach analysis is done where the sample is treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by AAS.  Metallic screen techniques may be employed where the presence of coarse free gold is suspected. Approximately 1000 grams of coarse reject material are pulverized and screened. Two splits of the fine fraction are assayed, as well as all material that does not pass through the screen (the coarse fraction). The final gold assay reported is a weighted average of the coarse and fine fractions. QA/QC for all drill samples consists of the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch. Selected holes are also analyzed for a 51 multi-element geochemical suite by ICP-MS. ALS Geochemistry-Reno is ISO 17025:2005 Accredited, with the Elko prep lab listed on the scope of accreditation.

Goldstrike is an early-stage exploration project and does not contain any mineral resource estimates as defined by NI 43-101.  The potential quantities and grades disclosed herein are conceptual in nature and there has been insufficient exploration to define a mineral resource for the targets disclosed herein. It is uncertain if further exploration will result in these targets being delineated as a mineral resource. Further information on Goldstrike is available in the technical report entitled "Technical Report on the Goldstrike Project, Washington County, Utah, U.S.A.", effective April 1, 2016 and dated October 7, 2016, prepared by Michael M. Gustin, C.P.G. and Moira Smith, Ph.D., P.Geo. found at the top of this page or under Liberty Gold's issuer profile in SEDAR (www.sedar.com).

ABOUT LIBERTY GOLD
Liberty Gold is led by a proven technical and capital markets team that continues to discover and define high-quality assets. Our flagship property is the Goldstrike Oxide Gold Project in Utah.  Liberty also has a pipeline of projects, including Black Pine in Idaho and Kinsley Mountain in Nevada, providing a solid platform for future growth.  Over the past 5 years, there have been 8 new open-pit, heap leach gold mines built around the world and the management team and/or directors of Liberty Gold are responsible for discovering, developing and/or building, two of them.  Long Canyon in Nevada (Fronteer Gold) and Karma in Burkina Faso (True Gold), both reached commercial production in 2016.

For more information, visit www.libertygold.ca or contact:

Evelyn Cox, Director Corporate Communications
Phone: 604-632-4677 or Toll Free 1-877-632-4677
This email address is being protected from spambots. You need JavaScript enabled to view it. 

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Liberty Gold within the meaning of applicable securities laws, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licences and permits and obtaining required licences and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources, timing and likelihood of deployment of additional drill rigs, successful completion of geophysical work, the release of an initial resource report, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.

Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 28, 2017 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR profile at www.sedar.com.

Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.