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TICKERS: LGD

Newly Received Approval Should Help Explorer Increase Recoverable Gold
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Source:

In reaching this permitting milestone, the company advances its Utah project.

Liberty's Goldstrike Project

Liberty Gold Corp. (LGD:TSX) announced in a news release that it received approval to amend its plan of operations for Goldstrike, which allows for expanded access to the Southwestern Utah deposit.

"Receipt of this important upgrade to our Plan of Operations will help address our goal of increasing the total recoverable gold ounces in the Goldstrike deposit to over 1 million ounces and a projected mine life of 10 years or greater," CEO Cal Everett said in the release. "The expanded access and removal of fixed roads and drill sites will help us meet that goal." Currently, the base case in the preliminary economic assessment for Goldstrike is 713,000 recoverable ounces and a 7.5-year mine life.

According to the company, this new permit specifically will enlarge and connect access at Goldstrike, resulting in a contiguous 8.66 square kilometer area rather than the previous, fragmented 5.11 square kilometer area.

It also will allow Liberty greater flexibility, in that it now can "operate on site-specific roads and drill pads with fixed locations" whereas in the past it was prohibited from doing so, the release noted.

This means the company may now locate roads and pads for infill and stepout drilling "in and around all of the zones in the current resource." For example, unlike before, the greater access should allow Liberty to fill in and enlarge the Dip Slope Zone on the northern edge of Goldstrike, "where drill holes on fixed, widely spaced pads do not adequately test the shallowly buried mineralization."

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