LGD:TSX; LGDTF:OTCQX

Liberty Gold Corp.

Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining. This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah. We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios.

LGD:TSX LGDTF:OTCQX

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Major Expansion Approved for Black Pine Gold Project

Streetwise Reports (06/13/2024)

Liberty Gold Corp. (LGD:TSX; LGDTF:OTCQX) has announced that it has received final approval from the United States Forest Service (USFS) for an amendment to its Plan of Operations at the Black Pine Oxide Gold Project in Idaho. With drilling underway, find out what this means for the project's future.

Tags: Gold

Gold Co. Receives Approval for Expanded Exploration

Research Report

Alex Terentiew (06/13/2024)

Liberty Gold Corp. (LGD:TSX; LGDTF:OTCQX) recently announced the approval of the fourth Plan of Operations amendment on its Black Pine oxide gold project, according to a Ventum Capital Markets research note.

Tags: Gold

Private Placement To Yield CA$12.5M for Canadian Gold Co.

Research Report

Brian Quast (05/02/2024)

Funds from this and the sale of its ex-U.S. asset will help the company advance its projects in the Great Basin, noted a BMO Capital Markets report.

Tags: Gold

Positive Metallurgical Results Come From Gold Project

Research Report

Brian Quast (03/18/2024)

The weighted average of gold extraction at this Idaho asset is 84.2%, noted a BMO Capital Markets report.

Tags: Gold

With New Drill Results, Co. Adds, Upgrades Gold Ounces

Research Report

Chris Thompson (11/06/2023)

This bodes well for the impending updated resource estimate and subsequent prefeasibility study of the explorer's mining project in Idaho, noted a PI Financial report.

Tags: Gold

New Drill Results Could Expand Gold Resource at Idaho Project

Research Report

Peter Bell (11/01/2023)

These data are from the recent campaign and will be incorporated into the 2024 prefeasibility study, noted a Canaccord Genuity report.

Tags: Gold

Expert Comments:

Brian Quast, BMO Capital Markets (10/10/24) "Exploration results at Black Pine have resulted in Liberty Gold Corp. announcing an initial reserve of 3.1 Moz, while increasing both its Measured & Indicated (M&I) resource (3.2 Moz to 4.2 Moz) and Inferred resource (0.3 Moz to 0.7 Moz). This has resulted in a total inventory (M&I and Inferred) increasing from 3.5 Moz to 4.9 Moz."

Alex Terentiew, Ventum Capital Markets (10/10/24) "We believe Liberty Gold Corp. trades as one of the least expensive developers with an enterprise value/ounce of total resources of just $15 per ounce. As the project's economics are now more clearly defined, we anticipate a rerating of the stock."

Haywood Securities (10/10/24) "Liberty Gold Corp. announce[d] a preliminary feasibility study for the Black Pine project in Idaho, projecting a 17-year mine life with a run-of-mine oxide heap-leach process, producing 2 Moz in total at an average of 135 Koz ounces annually. . .the project offers a 32% internal rate of return at $2,000 gold and would be a nice bolt-on for a midtier producer, once permits are finalized."

	Jordan Roy-Byrne, The Daily Gold (9/15/24) "Liberty Gold Corp. is a stock that should really catch fire and outperform."

Ventum Capital Markets (8/28/24) "Flexing our metal price forecasts by 10% for all producers and developers under coverage, NAVPS growth for Liberty Gold Corp. stands to benefit the most from a further rally in metal prices (initial economic study on Black Pine is due this quarter)."

Jordan Roy-Byrne, The Daily Gold Premium (8/25/24) "[There was a] solid move in Liberty Gold Corp., which has [the] technical set-up to pop much higher soon. Buy on any weakness. Rated accumulate because it popped recently."

More Expert Comments

Jordan Roy-Byrne, The Daily Gold Premium (7/21/24) "Liberty Gold Corp. is a good to very good value in a static gold market. . .if we factor in a real bull market in gold, there is quite a bit more upside."

Jordan Roy-Byrne, The Daily Gold Premium (7/6/24) "Liberty Gold Corp. closed the week up 5%. . .the stock bounced at its 200-day moving average. That is the first hold of a flat or rising 200-day moving average in several years."

Lauren McConnell, Paradigm Capital (6/11/24) "We see significant opportunities for resource expansion at Black Pine, including a number of undrilled, sparsely drilled or shallowly drilled areas that surround the zones in the current resource and lie within soil anomalies, which extend beyond the drill tested areas. We believe with another drill program this will grow to over 4 Moz, and in the longer term believe it will grow beyond the 5 Moz mark."

Alex Terentiew, Ventum Capital Markets (6/11/24) "Liberty Gold Corp.'s expanded exploration permit for Black Pine allows the company to explore at least seven new targets that have been identified. . .drilling of the new target areas is set to commence this month, and considering Liberty Gold's track record of discovering new ounces at Black Pine, we expect defined resources to grow as gaps within the current resource are filled in and boundaries of the resource limits are extended."

Ventum Capital Markets (5/28/24) "Over the long term, we continue to view Liberty Gold Corp. as one of the companies with the most financial upside to higher metal prices. Flexing our metal price forecasts by 10% for all producers and developers under coverage, net asset value per share growth for the company stands to benefit the most from a further rally in metal prices."

	Jordan Roy-Byrne, The Daily Gold (5/26/24) "Liberty Gold Corp.'s stock is a good value and starting to move. . .the company's Black Pine project will regain favor as gold climbs."

Brian Quast, BMO Capital Markets (4/29/24) "Liberty Gold Corp. announced a CA$9.5M nonbrokered, private placement that will close on or about May 17, 2024. . .we view this transaction as positive as this will allow the company to continue to explore and develop the Great Basin."

Alex Terentiew, PI Financial (4/18/24) "Liberty Gold Corp. announced the signing of a definitive agreement to sell its 72.1% interest in the company holding the TV Tower project. . .the transaction is expected to generate gross proceeds of $8.3M in cash to Liberty Gold. We view the sale of TV Tower as a positive development for the company as it will provide cash required for advancing Black Pine and Goldstrike without excessive shareholder dilution."

	Jordan Roy-Byrne, The Daily Gold (4/7/24) "Liberty Gold Corp. is on our Top 10 Watch List. . .a resource update and prefeasibility study are coming for Black Pine in H1/24."

Brian Quast, BMO Capital Markets (3/14/24) "Liberty Gold Corp. has reported a comprehensive metallurgical update for Black Pine. . .overall, greater than 80% of leachable gold was extracted within 10 days with results, including a weighted average gold extraction of 84.2% with extraction rates ranging between 52.7% and 94.2%. We view these results as positive as this demonstrates the potential to add mineralization to its mineral reserves and resources in advance of the prefeasibility study."

Alex Terentiew, PI Financial (3/6/24) "We see room for upside with Liberty Gold Corp. The upcoming prefeasibility study we expect will both clarify the economic potential of Black Pine and also set the stage for development plans, permitting and financing to accelerate, laying the ground work for a construction decision potentially in 2027 or 2028."

Brian Quast, BMO Capital Markets (2/28/24) "Bringing Black Pine to production remains the focus for Liberty Gold Corp. . .the company is confident about putting Black Pine on a development pathway aimed at an 'environmentally simple and technically straightforward' project. Liberty is targeting a decision notice by H2/27."

Chris Thompson, PI Financial (2/15/24) "We are impressed with Liberty Gold Corp.'s revised resource estimate for Black Pine, which beat the company goal of 3 Moz Au at 0.5 g/t (Indicated). With Black Pine now flexing more gold ounces (Indicated and Inferred) than we include in our production model, the resource supports the potential for future gold production above and beyond our estimated ~200 oz Au annual production."

Chris Thompson, PI Financial (1/18/24) "We continue to be impressed by Liberty Gold Corp.'s ability to consistently deliver drilling success at Black Pine. The Back Range zone continues to deliver high-grade material with good recoveries, shaping itself as a key zone in the Black Pine complex."

Chris Thompson, PI Financial (10/31/23) "Liberty Gold Corp.'s northernmost hole (LBP1005) in Black Pine's Back Range zone returned impressive grades, and mineralization remains open. . .highlights include 0.42 g/t Au over 68.6m from 0m, including 1.08 g/t Au over 3m."

Peter Bell, Canaccord Genuity (10/31/23) "Today's assay results from Liberty Gold Corp.'s Black Pine have potential to incrementally increase the resource size at the Rangefront, M zone and Back Range deposits. . .overall, we believe these results bode well for the upcoming prefeasibility [study] on Black Pine."

Chris Thompson, PI Financial (9/7/23) "Liberty Gold Corp. released assays from eight drill holes as part of the 2023 reverse circulation campaign at its Black Pine gold project. . .we see regular drill results consistently adding and upgrading ounces across the project prior to an H2/23 resource update."

Lauren McConnell, Paradigm Capital (9/7/23) "The results of eight holes from Rangefront at Liberty Gold Corp.'s Black Pine show a large area of oxide mineralization that is predominantly outside of the current pit-constrained resource and is still open for expansion to both the north and south; this area is roughly 200m by 200m and extends from near surface to a depth of about 200m."

	Geordie Mark, Haywood Securities (9/7/23) "Liberty Gold Corp.'s results from eight additional reverse circulation drill holes in the Rangefront zone at Black Pine confirm thicker, higher-grade mineralization to the east compared to the current resource model. . .work on the Rangefront zone incrementally derisks it for future resource conversion and mine planning. . .[This is] positive news showing good results in terms of resource size for the project."

Chris Thompson, PI Financial (9/5/23) "Liberty Gold Corp.'s 2023 drill program at Black Pine is advancing well with three reverse circulation rigs operating across target areas. We anticipate exploration news flow throughout H2/23, especially from offset drill holes along the western margin of the Back Range zone; an updated resource estimate is expected by 2023E."

Lauren McConnell, Paradigm Capital (9/5/23) "Liberty Gold Corp.'s drill results from Black Pine released today continue to support our thesis that the current total resource of 3.1 Moz at 0.5 g/t Au will grow to +4 Moz over the next one to two years. . .we continue to believe Black Pine offers a strategically appealing gold project for investors."

	Geordie Mark, Haywood Securities (9/5/23) "Drill results from Back Range at Liberty Gold Corp.'s Black Pine project reveal high-grade potential of shallow gold mineralization that could go towards augmenting the early mining plan in the upcoming preliminary feasibility study. . .Discovery zone results reinforce the scale and continuity of oxide gold mineralization. . .we continue to be encouraged by ongoing exploration success at Black Pine."

Lauren McConnell, Paradigm Capital (8/15/23) "We believe Liberty Gold Corp. should trade at a premium given Black Pine's location, relatively simple process with flexibility, exploration upside and takeover potential. . .we initiate coverage of the company with a Speculative Buy rating."

Chris Thompson, PI Financial (7/24/23) "We continue to be impressed by Liberty Gold Corp.'s exploration success at Black Pine. We see drill results confirming potential for adding and upgrading ounces prior to an H2/23 resource update."

Brian Quast, BMO Capital Markets (7/14/23) "We are initiating coverage on shares of Liberty Gold Corp. with an Outperform (Speculative) rating. The company is emerging as an early stage gold developer with two assets in the prolific Great Basin mining jurisdiction."

Chris Thompson, PI Financial (6/20/23) "We continue to be impressed by Liberty Gold Corp.'s exploration success at Black Pine. We are particularly encouraged by the M zone continuing to intercept high-grade mineralization in stepout drilling from hole LBP813 (first intercepted in February 2023); we now see the oxide mineralized zone extended 80m to the west and 120m to the north."

Chris Thompson, PI Financial (5/15/23) "We attended a site visit to see Liberty Gold Corp.'s Black Pine project. . .we continue to see significant growth potential across numerous zones and anticipate continued resource growth prior to production."

Chris Thompson, PI Financial (5/12/23) "We continue to see Liberty Gold Corp.'s Black Pine as a multimillion-ounce gold development-stage opportunity with exploration upside. . .we feel that Black Pine will be a mine and that permitting will be pretty straightforward."

Chris Thompson, PI Financial (4/20/23) "We continue to be impressed by Liberty Gold Corp.'s exploration success at Black Pine, demonstrated by more near-surface high grade intercepts from the M zone. . .with the stock currently trading at about 0.3 times net asset value, we see significant value upside as the company advances Black Pine to a preliminary economic assessment/prefeasibility study stage of development."

Chris Thompson, PI Financial (3/23/23) "Metallurgical test results from oxide material from the Rangefront zone at Liberty Gold Corp.'s Black Pine project in southeastern Idaho returned encouraging column leach results with a weighted average gold recovery of 86.9%. . .results continue to support a technically simple, low initial capital, low operating cost, run-of-mine heap-leach processing route for Black Pine."

Chris Thompson, PI Financial (2/22/23) "Liberty Gold Corp. released drill results from 2022's reverse circulation drill campaign at its Black Pine gold project. . .grades of 46.7 g/t over 1.52m in a stepout hole from previous drilling well outside resources defined within the M zone come as a pleasant surprise. Also, the Back Range zone's potential to host new area of near-surface, high-grade oxide gold is reflected in results released."

Rabi Nizami, National Bank of Canada (2/10/23) "Liberty Gold Corp.'s updated Black Pine mineral resource totals 3.1 Moz at 0.5 g/t grade (was 2.1 Moz at 0.48 g/t) and adds +1 Moz (+48%) with a slight lift in the average grade (+4%). . .the increase is confidently driven by exploration success alone, not a change in cutoff."

Chris Thompson, PI Financial (2/8/23) "We are impressed with Liberty Gold Corp.'s recent revised resource estimate for Black Pine, which was delivered in line with expectations (both tons and in situ ounces). . .all in all, the resource estimate confirms our view of Black Pine's potential to deliver about 200 oz Au in average annual production over a healthy +10-year life of mine."

	Geordie Mark, Haywood Securities (12/14/22) "Liberty Gold Corp.'s drill results from South Rangefront, A Basin Waste Area and Bobcat continue to push out at the known margins of the oxide gold mineralized system at Black Pine. . .drilling at Black Pine needs to be continued to not only seek expansion and confirmation of the systems' footprints within the U.S. Forest Service plan of operations area but also beyond its boundaries in several areas."

Chris Thompson, PI Financial (12/14/22) "Liberty Gold Corp. released drill results from reverse circulation and core drill holes from its Black Pine project. . .results continue to reflect potential for resource growth and refinement in multiple areas at Black Pine. We anticipate continued drilling at lower elevations during the winter months, aiding the company in refining its Black Pine resource model in preparation for an updated resource estimate, anticipated in Q1/23."

Chris Thompson, PI Financial (12/6/22) "Liberty Gold Corp. announced the completion of a field season together with select drill results from its 100%-controlled Goldstrike project in southwestern Utah. . .results from PQ core and reverse circulation holes support potential offered by Goldstrike as a small but potentially economically viable heap leach oxide gold deposit."

	Geordie Mark, Haywood Securities (11/29/22) "Liberty Gold Corp.'s potential access to future water and power supply for Black Pine have been further derisked as the company has locked up another 1 mm³/year supply in water rights and [received] a positive outcome from an impact study from the Idaho Power Distribution Co. on the supply of up to 10 MW to the Black Pine mine gate. . .this amount of water far exceeds our projections needed to drive our production-oriented cash flow model."

Geordie Mark, Haywood Securities (11/15/22) "Liberty Gold Corp.'s Black Pine posted more drill results that expand known areas of gold mineralization beyond the confines of the 2021 resource pit envelope on the CD and E zones, demonstrating the promise of resource expansion in updates to come. Further, higher-grade hits on the Rangefront zone exemplify the potential on this area of discovery."

Geordie Mark, Haywood Securities (11/8/22) "A set of 13 drill hole results on the M Zone at Liberty Gold Corp.'s Black Pine shows that the system remains open along strike, for at least 750m, and to the northwest, with intrapit drilling proving up continuity of higher-grade gold mineralization of equal or less depth than the pit-constrained resources. The point highlights the likelihood of resource growth through coalescence of resources into one pit that increases the total mass of the resource as well as average grade at a lower waste-to-ore strip ratio."

Geordie Mark, Haywood Securities (11/8/22) "A set of 13 drill hole results on the M zone at Liberty Gold Corp.'s Black Pine shows that the system remains open along strike, for at least 750m, and to the northwest with intrapit drilling proving up continuity of higher-grade gold mineralization of equal or less depth than the pit-constrained resources. The point highlights the likelihood of resource growth through coalescence of resources into one pit that increases the total mass of the resource as well as average grade at a lower waste to ore strip ratio."

Chris Thompson, PI Financial (11/8/22) "The results in today's release from reverse circulation drill holes from the M zone at Liberty Gold Corp.'s Black Pine project reflect relatively high-grade oxide gold mineralization at shallow depths. The M zone consists of two small resource pits separated by a previously undrilled 250m gap, offering potential for a larger pit over about 750m in length."

	James Kwantes, Resource Opportunities (11/2/22) "Liberty Gold Corp. has about 3 Moz of heap-leachable gold at projects in Idaho and Utah as well as a new chief executive officer, Jason Attew. . .the stock looks very cheap at these levels, all things considered."

Experts Following This Company

Peter Bell – Canaccord Genuity
Lauren McConnell – Paradigm Capital
Rabi Nizami, Analyst – National Bank Financial
Brian Quast, Analyst – BMO Capital Markets
	Jordan Roy-Byrne, Editor/CMT – The Daily Gold
Alex Terentiew, Research Analyst, Base Metals – Ventum Capital Markets
Steve Therrien, Analyst – 3L Capital
Chris Thompson, Mining Analyst

Company News

10/10/2024 – Liberty Gold Announces Preliminary Feasibility Study Results for the Black Pine Oxide Gold Project in Idaho, with a 17-year Mine Life and a 32% After-Tax Internal Rate of Return

10/7/2024 – Liberty Gold Closes TV Tower Sale Transaction

9/25/2024 – Liberty Gold Receives Hardrock Prospector Permit at Black Pine Oxide Gold Project, Idaho

9/5/2024 – Liberty Gold Identifies an Outcropping High-Grade Antimony System at the Antimony Ridge Prospect, Goldstrike Oxide Gold Project, Southwest Utah

8/19/2024 – Liberty Gold Provides Update on TV Tower Transaction

8/14/2024 – Liberty Gold Drilling 20,000 Meters at Black Pine After Expanding Exploration Area by 51 Percent

8/12/2024 – Liberty Gold Reports Q2 2024 Financial and Operating Results

7/17/2024 – Liberty Gold Announces 20,000 Metre, Phase 1 Drill Program at Black Pine Oxide Gold Project, Idaho

Important Disclosures
Liberty Gold Corp. is a Billboard advertiser of Streetwise Reports and pays a flat fee. Fees fund both sponsor-specific activities and general report activities. Sponsor-specific activities may include aggregating content and publishing that content on the Streetwise Reports site, creating and maintaining company landing pages, interviewing key management, posting a banner/billboard, and/or issuing press releases. The fees also cover the costs for Streetwise Reports to publish and syndicate investment opinion and comments, and also to curate or create sector-specific content. Billboard advertising monthly fees range from $3,000 to $5,000. This landing page contains a summary of the company that was prepared by that company. Some landing pages contain investing highlights and a catalyst calendar that are prepared by that company. The Expert Comments and Experts Following This Company sections of the landing page are compiled by Streetwise Reports. There may be other information about the company that is not placed on the landing page, and Streetwise Reports does not guarantee the accuracy or thoroughness of the information contained on the landing page. Readers should conduct their own research for all information publicly available concerning the company. This landing page may be considered advertising for the purposes of 18 U.S.C. 1734.

Streetwise Company Fact Sheet

2024/10/15 17:09:24

(LGD:TSX - LGDTF:OTCQX)

Analyst coverage

Canaccord Genuity — Peter Bell

Paradigm Capital — Lauren McConnell

National Bank Financial — Rabi Nizami

BMO Capital Markets — Brian Quast

Ventum Capital Markets — Alex Terentiew

3L Capital — Steve Therrien

— Chris Thompson

Newsletter coverage

—

Company News

View Latest News

Streetwise Reports Articles

06/13/2024 - View Article

05/02/2024 - View Article

03/18/2024 - View Article

11/06/2023 - View Article

Streetwise - Liberty Gold Corp. Ownership Overview*

Liberty Gold Corp. (LGD:TSX; LGDTF:OTCQX)

^*Share Structure as of 6/13/2024

Source: Thomson Reuters

Investing Highlights

	100% ownership/control of two Oxide Gold Projects: Black Pine in Idaho & Goldstrike in Utah
	Experienced mine-finding exploration team
	Management team with proven ability to raise capital through asset sales and from the capital markets

Liberty Gold Corp. Content

Presentations

Cal Everett, CEO and Jon Gilligan, President & CEO, interview with Matt Gordon, Crux Investors March 2024?

Recent Articles:

More Articles

Expert Comments:

Brian Quast, BMO Capital Markets

Alex Terentiew, Ventum Capital Markets

Haywood Securities

Jordan Roy-Byrne, The Daily Gold

Ventum Capital Markets

Jordan Roy-Byrne, The Daily Gold Premium

More Expert Comments

Jordan Roy-Byrne, The Daily Gold Premium

Jordan Roy-Byrne, The Daily Gold Premium

Lauren McConnell, Paradigm Capital

Alex Terentiew, Ventum Capital Markets

Ventum Capital Markets

Jordan Roy-Byrne, The Daily Gold

Brian Quast, BMO Capital Markets

Alex Terentiew, PI Financial

Jordan Roy-Byrne, The Daily Gold

Brian Quast, BMO Capital Markets

Alex Terentiew, PI Financial

Brian Quast, BMO Capital Markets

Chris Thompson, PI Financial

Chris Thompson, PI Financial

Chris Thompson, PI Financial

Peter Bell, Canaccord Genuity

Chris Thompson, PI Financial

Lauren McConnell, Paradigm Capital

Geordie Mark, Haywood Securities

Chris Thompson, PI Financial

Lauren McConnell, Paradigm Capital

Geordie Mark, Haywood Securities

Lauren McConnell, Paradigm Capital

Chris Thompson, PI Financial

Brian Quast, BMO Capital Markets

Chris Thompson, PI Financial

Chris Thompson, PI Financial

Chris Thompson, PI Financial

Chris Thompson, PI Financial

Chris Thompson, PI Financial

Chris Thompson, PI Financial

Rabi Nizami, National Bank of Canada

Chris Thompson, PI Financial

Geordie Mark, Haywood Securities

Chris Thompson, PI Financial

Chris Thompson, PI Financial

Geordie Mark, Haywood Securities