In a news release, Liberty Gold Corp. (LGD:TSX; LGDTF:OTCQB) recapped its 2019 financial transactions and exploration results.
For the full-year 2019, Liberty Gold posted a loss of $11.583 million, or $0.05 per share. As of March 26, 2020, it has $15 million in cash and anticipates being fully funded for its 2020 exploration work, to start on March 31, 2020.
Regarding the Great Basin explorer's transactions in 2019, from most recent to oldest, in December, it sold its interest in Kinsley Mountain for $7.5 million, an amount it will receive over two years.
In September 2019, Liberty Gold transacted a bought-deal financing for CA$15.8 million.
In another divestment, the Vancouver-based firm and its joint venture partners agreed in July 2019 to sell Halilağa to for $55 million, from which Liberty Gold is to receive $22 million over three years. Accordingly, it already received $5 million. The deal is scheduled to close on Aug. 15, 2020.
Between July and March 26, 2020, the company received CA$3,327,150 and CA$401,375 from the early exercising of Liberty Gold share purchase warrants related to two 2018 bought-deal financings.
In terms of exploration, the company highlighted the results of its 2019 programs at its two core projects.
At Black Pine in Idaho, drilling illuminated two new discoveries. The gold mineralization encountered there returned exceptional grades, such as 4.39 grams per ton (4.39 g/t) over 53.3 meters (53.3m), including 5.76 g/t over 38.1m and 12.05 g/t over 12.2m. Widths also were good. For example, hole LBP067C showed 2.92 g/t gold over 55.9m including 5.64 g/t gold over 22.1m and 12.4 g/t gold over 7.3m.
Liberty Gold will start 28,800m of reverse circulation drilling at Black Pine at the end of March.
At Goldstrike in Utah, drilling showed that mineralization remains open to extension. Drill result highlights from three areas of focus, the Western, Main and Dip Slope zones, included 1.4 g/t gold over 19.8m, including 2.79 g/t gold over 9.1m as well as 1.15 g/t gold over 27.4m, including 3.39 g/t gold over 6.1m.
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