Liberty Gold Corp.'s (LGD:TSX; LGDTF:OTCQB) recently completed sonic drilling and subsequent cyanide solubility testing relative to its Goldstrike project generated positive results, in turn, creating a potential opportunity for the mining company, reported PI Financial analyst Chris Thompson in an August 9, 2022 research note.
Thompson reviewed the two sets of results. He explained that the British Columbia-headquartered company conducted 23 holes of sonic drilling over 815 meters (815m) of two historic heap-leach pads at its oxide gold project in Utah to determine whether or not they contained residual gold.
Indeed, they did, noted Thompson. All of the holes returned a concentration of gold that was thick and above the cutoff grade. This indicates the pads had not been fully heap-leached previously and could be re-leached.
For instance, hole PGS891 in Leach Pad 1 returned 1.02 grams per ton gold (1.02 g/t Au) over 25.9m, including 2.17 g/t Au over 9.1m.
In Leach Pad 2, hole PGS873 showed 0.63 g/t Au over 36.6m, including 0.75 g/t over 29m.
Next, Liberty Gold conducted cyanide solubility testing on some of the material drilled from the heap-leach pads, and it showed "a good correlation between grade and solubility," wrote Thompson. For instance, some of the higher-grade gold intervals proved to be more than 90 percent soluble in cyanide.
These test results indicate re-leaching of the two historical pads could be done economically, Thompson highlighted.
Other work planned for Goldstrike this 2022 season includes metallurgical and reverse circulation (RC) drilling, noted Thompson. Once that is done, the company will move the RC drill rig to its Black Pine project, where it will conduct resource drilling and testing of new targets.
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PI Financial, Liberty Gold Corp., August 9, 2022
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