Liberty Gold Corp.'s (LGD:TSX; LGDTF:OTCQB) latest drill results from the F zone at its Black Pine project "show continuity between two previously distinct pits," one in the Discovery zone, the other in the CD zone, reported National Bank of Canada analyst Rabi Nizami in an August 30, 2022 research note.
"Today's results validate and extend this mineralization, filling in the gaps between earlier resource pits, as expected," Nizami added.
Drill results are from 17 holes placed in a roughly 750 meter (750m) area in the previously, but not extensively, drilled F zone between CD and Discovery, noted Nizami.
A comparison of the new F zone intercepts with previously reported ones show them to be similar, Nizami highlighted. Specifically, the new results average 0.50 grams per ton gold (0.5 g/t Au) over 24m, and the older results average 0.52 g/t Au over 13m. Widths, however, are slightly greater in the recent data, "which is encouraging."
Nizami presented these highlight assays from the latest batch:
- 0.95 g/t Au over 18.3m, including 1.03 g/t Au over 16.8m from surface (hole LBP657)
- 0.74 g/t Au over 38.1m, including 0.87 g/t Au over 30.5m from surface (hole LBP660)
- 0.84 g/t Au over 36.6m, including 0.97 g/t Au over 30.5m from surface (hole LBP662)
Liberty is expected to release additional drill results from Black Pine and Goldstrike throughout the coming months and update the Black Pine resource estimate next year, likely in H1.
The National Bank of Canada has an Outperform rating and a CA$1 per share price target on Liberty, the current share price of which is about CA$0.43.
| Want to be the first to know about interesting Gold investment ideas? Sign up to receive the FREE Streetwise Reports' newsletter. | Subscribe |
Disclosures
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Liberty Gold Corp. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with: None. Please click here for more information.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
Disclosures For National Bank of Canada, Liberty Gold Corp., August 30, 2022
Financing risk: There is risk to our valuation that future financing terms are less attractive than we currently model which could result in greater dilution to shareholders or more onerous debt constraints Lack of economic study at Black Pine: With a maiden resource but no publicly available economic study at Black Pine, there is a risk that the eventual study contains less attractive economics than we model.
Exploration risk: Our investment thesis considers exploration upside. There is no assurance that the company will realize exploration success in the future.
Permitting risk: The Company’s portfolio of projects in the United States will be subject to environmental regulations and governmental approvals, and permits will be required to advance the projects to production.
Company related disclosures:
National Bank Financial Inc. has provided investment banking services for this issuer within the past 12 months.
National Bank Financial Inc. has acted as an underwriter with respect to this issuer within the past 12 months.
National Bank Financial Inc. or an affiliate has managed or co-managed a public offering of securities with respect to this issuer within the past 12 months.
National Bank Financial Inc. or an affiliate has received compensation for investment banking services from this issuer within the past 12 months.
The issuer is a client, or was a client, of National Bank Financial Inc. or an affiliate within the past 12 months.
This Report was prepared by National Bank Financial Inc. (NBF), a Canadian investment dealer, a dealer member of IIROC and an indirect wholly owned subsidiary of National Bank of Canada. National Bank of Canada is a public company listed on the Toronto Stock Exchange. The particulars contained herein were obtained from sources which we believe to be reliable but are not guaranteed by us and may be incomplete and may be subject to change without notice. The information is current as of the date of this document. Neither the author nor NBF assumes any obligation to update the information or advise on further developments relating to the topics or securities discussed.
The opinions expressed are based upon the author(s) analysis and interpretation of these particulars and are not to be construed as a solicitation or offer to buy or sell the securities mentioned herein, and nothing in this Report constitutes a representation that any investment strategy or recommendation contained herein is suitable or appropriate to a recipient’s individual circumstances. In all cases, investors should conduct their own investigation and analysis of such information before taking or omitting to take any action in relation to securities or markets that are analyzed in this Report. The Report alone is not intended to form the basis for an investment decision, or to replace any due diligence or analytical work required by you in making an investment decision.
This Report is for distribution only under such circumstances as may be permitted by applicable law. This Report is not directed at you if NBF or any affiliate distributing this Report is prohibited or restricted by any legislation or regulation in any jurisdiction from making it available to you. National Bank of Canada Financial Markets is a trade name used by National Bank Financial Inc. and National Bank of Canada Financial Inc.
Research Analyst: The Research Analyst(s) who prepared these reports certify that their respective report accurately reflects his or her personal opinion and that no part of his/her compensation was, is, or will be directly or indirectly related to the specific recommendations or views as to the securities or companies. NBF compensates its Research Analysts from a variety of sources. The Research Department is a cost centre and is funded by the business activities of NBF including = Institutional Equity Sales and Trading, Retail Sales, the correspondent clearing business, and Corporate and Investment Banking. Since the revenues from these businesses vary, the funds for research compensation vary. No one business line has a greater influence than any other for Research Analyst compensation.
