Liberty Gold Stretches Black Pine’s Reach In Idaho

TL;DR

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Liberty Gold reported gold mineralization outside the existing resource boundary at the Rangefront deposit within its Black Pine project in Idaho. The company says the results may support resource growth and help refine mine designs; a 50,000-metre drilling campaign is under way, with an updated resource expected in the first half of next year.

Liberty Gold has drilled oxide gold mineralization beyond the existing resource boundary at the Rangefront deposit in its Black Pine project in southeastern Idaho, reporting an 18.3-metre interval grading 1.27 grams of gold per tonne. The results could support resource growth and inform designs for the proposed mine, as the company continues drilling and advances permitting and engineering.

In a statement Thursday, Liberty said drill hole LBP1347 intersected 18.3 metres grading 1.27 grams of gold per tonne, starting at 233.2 metres downhole. That interval sits within a broader 144.8-metre intercept grading 0.36 gram per tonne from a depth of 167.6 metres. The reported lengths are downhole intervals, not true widths, so they do not necessarily represent the actual thickness of the mineralized zone.

Liberty said drilling has traced oxide gold mineralization at Rangefront about 200 metres north of the current resource boundary and across a width of up to 400 metres. The zone remains open to the north, according to the company. Another hole, LBP1341A, returned 62.5 metres grading 0.42 gram per tonne from 222.5 metres downhole, including 4.6 metres at 1.42 grams per tonne from 265.2 metres.

A 50,000-metre reverse-circulation drilling program is under way at Black Pine. Liberty expects an updated resource in the first half of next year and is targeting 25 million to 35 million tonnes of inferred material for possible upgrading to the indicated category. The company also said work has clarified the deposit’s eastern boundary, information relevant to the proposed heap-leach pad design.

How Rangefront Drilling Could Shape Black Pine

Drilling beyond an existing resource boundary can add evidence for mineralization that may be considered in later resource estimates, but it does not itself establish a larger formal resource. Liberty’s results give the company additional geological information as it develops Black Pine and works toward a potential 2028 construction decision.

The results also bear on engineering. The company says defining the eastern edge of the deposit can help it finalize the design of a proposed heap-leach pad. More drilling and technical work will be needed to establish how the new intercepts fit into mine plans, and whether they can be included in an updated resource or affect project economics.

Black Pine’s development is at a stage where drilling, permitting and engineering are progressing alongside one another. The project entered the federal government’s FAST-41 program in January, which is intended to coordinate permitting for covered projects. That designation is a process step, not an approval to build or operate a mine.

Black Pine’s Resource and Mine Plan

Black Pine is a past-producing, Carlin-style oxide gold deposit in Idaho’s Great Basin. Pegasus Gold operated the mine from 1991 to 1997, producing about 435,000 ounces of gold and 198,000 ounces of silver. Liberty acquired the property in 2016 and is now advancing exploration and development across the project, including drilling at the Discovery, J and Rangefront zones.

A feasibility study released in September described a proposed 16-year open-pit, heap-leach operation. It forecast average production of 202,000 ounces of gold annually during the first five years. The study reported probable reserves of 433.3 million tonnes grading 0.29 gram per tonne, containing 4.04 million ounces of gold, effective Aug. 1.

The study estimated initial capital costs of $411 million and an after-tax net present value of $2.4 billion, using a 5% discount rate and an assumed gold price of $3,250 per ounce (C$4,550). It also estimated a 61% internal rate of return and a two-year payback period. These are study estimates based on stated assumptions, not realized results or guarantees; later studies, permitting, construction costs and market conditions could change the outlook.

““Overall, the drill results from the early stages of the 2026 campaign have expanded the mineralization footprint in Rangefront and provided ample data to de-risk engineering designs.””

— Owen Nicholls, Liberty Gold’s director of technical services

What the New Intercepts Do Not Establish

The reported intercepts do not confirm that Black Pine’s formal mineral resource or reserve has increased. Liberty said the drilling could support resource growth, but an updated estimate is still pending. The company’s target of 25 million to 35 million tonnes of inferred material for possible upgrading is a goal, not a completed classification or independently reported outcome.

The full extent of Rangefront mineralization is also unknown: Liberty says the zone remains open to the north, meaning further drilling is needed to define its limits. The source material does not provide a detailed plan for when individual assays will be released or quantify how the new results might affect mine design, costs or production forecasts.

Project timing remains subject to further technical work and permitting. A potential 2028 construction decision is a stated development objective, not a confirmed construction start or authorization. The reported feasibility-study economics likewise depend on its assumptions and may change as the project advances.

More Drilling and a Resource Update

Liberty plans to continue the 50,000-metre program, including infill work at Discovery, J and Rangefront and exploration for extensions at the F and M zones. The company expects additional assay results as drilling progresses and an updated resource in the first half of next year.

That estimate should clarify whether the new Rangefront drilling changes the project’s reported resource. Liberty is also continuing permitting and detailed engineering, including work on the proposed heap-leach pad. The company has identified a potential construction decision in 2028, but its timing and any subsequent construction plans will depend on project work and regulatory progress.

Key Questions

What did Liberty Gold report at Black Pine?

Liberty reported an 18.3-metre interval grading 1.27 grams of gold per tonne in drill hole LBP1347 at the Rangefront deposit. It said drilling has extended oxide gold mineralization beyond the existing resource boundary.

How far does the reported mineralization extend?

Liberty said drilling outlined mineralization about 200 metres north of the current resource boundary and up to 400 metres wide. The zone remains open to the north, so its full extent has not been established.

Have Black Pine’s resources increased?

Not on the basis of these results alone. Liberty said the drilling could support resource growth, but a revised resource estimate is expected in the first half of next year.

When could Black Pine reach a construction decision?

Liberty is advancing the project toward a potential 2028 construction decision. That is a target, not a confirmed approval or construction start, and permitting and engineering work continue.

What is the proposed Black Pine mine?

A September feasibility study outlined a proposed 16-year open-pit, heap-leach operation. It forecast average production of 202,000 ounces of gold annually during the first five years, based on the study’s assumptions.

Source: rss