VANCOUVER, British Columbia, July 03, 2024 (GLOBE NEWSWIRE) -- Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) (“Liberty Gold” or the “Company”) is pleased to announce a significant milestone in the advancement of the Black Pine Oxide Gold project, located in southeast Idaho (“Black Pine” or the ”Project”). On Wednesday, June 26, the Company hosted a formal mine permitting kick-off meeting with key representatives from the US Forest Service (“USFS”), the Bureau of Land Management (“BLM”), and the Idaho Department of Lands. The meeting was led by Matt Zietlow, Director of Regulatory Affairs & Sustainability for Liberty Gold.
The primary focus of this meeting was to present a comprehensive framework and draft schedule to resource specialists from the attending federal and state agencies. This framework outlines the strategic plan and necessary deliverables required for the upcoming months in preparation for the formal submission of the Mine Plan of Operations (“MPO”) which is expected to be in Q4 of 2024. During the meeting, Liberty Gold provided an initial outline of the deliverables required from all parties, highlighting the key steps necessary for the timely and efficient completion of the MPO.
The Project represents a significant opportunity for economic growth and job creation in southern Idaho, while maintaining the highest standards of environmental stewardship and community relations. The Black Pine MPO will be supported by a pre-feasibility study on track for completion in Q3 of 2024.
“We are committed to ensuring a transparent and collaborative approach with the agencies, as we move forward with permitting the Black Pine Project,” commented Mr. Zietlow. “This meeting marks the beginning of a crucial dialogue with our regulatory partners and broader stakeholders to align our efforts and ensure all environmental and operational standards meet or exceed international best practices.”
Project activities for the second half of 2024 are focused in three key areas: 1) Completion of the pre-feasibility study, 2) Submission of the draft MPO to USFS to commence formally, the National Environmental Policy Act permitting process and, 3) Exploration drilling on priority target areas on recently permitted ground under the exploration Plan of Operations 4th amendment (see press release dated June 11, 2024) (the “PoO Amendment”).
As part of the approval of the PoO Amendment, the USFS modified the seasonal drilling access guidelines, based on newly acquired baseline data. Under the new, consolidated approval, the majority of the Discovery, Rangefront and M Zone targets are available for exploration drilling year-round. The remaining areas of the project have seasonal access controls, with improved consistency across the jurisdictions of USFS, BLM, and State wildlife management plans. The significantly improved seasonal access to the permitted area is a timely outcome, as we plan future exploration drilling, road construction and other field activities.
ABOUT LIBERTY GOLD 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.
All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to Liberty Gold within the meaning of applicable securities laws, the use of proceeds of the offering, the timing and completion of the Preliminary Feasibility Study, the timing and completion of formal mine permitting, and the potential quantity and/or grade of minerals and Liberty Gold’s mineral resources. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “planned”, “expect”, “project”, “predict”, “potential”, “targeting”, “intends”, “believe”, “potential”, and similar expressions, or describes a “goal”, or variation of such words and phrases or state that certain actions, events or results “may”, “should”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, the timing and success of future plans and objectives in the areas of sustainable development, health, safety, environment, community development; the timing of the submission of the MPO and completion of the pre-feasibility study; successful resolution of disputes and anticipated costs and expenditures and the timing of regulatory approvals. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.
Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 28, 2024 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR+ profile at www.sedarplus.ca.
Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
