Liberty Gold Corp. on Feb. 8 reported a maiden resource estimate for the Goldstrike oxide gold project in southwestern Utah after three years of drilling and data processing in 1,730 holes for a total of 153.0 kilometers.
At a cutoff grade of 0.25 g/t of gold, Goldstrike hosts 865,000 ounces contained within 49.6 million tonnes in the indicated category and 274,000 ounces in 16.4 million tonnes in the inferred resource category.
President and CEO Cal Everett said the maiden resource exceeded initial expectations and the company would continue to drill and expand the deposit and surrounding areas when it restarts exploration March 1.
The maiden resources are based on drilling in the Dip Slope, Peg Leg and Western zones as well as the Mineral Mountain area. Most of the property remains unexplored or incompletely tested, including large areas extending from the Dip Slope zone that remain open in several directions, giving rise to potential for resource expansion.
