Source: Streetwise Reports 12/01/2018
In reaching this permitting milestone, the company advances its Utah project.
Liberty Gold Corp. (LGD:TSX) announced in a news release that it received approval to amend its plan of operations for Goldstrike, which allows for expanded access to the Southwestern Utah deposit.
“Receipt of this important upgrade to our Plan of Operations will help address our goal of increasing the total recoverable gold ounces in the Goldstrike deposit to over 1 million ounces and a projected mine life of 10 years or greater,” CEO Cal Everett said in the release. “The expanded access and removal of fixed roads and drill sites will help us meet that goal.” Currently, the base case in the preliminary economic assessment for Goldstrike is 713,000 recoverable ounces and a 7.5-year mine life.
According to the company, this new permit specifically will enlarge and connect access at Goldstrike, resulting in a contiguous 8.66 square kilometer area rather than the previous, fragmented 5.11 square kilometer area.
It also will allow Liberty greater flexibility, in that it now can “operate on site-specific roads and drill pads with fixed locations” whereas in the past it was prohibited from doing so, the release noted.
This means the company may now locate roads and pads for infill and stepout drilling “in and around all of the zones in the current resource.” For example, unlike before, the greater access should allow Liberty to fill in and enlarge the Dip Slope Zone on the northern edge of Goldstrike, “where drill holes on fixed, widely spaced pads do not adequately test the shallowly buried mineralization.”
Sign up for our FREE newsletter at: www.streetwisereports.com/get-news
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. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
Source:: The Gold Report