Liberty Gold Corp. Reports On International Tower Hill’s New High-Grade Gold Intercepts On Adjoining Livengood Property
PHOENIX, Oct. 1, 2012 – Liberty Gold Corp. (OTCBB: LBGO; “Liberty Gold” and/or “the Company”) is pleased to report on International Tower Hill’s (ITH) August 21, 2012 announcement of new, high-grade gold intercepts surrounding ITH’s main deposit at its Livengood Gold Project in Alaska. ITH’s Livengood Property immediately adjoins the western side of Liberty Gold’s 4,620-acre McCord Creek Property. The Money Knob deposit on ITH’s Livengood Property represents a resource estimate of 16.5 million ounces (Moz) Measured & Indicated at 0.22 grams per tonne cut-off (see ITH website for complete disclosure), making it one of the largest gold deposits discovered in 20 years.
The latest ITH drill results were from a non-exploration directed drill program involving 45 geotechnical and condemnation drill holes in the Livengood project area. According to ITH’s August 21, 2012 news release, assay results from four of the holes drilled returned multi-gram gold intersections (intercepts were calculated using a 0.25 g/t gold cutoff and a maximum of 3 meters of internal waste). ITH stressed that, since the new gold intersections are located well outboard of the main deposit, the results indicated the significant exploration potential of the Livengood district scale gold system while highlighting the potential for further bulk tonnage and high-grade discoveries on the property. ITH Interim CEO, Jeff Pontius, commented in the news release: “It is clear that the Livengood gold system is a District scale gold discovery with significant future potential.”
ITH’s New Selected Drill Intercepts (calculated using a 0.25 g/t gold cutoff and a maximum of 3 meters of internal waste)
HOLE ID FROM (m) TO (m) LENGTH (m) GOLD (g/t)
MK-12-281 51.66 54.42 2.76 2.75
Includes 51.66 53.19 1.53 4.09
MK-12-285 36.70 38.71 2.01 3.47
47.85 54.46 6.61 0.64
MK-12-288 81.38 84.43 3.05 2.48
MK-12.290 124.82 128.63 3.81 6.91
Immediately adjoining the eastern side of ITH’s Livengood Property is Liberty Gold’s McCord Creek Property, which is located in the eastern extension of the Livengood gold district. A work program in 2011 resulted in the discovery of 5 gold-in-soil anomalous zones on the McCord Creek Property with the maximum soil value exceeding 100 parts per billion (‘ppb’) gold. All of the soil anomalies lie within the same sedimentary and volcanic package of rocks that host ITH’s Money Knob deposit. Liberty Gold’s ongoing 2012 McCord Creek work program has collected and submitted 333 samples for analysis with the objective of defining drill targets for the 2013 field season.
Lynn Harrison, Liberty Gold’s President and CEO, commented: “International Tower Hill’s latest drill results underscore the gold potential of the Livengood district. The news only increases our interest in receiving the results from our 2012 work program on our adjoining McCord Creek Property.”
FOR MORE INFORMATION To learn more about the McCord Creek Property, and to read more about the Company and its latest news, visit Liberty Gold’s website at http://www.libertygoldcorp.com.