Here s to finding the sweet spot. Black Pine Project

Transcription

1 Here s to finding the sweet spot. Black Pine Project February

2 CAUTIOARY OTES & TECHICAL DISCLOSURES All statements in this presentation, other than statements of historical fact, are "forward-looking information" with respect to Liberty Gold within the meaning of applicable securities laws, including statements with respect to those that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans. 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, receipt of final approval of the TSX, assumptions about future prices of gold, copper, silver 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 licences and permits and obtaining required licences and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources, the accuracy of any metallurgical testing completed to date, successful resolution of disputes and anticipated costs and expenditures. 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 our joint venture partner or other 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 or its joint venture partners; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the completion of exploration as well as those factors discussed in the Annual Information Form of the Company for the year ended December 31, 2018 dated March 26, 2018 in the section entitled "Risk Factors", under Liberty Gold s SEDAR profile at 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 forwardlooking information, whether as a result of new information, future events or otherwise unless required by law. Black Pine is an early-stage exploration project and does not contain any mineral resource estimates as defined by I The potential quantities and grades disclosed herein are conceptual in nature and, there has been insufficient exploration to define a mineral resource for any of the targets disclosed herein. It is uncertain if further exploration will result in these targets being delineated as a mineral resource. Moira Smith, Ph.D., P.Geo, Vice President, Exploration and Geoscience, Liberty Gold, and Qualified Person under ational Instrument ("I "), has reviewed and approved the contents of this presentation. Moira has, to the extent possible, verified that the historic data herein, including the results of drilling, sampling, and assaying by previous operators, is reliable. 1

3 ACQUIRED PAST PRODUCER Acquired 100% of the Black Pine Project from Western Pacific Resources Corporation for US$800,000 cash, 300,000 shares of Liberty Gold and a 0.5% SR reserved to Western Pacific Mining Company (1) Large Carlin-type sediment-hosted gold system in the Eastern Great Basin Past Producer ( ): 435,000 ounces gold at a historical grade of 0.63 g/t from 7 shallow pits (2) Large property position (31.7 km 2 ), 400 federal lode claims with drill-tested oxide gold occurrences throughout Data rich environment over 1,874 historic shallow drill holes (3) with 1,348 uncovered since acquisition from WPR, a large number with unmined oxide gold intercepts Gold in soil anomalies over a 12 km 2 area Detailed data compilation complete. Ongoing 3D interpretive geologic and gold mineralization model generation 13 hole RC infill and step-out drill program carried out in H on existing Plan of Operations (PoO) permit (4) ew PoO received February 12, 2019 Approved to drill project throughout the year (1) See press release dated June 16 th, 2016 for further details (2) From Pegasus Gold internal yearly statements on production and remaining Reserves and Mineralized Material from 1992 to 1997 (3) Historic drill hole results were completed prior to the implementation of ational Instrument A discussion and cautionary language regarding historic data can be found under Cautionary otes and Technical Disclosures in this presentation. (4) See press release dated January 8 th, 2018 for further details 2

4 HISTORIC DRILLIG BY THE UMBERS Shallow, production driven historic drilling (1) : median hole depth of 93 metres only 31 holes drilled over 200 metres Drill holes ending in mineralization: 257 (14%) ending in >0.2 g/t Au 107 (6%) ending in >0.5 g/t Au 37 (2%) ending in >1.0 g/t Au Over 1,874 historic drill holes, 1,350 (72%) have unmined intercepts of >1.5 metres grading >0.3 g/t Au, including: 1.98 g/t Au over 50.3 metres 2.96 g/t Au over 24.4 metres 2.10 g/t Au over 42.7 metres Top 3 mined drill intercepts g/t Au over 19.8 metres 3.81 g/t Au over 68.6 metres g/t Au over 24.4 metres Historical Drill Hole Database includes 102,561 assay intervals, of which: 11,434 (11.1%) returned over >0.5 g/t Au 4,503 (4.4%) returned over >1.0 g/t Au 2017 Drilling: 13 Holes on existing permit, highlight: 77.7 m of 1.49 g/t Au after 39.6 m of 0.58 g/t Au and 15.2 m of 1.10 g/t Au (2) (1) Historic drill hole results were completed prior to the implementation of ational Instrument A discussion and cautionary language regarding historic data can be found under Cautionary otes and Technical Disclosures in this presentation (2) See press release dated January 8 th, 2018 for further details. Drill Hole Depth (m) 5 50 m m m m m Au in Soils (ppb) >50 ppb 1 km 3

5 GOLDE OPPORTUITY Large mineralization footprint, studded with small, shallow pits. 1,348 recently recovered drill holes, asmined topography, blast hole and soil geochem data represent a golden opportunity to revisit shallowly-drilled, production-driven targets last tested in a sub-us$400 gold environment Historic drilling focused on outcropping gold mineralization leaving undrilled potential in target horizons beneath shallow cover 1 km Free gold occurring as disseminated, micron and submicron sized particles in oxidized zones Main stratigraphic host (Middle Plate) is the Pennsylvanian Oquirrh Formation, timeequivalent host to historic gold deposits at Barney s Canyon. Gold was historically mined from all three members of Middle Plate. Upper Plate sandstone caps gold mineralization in underlying Middle Plate Au in Soils (ppb)

6 BLACK PIE GEOLOGY 5

7 BLACK PIE CROSS SECTIO Mined Head Grades 1.5 g/t Au 1.38 g/t Au 0.58 g/t Au 0.6 g/t Au I Pit D Pit C Pit E Pit Tallman Pits B Pits A Pit A Basin Silver Hills SW Ex SW Ex F F F H J SE Ex SE Ex Leach Pads HPX M Looking West 6

8 BLACK PIE POTETIAL Shallow historic drilling and mining of outcropping gold mineralization has left compelling targets at A depth between pits and on pit margins A Modelled Unmined Gold >0.3 g/t Au A A A B B 1 km 7

9 BLACK PIE GOLD I SOILS & GEOLOGY PoO Permit Boundary PoO Permit Boundary E Pit Au in Soils (ppb) C/D Pit B Pit A Pit Tallman Pit 1 km Oblique View, Looking West Middle Plate carbonate rocks (green, purple and blue) all host gold mineralization and historically mined resources Upper Plate sandstone (yellow) caps gold mineralization in underlying Middle Plate Ore zones located predominantly on structural intersections in highly deformed silty limestones above and below Middle Member limestone and dolomite (*old) and below Upper Plate sandstone 8

10 PLA OF OPERATIOS & CURRET OPPORTUITY ew Plan of Operations (PoO) footprint for 141 acres of disturbance within a 7.3 km 2 area in up to 370 drill sites and Here s 49 km to of finding new roads. the sweet spot. E Pit C/D Pit B Pit A Pit Au in Soils (ppb) Tallman Pit 1 km Oblique View, Looking West Unmined Gold Mineralization 7.3 km 2 Plan of Operations Boundary ew Plan of Operations will allow for drilling 12 months of the year Exploration drilling to commence Q

11 BLACK PIE CROSS SECTIOS 10 10

12 BLACK PIE CROSS SECTIOS 11

13 BLACK PIE REPORTED PRODUCTIO Turkey s Evolving Mining Landscape Leapfrog mineralization models are for illustrative purposes and largely unconstrained by a robust geologic model. The intended purpose is to illustrate the relative position of gold mineralized zones to historic mining and topography. Models are subject to change with ongoing study. Europe s largest gold 0.99 Mtonnes producer with annual production of +1.1 mozs and 1.5 g/t +27 Au avg mozs gradeof reserves identified C/D Pit 8.97 Mtonnes 0.58 g/t Au avg grade 188,388 oz Au E Pit 39,934 oz Au B Expansion Pit 1.50 Mtonnes 0.53 g/t Au avg grade 28,842 oz Au B Pit 2.19 Mtonnes 1.38 g/t Au avg grade 88,484 oz Au A Pit Mtonnes 0.6 g/t Au avg grade 198,043 oz Au (1) Yearly production data by pit from Pegasus Gold internal yearly statements on production and remaining Reserves and Mineralized Material from 1992 to 1997 Reserve grade cutoff varied with pit from 0.19 g/t to 0.31 g/t Au Average LOM head grade of 0.63 g/t Au 30% of production averaged 1.2 g/t Au Mined-Out Gold Mineralization I Pit 2.12 Mtonnes 0.47 g/t Au avg grade 29,146 oz Au 1 km Tallman Pit 2.36 Mtonnes 0.9 g/t Au avg grade 62,736 oz Au Tallman E Pit 1.73 Mtonnes 0.53 g/t Au avg grade 26,711 oz Au (1) Ozs to HLF Tallman 62,763 B Pit 88,484 A-Pit 198,043 B Expansion 28,842 C/D Pit 188,388 E Pit 43,233 I Pit 29,146 Tallman E 26,711 Ozs to Heap Leach Facility 109,080 88, , , ,186 26, ,610 Ozs Produced 48,700 66,100 65, ,500 87,900 44, ,780 Calculated LOM Recovery 65% 12

14 BLACK PIE MIE HISTORY Virmya Mining Company, mined 100K tons grading 0.14 opt Au from Tallman Pit by cyanide vat leaching Exploration by ewmont, Gold Resources, Permian Exploration Account, ASARCO, Pioneer uclear, oranda. oranda carried out a Feasibility Study and sold the project to Pegasus Gold Pegasus Gold Mining (Black Pine Mining Inc) Heap Leach Operation Open ground staked by Western Pacific Resources, exploration carried out without Pegasus database 2016 Liberty Gold acquired 100% of project and discovered Pegasus database Pegasus Operation: Valley Fill Heap Leach CIL 435,000 ounces gold produced 189,000 ounces silver produced Average grade ~0.63 g/t Au Average recovery ~65% 31.0 million tonnes of run-of-mine ore 26.5 million tonnes of waste 7 pits mined Up to 33,600 tonnes per day to leach pad Pegasus bankrupt in 1998, heap leach rinsed and reclaimed USFS holds $1.5 million reclamation bond to cover monitoring of heap Oblique View, Looking southwest 13

15 METALLURGY AD OPERATIOS SUMMARY Better metallurgical work and project design and execution could significantly improve recovery relative to the historical operation Pre-Production Metallurgy 77.8% to 87.4% Gold recovery results from 6 cyanide column leach testing on 0.5 to 3.0 inch material Cyanide leaching gold recovery improved with decreased size fraction Some column leach samples required agglomeration Some mineralized material associated with pregrobbing organic carbon Operations Summary 65% LOM gold recovery Run of mine ore no crushing o agglomeration Yearly gold recoveries varied from 54.4% to 80% depending on ore type Improvements made to the cyanide solution distribution system occurred in the last year of production Low recovery can likely be attributed to: Poor ore control of carbonaceous material and up to 11 Mtonnes of clay-rich ore Early poor leach field operations o ore crushing 14

16 HIGH GRADE, MIED DRILL ITERCEPTS 3.81 g/t Au g/t Au 1.42 g/t Au 3.24 g/t Au g/t Au 2.90 g/t Au 7.94 g/t Au 6.50 g/t Au 5.59 g/t Au E Pit 0.83 g/t Au 0.80 g/t Au C/D Pit B Pit A Pit Tallman Pit 1.41 g/t Au 1.65 g/t Au 1.03 g/t Au Composited from historic raw drill assay data. Historic drill hole results were completed prior to the implementation of ational Instrument A discussion and cautionary language regarding historic data can be found under Cautionary otes and Technical Disclosures in this presentation 2.58 g/t Au 2.26 g/t Au 1.76 g/t Au 2.09 g/t Au 1.58 g/t Au 1 km 15

17 HIGH GRADE, UMIED DRILL ITERCEPTS 1.29 g/t Au 2.60 g/t Au 1.50 g/t Au Silver Hills 4.49 g/t Au 1.98 g/t Au 2.30 g/t Au 2.10 g/t Au 1.40 g/t Au 6.66 g/t Au 1.15 g/t Au E Pit A Basin 1.49 g/t Au 0.91 g/t Au 1.56 g/t Au C/D Pit B Pit A Pit J Anomaly 1.30 g/t Au 1.05 g/t Au 2.96 g/t Au 0.72 g/t Au 0.46 g/t Au Tallman Pit 1.18 g/t Au 0.87 g/t Au 1.10 g/t Au 0.90g/t Au 2.12 g/t Au 1.52 g/t Au 1.67 g/t Au 0.57 g/t Au SE Ex Anomaly Composited from historic raw drill assay data. Historic drill hole results were completed prior to the implementation of ational Instrument A discussion and cautionary language regarding historic data can be found under Cautionary otes and Technical Disclosures in this presentation 1 km 16

18 BLACK PIE GOLD MIERALIZATIO >0.3 g/t Au Leapfrog mineralization models are for illustrative purposes and are unconstrained by a robust geologic model. A 25m buffer around drillholes limits the model from gross overestimation. The intended purpose is to illustrate the relative position of gold mineralized zones to historic mining and topography to drive drill targeting. Models are subject to change with ongoing study and modelling. There is no current mineral resource estimate as defined by I for the Black Pine Project and it is uncertain if further exploration will result in these targets being delineated as a mineral resource. E Pit Waste Dump Mined-Out Gold Mineralization C/D/I Pit Unmined Gold Mineralization B Pit Tallman Pit A Pit Waste Dump Leach Pad Oblique View, Looking West 1 km 17

19 BLACK PIE SOILS & UMIED GOLD >0.3 g/t Au Leapfrog mineralization models are for illustrative purposes and are unconstrained by a robust geologic model. A 25m buffer around drillholes limits the model from gross overestimation. The intended purpose is to illustrate the relative position of gold mineralized zones to historic mining and topography to drive drill targeting. Models are subject to change with ongoing study and modelling. There is no current mineral resource estimate as defined by I for the Black Pine Project and it is uncertain if further exploration will result in these targets being delineated as a mineral resource. Unmined Gold Mineralization Gold in Soils 0.1 >1.0 g/t Au Gold in Soils (ppb) Oblique View, Looking West 1 km 18

20 BLACK PIE PRIORITY TARGET SUMMARY Based on historic Pegasus Gold data. There is no current mineral resource estimate as defined by I for the Black Pine Project and it is uncertain if further exploration will result in these targets being delineated as a mineral resource. Silver Hills E Pit Extension B-A Deeps A Basin Unmined Gold Mineralization F Trend Undrilled Soil Anomaly H Anomaly Historic Drilled Target SW Ex Anomaly Pit Extension Target J Anomaly B Pit Extension C/D/I Pit Extension Tallman Extension A Pit Extension Au in Soils (ppb) SE Ex Anomaly Oblique View, Looking West 1 km 19

21 BLACK PIE 2017 DRILLIG 13 holes on existing Plan of Operations 2,077 metres 5 targets tested 2 nd Liberty Gold hole (LBP002) drilled the best unmined intercept on the property beneath historic gold mineralization: 77.7 m of 1.49 g/t Au after 39.6 m of 0.58 g/t Au and 15.2 m of 1.10 g/t Au (1) Validated Liberty s thesis that significant gold mineralization remained beneath shallow historic drilling (107 historic holes ended in >0.5 g/t Au) (1) See press releases dated January 8 th and April 11 th 2018 for further details 20

22 BLACK PIE 2017 Drilling 13 holes on existing Plan of Operations 2,077 metres 5 targets tested LBP g/t Au over 7.6m inc g/t Au over 4.6m and 0.60 g/t Au over 18.3 m LBP g/t Au over 24.4m inc g/t Au over 1.5 m and 1.03 g/t Au over 9.1 m and 0.54 g/t Au over 15.2 m5 LBP g/t Au over 39.6 m inc g/t Au over 4.6 m and 1.10 g/t Au over 15.2 m inc g/t Au over 7.6 m and 1.49 g/t Au over 77.7 m inc g/t Au over 15.2 m and inc g/t Au over 3.0 m and inc g/t Au over 6.1 m LBP g/t Au over 33.5m and 0.45 g/t Au over 9.1 m and 0.69 g/t Au over 24.4 m5 LBP g/t Au over 10.7m and 0.65 g/t Au over 15.2 m Inc g/t Au over 4.6 m5 (1) See press releases dated January 8 th and April 11 th 2018 for further details 21

23 Corporate Inquiries LGD: TSX LGDTF: US West Hastings Street Vancouver, BC V6E 2E9