The company continues to intercept multiple thick intervals of oxide gold mineralisation at the D-3 zone above the 0.2 grams per tonne cut-off grade, with oxide gold mineralisation encountered from surface to over 300m depth.

Highlights include 22.9m grading 1.41g/t and 56.4m grading 1.51g/t including 24.4m grading 2.36g/t.

"Definition drilling in the D-1 and D-3 zones continues to deliver zones of high-grade oxide gold mineralisation and reinforces the concept that the Black Pine mineralised system consists of a series of stacked high grade oxide gold zones separated by a halo of mineralised material above a projected 0.2 gram cut-off grade," said Liberty Gold VP exploration and geoscience Moira Smith.

D-3 is roughly parallel to and partially beneath the D-1 zone in a stratigraphic unit modelled to underlie the southern two-thirds of the Black Pine gold system and only partially drill-tested.

Step-put drilling in the south-eastern extension of D-1 also delivered significant thicknesses of oxide gold mineralisation at relatively shallow depths with a highlight of 12.2m grading 1.04g/t.

Reverse circulation drilling is ongoing at Black Pine, with two rigs testing new targets, extending newly identified targets and expanding on drilling carried out in 2019. The core drilling program, focused primarily on obtaining large-diameter core for metallurgical testing, was completed in November with assays pending from seven holes. Liberty is expanding its drill permit area to access an additional 4.6km2 of the Black Pine gold system.

Shares in Liberty Gold are trading at C$1.68, valuing the company at $415 million.