Black Pine, a past-producing open-pit, run-of-mine heap leach mine, was operational from 1991 to 1997. During that period, Pegasus Gold produced 435,000 ounces of gold and 189,000 ounces of silver from five open pits.
Liberty Gold aims to produce over 2 million ounces of gold from Black Pine across a projected 17-year mine life. In the first five years, the company expects average annual production to reach 183,000 ounces.
The project hosts an indicated mineral resource of 4.16 million ounces of oxide gold, averaging 0.32 g/t Au across 402.6 million tonnes, and an inferred mineral resource of 712,000 ounces at 0.23 g/t Au over 97.7 million tonnes.
Liberty’s stock was trading up 3% Tuesday morning. The company has a C$129 million ($93 million) market capitalization.
