11:56 AM EDT, 08/27/2025 (MT Newswires) -- (Adds investment bank comment and updates shares.)

Liberty Gold ( LGDTF ) on Wednesday reported the results of a sonic drilling program on the legacy heap-leach pad at the Black Pine oxide gold project in Idaho, confirming the presence of residual cyanide-soluble gold consistent with expectations.

The results highlight a dual opportunity to recover additional gold ounces while repurposing the legacy material for use in the construction of the new heap leach pad at Black Pine.

The relocation of the legacy heap would also improve the Rangefront open pit design, providing mining access to an estimated 250,000 ounces of oxide gold mineralization on the northern margin of the Rangefront deposit.

A resource estimate for the legacy heap leach pad is underway and samples are being prepared for metallurgical testing as part of the feasibility program.

Assay results indicate residual gold grades supportive of potential economic reprocessing, with individual samples ranging from 0.06 to 1.18 grams per tonne gold. The highest grades occurred near the surface.

"Whilst the gold grades are naturally low due to previous processing, it appears there is sufficient recoverable gold to cover the costs of rehandling and reprocessing, which makes this a strong value proposition as we move the heap to unlock the resource and reserve potential below," said chief executive Jon Gilligan.

National Bank of Canada maintained its outperform rating and $0.70 price target at following the company's release..

The price target was based on a 0.60x multiple to project NAV, plus corporate adjustments, the bank said.

Liberty Gold ( LGDTF ) shares were last seen up $0.06 to $0.44 on the Toronto Stock Exchange.

Price: 0.44, Change: +0.06, Percent Change: +15.79