Liberty Gold Corp. has acquired a 60 percent interest McCord Creek Property gold project in central Alaska's Tolovana Mining District.
Liberty Gold will be the project's operator.
The McCord Creek project comprises 14 State mining claims located 70 miles northwest of Fairbanks in the Tintina Gold Belt, which has produced nearly 30 million ounces of gold to date and has experienced accelerated gold exploration, development, and mining activity over the years.
The McCord Creek Property immediately adjoins International Tower Hill Mines’ Livengood Property, which represents a resource estimate of 20.6 million ounces of gold, making it one of the largest gold deposits discovered in 20 years. To the southeast is Kinross Gold's Fort Knox mine, which produces over $1 million of gold equivalent per day, and there are a number of other producing mines in the area.
"The McCord Creek Property acquisition has enabled us to effectively establish a presence in this proven region of Alaska,” said Lynn Harrison, Liberty Gold's President and CEO. “Now we can proceed to build on our knowledge of the property's full mineral potential through further exploration and development activities."
The company is currently developing an exploration plan to evaluate the prospect's mineral potential. A phased exploration approach involving at least two field seasons will be necessary to accomplish an evaluation of the prospect.
The target for the McCord Creek property is a dispersed gold system similar to ITH's Money Knob deposit, and possibly a nickel-platinum disseminated deposit.
Headquartered in Phoenix, Arizona, Liberty Gold has an established portfolio of major gold projects, including
