Gold, Copper Explorer Liberty Star Receives Field Report, Big Chunk Alaska
TUCSON, Ariz.--(BUSINESS WIRE)-- Liberty Star Uranium & Metals Corp. ("Liberty Star" or the "Company")(LBSR: OTCQB) is pleased to announce CEO, Chief Geologist James A. Briscoe has received a preliminary activity report from Field Manager Jay Crawford and the geologic team recapping the 2012 drilling program at the Company's Big Chunk Super Project.
The Field Manager reports that the Nikovena Camp was left in good condition and the drill hole capped for the 2013 drilling season, planned to begin May 15, 2013. Other report highlights:
Drill equipment and staff performed well in the field. The same equipment is suitable for next season's drilling program.
Core sample splits are in transit to the Company's Tucson warehouse for more detailed examination and logging by Briscoe and the Liberty Star geologic staff.
Photographic and instrument readings indicate the presence of porphyry copper markers, including broken rock (breccia) through the entire depth of the hole that has been re-cemented and pervasively chloritized, with disseminated pyrite, and finely disseminated copper pyrite (chalcopyrite) and occasional spots of moly (molybdenite). Near the bottom of the hole, several tens of feet of fluidized pebble dikes (characteristic of the porphyry copper environment) were cut. Felsic dikes with copper and moly were also cut.
The split core samples will be forwarded within the next 2 to 3 weeks to the MEG prep lab near Reno, Nevada. After suitable preparation, including thorough crushing, pulverizing, and homogenization and splitting out a 200 gram sample, randomization and insertion of control samples, and blind repeat samples - known as quality assurance/quality control (QA/QC), 200 grams of each sample will be air shipped to the Certified ALS Assay facility in Vancouver, BC, Canada for assay for 64 elements. Those results will then be added to the geologic log of the drill hole. Final conclusions can then be drawn.
States Company CEO Jim Briscoe: "The early indications are that we are seeing a porphyry copper zone. We must drill additional holes adjacent to or deeper in our first hole to intercept the copper gold zone associated with this target which is one of between 4 to 12 we have identified which lie within our claims. A return to the Nikovena Camp and our south block is planned in May. In the interim we will concentrate our efforts on our Hay Mountain claims in southeast Arizona."
"James A. Briscoe" James A. Briscoe, Professional Geologist, AZ CA
Liberty Star Uranium & Metals Corp.
About Liberty Star's Big Chunk Super Project:
Liberty Star, through its wholly owned Alaska subsidiary, Big Chunk Corp., holds exclusive mineral exploration rights to 612 state mining claims in two blocks covering approximately 177 square miles in southwestern Alaska. The Big Chunk claims were initially staked in 2003 along the Big Chunk caldera, which is believed to host Northern Dynasty Minerals'/Anglo American's Pebble Project. Liberty Star has recently conducted exploratory drilling on specific targets for porphyry copper, gold, molybdenum (moly), silver and zinc. SRK Consulting submitted a NI 43-101 compliant technical report on the Big Chunk Super Project in 2010: available on Liberty Star's web site http://www.libertystaruranium.com/.
Forward Looking Statements:
Statements in this news release that are not historical are forward-looking statements. Forward-looking statements in this news release include the same equipment is suitable for next season's drilling program, photographic and instrument readings indicate the presence of porphyry copper markers, the split core samples will be forwarded within the next 2 to 3 weeks to the MEG prep lab near Reno, Nevada, and that the early indications are that we are seeing a porphyry copper zone. Factors which may delay or prevent these forward-looking statements from being realized include: we may not be able to raise sufficient funds to complete our intended exploration, keep our properties or carry on operations; and an inability to continue exploration due to weather, logistical problems, labor or equipment problems or hazards even if funds are available. Despite encouraging data there may be no commercially exploitable mineralization on our properties. Readers should refer to the risk disclosures in the Company's recent 10-K and the Company's other periodic reports filed from time to time with the Securities and Exchange Commission.
KEYWORDS: United States North America Alaska Arizona
The article Gold, Copper Explorer Liberty Star Receives Field Report, Big Chunk Alaska originally appeared on Fool.com.
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