Liberty Star Uranium & Metals Corp. (“Liberty Star” or the “Company”) (LBSR: OTCQB) is pleased to announce that new geochemical field work will be conducted on a portion of its Hay Mountain claim block, part of the larger Tombstone Super Project (TSP). Also, preliminary archaeology surveys of the new sample locations are nearing completion.
As the worldwide demand for rare earth elements exploration heats up, the Hay Mountain rare earth anomaly covering at least 7 to 9 square miles gains importance. Until the Liberty Star discovery Arizona had no important REE occurrences (“Rethinking Rare Earth Element Potential in Arizona,” Lee Allison 11/15/2012). We have samples of one heavy rare earth (yttrium) plus three light rare earths (see below) and are now planning to define the potential of this area by running assays for the 13 REEs that haven’t been run yet as well as taking additional samples for better definition of the anomalies.
Rock, soil and vegetation samples will be collected on recently acquired claims (NR 143) and in between existing samples to identify and refine additional targets for porphyry copper and associated minerals including gold, silver, moly, zinc and a number of rare earth elements. According to Arizona State Land Department regulations an additional archeology study will be required before work can begin. The field work for this study is within a few days' completion. Only two very small archaeological sites which are insignificant have been located to date.
As samples from this new geochemical study reach our certified assay lab, ALS Geochemistry in Vancouver, they will undergo analysis for all 17 rare earth elements. Previous assay work on TSP samples included review for only four rare earth elements (scandium, yttrium, lanthanum and cerium), which were present in soil samples (NR 122) and vegetation samples (NR 123). Also, Liberty Star will request that assay work for additional REEs be completed on samples submitted to the ALS facility in 2012 (NR 127).
States Liberty Star's CEO and Chief Geologist Jim Briscoe: “This round of geochemical studies is part of our methodical approach to exploration we must undertake so that a ZTEM survey can be flown over the larger Tombstone Super Project area this spring. It is important that we have these geochemical studies plotted to better understand where to map targets at Hay Mountain. While time-consuming, these studies can make for a highly efficient drilling program.”
“James A. Briscoe” James
A. Briscoe, Professional Geologist, AZ CA
Liberty Star Uranium & Metals Corp.
Statements in this news release that are not historical are forward-looking statements. Forward-looking statements in this news release include our exploration plans, that field work for the archeology study will be completed soon, that sampling will be started shortly; and that analysis would determine whether REE exists. Factors which may delay or prevent these forward-looking statements from being realized include: the failure of our exploration program to identify targets; 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.