Liberty Star Uranium & Metals Corp. (“Liberty Star” or the “Company”)(LBSR: OTCQB) is pleased to announce the submission of the Class III Archeological Report (the “Report”) to the Arizona State Land Department (“ASLD”). The Report fulfills the ASLD requirement to complete an archeological study of Company lands held under State Mineral Exploration Permits (“MEPs”) which can now be surface sampled and drilled, with discovery leading to State Mineral Leases. This report will be available on the Company web site. The Report, submitted by Jim Moses of Antigua Archeology, LLC, found no substantial archeological remains that would delay exploration of the Hay Mountain MEPs. Liberty Star also holds federal mining claims in adjacent areas over federal land. These claims do not require an archaeologic study, and have already been sampled.
The Arizona MEP process requires the submission of archeological studies in a professional archaeological report, which the state will evaluate and approve recommendations. This approval precedes all geologic field work which disturbs the surface, including geochemical studies. The Company directed Antigua to cover all possibilities for future geochemical and drilling activities, in order that the Company has the freedom to select its own priorities for such work without permitting delays. As a result, on approval, the Company may conduct sampling in increments to determine where it is most important to have a close spaced survey grid in preparation to determine final positioning of drill holes. The Report submitted today to ASLD comprised 32 potential drill sites along with 5.45 miles of associated access roads. Additional sample lines were included so that a square grid survey (at 100 meters x 100 meters) would allow the field staff to conduct further work to help more closely define the details of the anomaly which thus far has included markers for gold, copper, moly, lead and rare earth elements (4 of 17).
The 100 meter sampling grid, which if carried out within both the REE, gold, copper, moly & lead anomalies would require another 2,672 samples. Liberty Star will do further sampling in increments to determine where it is most important to have a close spaced grid in preparation to final positioning of drill holes, from a selection of the 32 permitted sites, as well as others on the federal mining claims. Because of the cost-effectiveness of doing this required archaeological study while the archeological assessment team is on site rather than a piecemeal approach, the Company ordered the additional drill and geochemical sites surveyed, as well as currently identified potential drill targets. These multiple additional permitted sites will allow Liberty Star to have more options of drill site selection during the exploratory drilling phase.
Additionally, Liberty Star has approximately two square miles of State MEPs that were acquired after the initial geochem results were plotted on maps over previously acquired land. Antigua Archaeology will complete another survey and report of the additional lands which, on approval of the ASLD, will then undergo initial geochemical sampling for 77 elements, including all 17 rare earth elements at our initial sample grid of 200 meters by 400 meters. Interpretation will determine if we will keep these MEPs and do further geochem work leading to drilling on them.
About Hay Mountain, Southeast Arizona
The Hay Mountain block of the Tombstone Super Project (Cochise County, Arizona) consists of 57 unpatented federal lode mining claims in addition to 15 Arizona State Mineral Exploration Permits (MEPs). MEPs are the first step in completing an Arizona State Land Mining Lease. The Company has completed the required assessment work to hold the MEPs. This land position covers a geologically, geophysically and geochemically indicated completely covered porphyry copper-moly-silver-gold, and rare earth elements mineral center. One major target within the Hay Mountain claim block is defined along with four other smaller targets. Liberty Star has recently discovered a large intrusion - indicated by an aerially extensive low flight level magnetic survey - under and partially exposed in and around the Tombstone caldera (NR 129). Mineralization is clearly associated with this intrusive body.
“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. 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.