Liberty Star Updates Highly Productive Beijing, China Roadshow: Further Interpretation of ZTEM Results
October 28 2013 - 10:47AM
Business Wire
Liberty Star Uranium & Metals Corp. (“Liberty Star” or the
“Company”) (OTCQB: LBSR) is pleased to give an update of the
Beijing, China roadshow hosted by Naru Capital (“Naru”) a division
of naseba. The roadshow, October 11th through October 18th,
was attended by Liberty Star CEO/Chief Geologist Jim Briscoe
and Director Pete O’Heeron, as well as two representatives from
Naru. The presentations were Liberty Star presenting to Chinese
entities separately with two presentations per day. The roadshow
resulted in expressions of interest by all eight of the
pre-qualified Chinese investment entities with all of the groups
requesting additional meetings as soon as the updated version of
the Liberty Star Professional Report (format NI 43-101) is
available. SRK Consulting (“SRK”), Tucson office is nearing
completion of a final draft of the professional report. SRK
authored the first version of the NI 43-101 format report
recommending further work on Liberty Star’s Hay Mountain Project
(NR 110). That recommended work is now complete with very favorable
results and the Company is now ready for the next phase of work, a
phased drilling program. Further conversations with naseba
participants could lead to large scale funding of the work
required to develop the Hay Mountain Project.
Here is Briscoe’s summary of the Naru/naseba China roadshow:
“We have had a very good response from all of our meetings in
Beijing - with the ZTEM results playing a very big role. The
interest is coming from the highest levels of very large mining
companies who are doing mineral exploration all over the world.
However most of them have not previously heard of ZTEM, or our
geophysical contractor Geotech Ltd., but their interest was
palpable as they could see the relationship of the ZTEM results to
the Porphyry Copper Model co-authored by Liberty Star Director, Dr.
John M. Guilbert. They are all looking forward to the 2D Inversions
per Geotech’s recommendations (NR 165), and its relationship to the
vegetation geochemistry and surface and subsurface projections over
the Hay Mountain target. With my more thorough examination of the
ZTEM images there is clearly gradations between the high resolution
contours of the high resistivity core zones which would represent
the porphyry copper low sulfide ore centers and the low resistivity
outer layers which would represent the pyrite halo, always present
and forming classic porphyry copper systems signatures as seen
elsewhere by ZTEM. While the only way to be sure is to drill these
anomalies to see what they are, these are very strong patterns
which are already coupled with our porphyry copper geochemical
signatures from our geochemical sampling data going back 40+ years
and as recent as 2011. Mining exploration geology is like links in
a chain. I have developed these links over some 41 years, of
favorable geology, alteration studies, geochemistry in 4 major
rounds, and now ZTEM electromagnetic geophysics. All of these links
in the exploration chain are favorable, strong and mutually
reinforcing. Except for minor final touches and drill hole
positioning related to the new ZTEM data we are ready to drill as
soon as the necessary financing is available.”
ZTEM Update
According to Geotech’s recommendations 2D inversion data is
being prepared with a proposed due date of October 31st. The 2D
data specifically covers the key centers of the Hay Mountain
detected electromagnetic and magnetic anomalies, and will be
included in SRK’s updated professional report (NR 164).
“James A. Briscoe” James A. Briscoe, Professional Geologist, AZ
CACEO/Chief GeologistLiberty Star Uranium & Metals Corp.
Forward Looking Statements
Statements in this news release that are not historical are
forward looking statements. Forward-looking statements in this news
release include: that the meetings in China and with potential
investors could lead to funding of Liberty Star’s Hay Mountain
Project.
Factors which may delay or prevent these forward-looking
statements from being realized include: our inability to agree with
a potential investor on terms of their participation in the Hay
Mountain Project or any project; we may not be able to raise
sufficient funds to complete our intended exploration or carry on
operations; and possible inability to continue exploration due to
weather, logistical problems or hazards even if funds are
available. Despite encouraging results to date, there may be no
commercial mineral resource at our projects. 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.
Agoracom Investor
Relationslbsr@agoracom.comhttp://agoracom.com/ir/libertystarorLiberty
Star Uranium & Metals Corp.Tracy Myers, 520-425-1433Investor
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