Item
8.01 Other Events.
Liberty
Star hires Geotech Ltd. to update Hay Mountain Project ZTEM data.
On
September 30, 2019 Liberty Star Minerals announced it engaged Geotech Ltd. of Aurora, Ontario, Canada to advance the original
ZTEM and magnetic dataset it gathered at Liberty Star’s Hay
Mountain Project in the airborne geophysical survey performed
in July 2013. Geotech Ltd. will update the dataset to the 3D Inversion level of analysis, both 3D ZTEM inversion, and 3D MVI (magnetic
vector inversion).
This
more sophisticated analysis and interpretation, which Geotech has been developing and improving since the 2013 survey, substantially
enhances the utility of the geophysical dataset already collected at the Hay Mountain Project (the: “Project”). This
new study will produce dramatically improved imagery of the indicated geophysical signatures already apparent at the Project,
elevates Liberty Star’s understanding of the information to current technological standards, and sets the stage for clearer
and more compelling communication of the data to prospective operating partners. Comments CEO Brett Gross, “Combining classic
mineral exploration with state-of-the-art technology, remains the Company’s guiding philosophy. We expect delivery of a
new XRF device for on-site geochemical analysis in November from ThermoFisher Scientific and we are fortunate to have a partnership
with geophysics technology leader Geotech Ltd. The 2013 airborne survey remains an important Liberty Star asset thanks to the
continuing advancement of Geotech’s leading-edge ZTEM technology”.
Liberty
Star completes annual assessment work at Hay Mountain North (“HMN”).
On
September 30, 2019, Liberty Star Minerals announced they are nearing completion of required Arizona State Land Department (ASLD)
assessment work on HMN Mineral Exploration Permit (MEP) lands by the October 4, 2019 deadline for the HMN block. Liberty Star
acquired the HMN block in October 2018. This block of MEP lands, adjacent to, and contiguous with, the Company’s original
Hay Mountain Project (the “Project”), added approximately 6 square miles nearly doubling the size of unpatented mineral
holdings at the Project.
Field
Manager Jay Crawford used a ThermoFisher Scientific Niton XL3t GOLDD+ x-ray fluorescence (XRF) handheld device to conduct geochemical
surface studies over the area and has extended the biogeochemical study area to include HMN, fulfilling ASLD annual assessment
requirements. Jay reports the equipment worked efficiently and produced high quality data and he looks forward to the November
delivery of a brand new, and more sophisticated, Niton XL5 XRF device.
“This
type of assessment work does much more than simply satisfy ASLD MEP retention requirements. It significantly increases our understanding
of the potential mineral content of these lands,” said Mr. Gross, President and CEO of the Company, “We are very optimistic
that this work will produce the types of confirming correspondence with the existing geophysical (ZTEM) signature already apparent
in the HMN block that the same work has done at the original Hay Mountain Project site next door. We believe this data will dramatically
expand the compelling geophysical and geochemical indicators of potential mineralization present throughout the Project and is
further evidence of a porphyry cluster related to the larger Tombstone caldera.”
Liberty
Star organizes operational components for Earp Ridge Mines LLC.
On
September 30, 2019 Liberty Star Minerals announced the formation of Earp Ridges Mines LLC (“Earp Ridge”) on April
11, 2019. The Company has now completed assembly of the internal corporate infrastructure, e.g. bank accounts, tax registration,
accounting systems, etc., to fully support Earp Ridge’s operational functionality.
States
CEO Brett Gross, “This represents a substantial step forward in the Company’s ability to facilitate engagement of
an operating partner at the Hay Mountain Project. While the copper price is working against explorers for the moment, we all know
that will not stand in the long run. When that situation changes, we are ready and open for business.”