Date: 5/21/12
Price: Free
SmallCap Network provides comprehensive research and opinions on LBSR.
Liberty Star Receives SRK Consulting’s NI 43-101 Style Technical Report on Big Chunk Super Project (LBSR)
Liberty Star Uranium & Metals Corp. (OTC: LBSR), on Tuesday, announced the receipt of SRK Consultng’s NI 43-101 style technical report covering the Big Chunk Super Project for porphyry copper, gold and molybdenum in southwestern Alaska.
The report, which tool almost a year to complete, compared the Pebble deposit and the Big Chunk project point by point including geology, geochemistry, geophysics and rock types. The report showed that all of the holes drilled at Big Chunk back in 2004-05 were in porphyry copper propylitic alteration zones just like the propylitic zone around Pebble.
SRK has concluded in its report that the best targets identified by geochemical sampling and geophysical surveys of 2009, have yet to be drilled. SRK said in the report that it has reviewed the existing data and based on it concludes the project information generated to date has defined exploration concepts and specific exploration targets that are worthy of follow-up work, primarily exploration drilling on defined targets.
SRK also gave its recommendation for 2011-2012 Phase 1 Exploration program proposed by LBSR, saying that it is justified.
SRK concluded that the drilling at Big Chunk has not yet thoroughly tested the type, character and distribution of mineralization and indication s of porphyry Copper-Gold mineralization are present although the drilling has only intercepted the outer or upper propylitic alteration zones that normally surround a porphyry Copper-Gold system.
James Briscoe, CEO and Chief Geologist of Liberty Star, said that the SRK technical report confirms what LBSR has surmised about the area; there are multiple targets that, according to the latest imaging techniques, mirror what exists at the nearby Pebble Project, perhaps the largest gold-copper porphyry systems in the world.
Briscoe said that the with the prices of copper, gold and molybdenum at such high levels, the time has arrived to pick the best targets on the Big Chunk claims and move to the next phase of exploration. Briscoe said that he is currently working on detailed drilling plans and has tasked LBSR’s President Larry Liang to find funding for the project.
LBSR is currently in discussions with a number of potential partners for funding the project.
Ed Liston is a paid contributor of the SmallCap Network. Ed Liston's personal holdings should be disclosed above. You can also view SmallCap Network's complete disclaimer and disclosure.
