Hay Mountain Project: Drill Holes Selected on Two Outcrops Showing High Grade Copper

Hay Mountain Project: Drill Holes Selected on Two Outcrops Showing High Grade Copper

Liberty Star makes decision to drill holes on the two gossan outcrops showing high grade copper, discovered in Sept. at Hay Mountain. Encouraging results will dictate another 9 holes resulting in a line of 11 holes bisecting the main porphyry anomaly in an east –west direction will be drilled.

James A. Briscoe, CEO/Chief Geologist, Liberty Star Uranium & Metals Corp.

As an update to our recent web posts of 9/23 & 24 /2015, we have located some very high grade outcrops near the geochemical high derived from our vegetation sampling.

In the course of detailed mapping of pervasively brecciated limestone, we came to the conclusion that in the area which we call the Chrysocolla Block where we first discovered oxide copper in outcrop, careful mapping and evaluation leads us to believe it the lower Earp formation because of a red clay marker bed at the base of the exposed limestone breccia.  This characteristic of the Earp and should put us near the base of that formation about 200 to 400 feet above the Horquilla limestone, the major mineral host in the region.   After ID of the lower part of the Earp, which had been mistaken for the overlying Colina formation, our skarn consultant (who was working on a not so distant drill project in the same type of rocks, containing high grade copper) pointed out that if we were at that stratigraphic level we might be right above high grade copper mineralization.  This correlates with our geophysical cross sections: see graphics below.

This is the specific target we have been searching for before kicking off a drill program.  This development of discovery by use of the Niton and lots of boots on the ground carefully observing rocks gave us this completely unexpected outcrop; we have made the breakthrough we needed.

This find is exciting and meaningful because it is the largest exposure so far located at Hay Mtn., and is similar to outcrops in the Bisbee mining district 15 miles to the south.

My apologies to non-technical readers making sense of  these technical descriptions, however, this outcropping oxidized mineral occurrence, taken with our recent work in the area, confirms increasing mineral intensity over the previous geochemical and geophysical anomalies (see slides below) and is direct confirmation of the type of mineralization we are dealing with.  This is of course not a confirmed ore body: we must drill extensively, conduct engineering studies, and make financial calculations before we can state that we have an ore body at Hay Mountain. Previously we were working with indirect geochemical, geophysical and geologic interpretation; this is direct evidence.  This direct evidence coupled with our studies which indicate the geology had been erroneously mapped and the Earp, was identified as the Colina limestone which would have much further above the favorable horizon of the Horquilla limestone.

 

Drilling Planned-Permitting Underway

Two drill holes have been spotted over the two sites of the gossan outcrops which are about 600 feet apart.  We are working on permitting these two sites plus 9 other holes across the heart of the geochemical- geophysical anomaly.  With positive geological/mineral encouragement, we will continue to drill vertical diamond core holes to as deep as 2,000 feet.  Bedding is horizontal to slightly inclined at the site of the first two holes. If horizontal bedded ore grade copper or other metals are intercepted we will drill 45 degree angle holes N, S, E & W to determine width, thickness and shape of the mineralization. Careful examination of newly available high resolution color imagery suggests continuity of altered surface around these two high grade exposures.   Within a short distance along the line of holes the beds are highly broken, contorted and brecciated which is characteristic of the porphyry copper geologic environment: this is a good environment for lining out an important ore body.

The sequence of events of work:

  1. Apply for a slightly altered drill permit (currently in preparation) from the Arizona State Land Department to make a slight change in the location of the first holes from where we had previously anticipated them to be along with other required permits. This we believe will take 60 days.
  1. During the 60 days cited above continue on with careful geology and Niton work in areas within the large geochemical anomaly which had not been worked on yet.
  1. Do road work on access roads. This will be minimal as we have already designed and permitted 60 foot wide “paths” so that we should be able to drive most vehicles over them with no road work. This should take a week.
  1. This should give us a start time of about January, 2016

We plan on holes up to 2,000 feet deep but could be shallower. Each hole would take 20 days to drill and cost about $200,000 to drill if drilled to total depth.

RISK FACTORS FOR OUR COMPANY ARE SET OUT IN OUR 10-K AND OTHER PERIODIC FILINGS FILED WITH THE SEC ON EDGAR.

VIEW ENTIRE PRESENTATION AS PDF

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Liberty Star Uranium & Metals Corp.

Tracy Myers520-425-1433
Investor Relations

info@LibertyStarUranium.com

Jim Briscoe          520-907-9492

CEO/President/Chief Geologist

jbriscoe@libertystaruranium.com

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Investor Relations
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tmyers@LibertyStarUranium.com

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