Copper, Gold, Rare Earth Element (REE) Explorer Revises ZTEM Program at Hay Mountain
TUCSON, Ariz.–(BUSINESS WIRE)–Liberty Star Uranium & Metals Corp. (“Liberty Star” or the “Company”)(LBSR: OTCQB) announces that its fixed wing ZTEM program (NR 151) has been revised. The new flight area will cover the entire current Hay Mountain anomaly area and beyond. Liberty Star has forwarded the required deposit to Geotech.
Should additional funds become available between now and the time of the ZTEM flight, Liberty Star can contract Geotech Ltd. to fly a larger contiguous area, including lands hosting additional known geochemical anomalies. The Company estimates an early July start date or perhaps sooner; exact scheduling of the over-flight depends on Geotech’s schedules, logistics and weather considerations.
Hay Mountain permitting update: The Arizona State Land Department (ASLD) has approved 42 sample locations for rock chip, soil and vegetation geochemical sampling over Arizona Mineral Exploration Permits (MEPs) which have not been sampled yet because of permitting requirements. Other samples will be collected on federal land where no permits are required. Numerous additional sample locations await the ASLD’s approval within our current anomalies to provide better definition of existing anomalies. As soon as these permits are awarded, Liberty Star will start that sampling.
Prior to drilling on our Arizona State MEPs, the Company is required to submit a drilling plan of operations and receive required permits from the ASLD. Federal land does not require a plan of operations before drilling. In the meantime, Liberty Star is reviewing bids for a first phase of 5,000 feet of HQ size diamond core drill holes. After analysis of the ZTEM data, five to 10 holes will be plotted and drilled to a depth estimated to be 500 to 1,000 feet, as a first test of the large geochem anomaly.
“James A. Briscoe” James A. Briscoe, Professional Geologist, AZ CA
Liberty 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 our exploration plans, that ZTEM will be flown over the entire Hay Mountain anomaly area; that ZTEM will be flown in early July; that additional rock and soil sampling will be done; that sampling will lead to better information about existing anomalies; and that five to ten holes will be plotted and drilled to a depth estimated to be 500 to 1,000 feet. Factors which may delay or prevent these forward-looking statements from being realized include: we may not be able to raise sufficient funds to complete our intended exploration, keep our properties or carry on operations; there may be cost overruns; misinterpretation of data is possible; and we may be unable to continue exploration due to permitting requirements, 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.