Big Chunk Super Project
At a glance
| Property rights | Exclusive mineral exploration rights held by wholly-owned Alaskan subsidiary Big Chunk Corp |
| Location | Approximately 200 miles southwest of Anchorage on the north side of Cook Inlet |
| Area | About 177 square miles (roughly 113,000 acres) on 707 State mining claims |
| Metals sought | Copper, gold, molybdenum (moly), silver and zinc |
| Access | Helicopter |
| Status | Exploration |
About the company
Liberty Star Uranium & Metals Corp. is a focused mineral exploration company with an experienced team of geologists with an excellent track record. The property consists of 707 State of Alaska 160 acre mining claims known as the Big Chunk claims, covering approximately 177 square miles (about 113,000 acres) of southwestern Alaska.
Exploration Summary
Liberty Star's 2004 exploration program discovered copper-molybdenum porphyry-style mineralization on the portion of the Big Chunk property known as White Sox.
The boundaries of the mineralization detected in the White Sox area have not yet been fully determined; with only the western limits defined. Liberty Star's 2005 program plans include surveys to fully define the boundaries of White Sox, as well as additional geophysical surveys elsewhere on the property where surface geochemical sampling indicates potential for additional discoveries. The company intends to continue to drill to test any areas identified by geophysical tests as being of interest. Additional surface geochemistry and geologic studies are also planned for the upcoming field program.
Well-located
Liberty Star's ground is well-located near year-round ice-free tidewater on the Pacific Ocean at Cook Inlet. Known mineralization in this area occurs near surface in an area of gentle topography and low elevations. Development of a port on the inlet and a nearby road are already in process with the approval and financial backing of the State of Alaska and the Federal Government. Additionally, studies are underway to evaluate the best way to bring power to the area in industrial quantities.
2004 Exploration Program and Results
Initial staking & aeromag
Liberty Star staked the property in December 2003. An aeromag survey was flown over the property in January through May, 2004. Field work, including surface sampling, Induced Polarization (IP) geophysics, and drilling, was conducted from June through October 2004.
The aeromag survey was flown in January through May 2004 by McPhar Geophysics with the use of a fixed-wing aircraft. The survey covered approximately 1,407 square miles. It was flown at 820 foot line spacing and an optimum elevation of 395 feet; both of these controls lead to a highly detailed survey.
Surface sampling
A majority of the 2004 field work was surface sampling. The table below summarizes the number of samples collected during this work. Water samples were collected and analyzed for fluorine in a field lab, for rapid response to fluorine anomalies.
| Sample Type | # of samples |
|---|---|
| Vegetation | 4,274 |
| Soil | 3,366 |
| Water | 993 |
| Stream Sediment | 610 |
| Rock | 60 |
| Total | 9,303 |
Ground geophysics
Thirty days of both dipole-dipole and Reconnaissance IP (RIP) was conducted in August and September 2004. Approximately 26 miles of dipole-dipole was completed and 30 RIP stations were measured, over an area of 13 square miles. A few small areas of IP response were detected with the RIP survey. IP response was measured on all four IP lines at White Sox. These results indicate the presence of disseminated metallic material with consistent readings above 30 msec or mrad.
Drilling
Four drill holes, totaling 1329 feet, were completed in the White Sox area. Visible copper mineralization was noted in two holes and visible molybdenite was noted in several places in one hole. Low grade gold was also encountered with the other mineral intercepts. This mineralization and the associated alteration may be indicative of a copper porphyry system.
2005 Exploration Program
The Big Chunk property is in various stages of exploration. The White Sox area has received the most work and is a little more advanced than other portions of the property. A mineralized center has been identified with drilling and geophysics there. Additional drilling on and near the IP response is planned. Four months of planned IP should fully delineate the IP response at White Sox with additional IP planned to the north, east and south of the 2004 survey. The company proposes to continue to drill to evaluate those areas where the appropriate IP response is >30 mRad. If ore-grade mineralization is encountered, the company hopes to initiate a grid drilling program to delineate resources, if and as time in the season allows.The company proposes to conduct dipole-dipole and reconnaissance IP on the remainder of the property. Any higher quality geochemical anomalies will be evaluated with dipole-dipole IP. If time in the season permits, the company intends to drill test dipole-dipole IP responses over 40 mRad, if any are detected.The company intends to evaluate lower quality geochemical anomalies with RIP and to detail any RIP anomalies with dipole-dipole IP.
Current Activity
Liberty Star seeks well capitalized joint venture partners to further explore and develope the Big Chunk Super Project. More than one globally important mining company has signed letters of confidentiality to review Big Chunk data through Liberty Star's secured website.
