Liberty Discovers Copper Cobalt Mineralization Jul. 29, 2009 (Filing Services Canada)
-- Liberty Mines Inc. (LBE - TSX), ("Liberty or the Corporation") is pleased to announce the discovery of cobalt-copper-zinc-silver (Co-Cu-Zn-Ag) mineralization in Ray Township north of Liberty's McAra Lake cobalt project. The mineralization was intersected during exploration diamond drilling conducted in August of 2008, and consists of numerous near surface metaliferous veins in a gabbroic intrusive unit with values of up to 1.27% Co and 6.23% Cu. A total of seven short diamond drill holes totaling 947 metres followed up on initial positive geological mapping, prospecting and IP ground survey results.
Highlights of diamond drilling results are shown in the table below. The core lengths presented in the table are the intersected lengths, and the composite lengths are core weighted. True widths are unknown. ------------------------------------------------------------------Hole From To Co Cu Pb Zn Ag AsNumber (m) (m) (%) (%) (%) (%) (ppm) (%)------------------------------------------------------------------RA-08-01 16.8 17.0 1.265 0.16 0.03 <0.01 16 1.63 ------------------------------------------------------------------RA-08-03 69.7 70.1 0.020 0.63 0.01 <0.01 4 0.01 ------------------------------------------------------------------RA-08-03 17.6 17.9 0.001 0.38 <0.01 <0.01 <1 <0.01 ------------------------------------------------------------------RA-08-03 21.1 21.3 0.002 6.23 0.03 <0.01 5 <0.01 ------------------------------------------------------------------RA-08-03 50.0 51.0 0.014 0.02 0.05 0.34 <1 <0.01 ------------------------------------------------------------------RA-08-04 102.1 102.4 0.073 0.6 0.83 1.8 6 0.19 ------------------------------------------------------------------RA-08-05 44.0 44.3 0.254 <0.01 <0.01 0.01 1 0.38 ------------------------------------------------------------------RA-08-05 47.7 48.1 0.466 0.03 0.01 0.01 4 0.64 ------------------------------------------------------------------RA-08-05 53.3 53.5 0.164 0.36 0.01 0.01 7 0.22 ------------------------------------------------------------------RA-08-05 59.6 59.9 0.551 0.07 0.17 0.01 38 0.78 ------------------------------------------------------------------ Borehole Coordinates-----------------------------------------------Hole Number Collar Coordinates Azimuth Dip ----------------------------------- Easting Northing -----------------------------------------------RA-08-01 506,574 5,256,929 270 -45-----------------------------------------------RA-08-02 506,574 5,256,929 270 -65-----------------------------------------------RA-08-03 506,676 5,256,981 270 -50-----------------------------------------------RA-08-04 506,680 5,256,873 270 -50-----------------------------------------------RA-08-05 506,699 5,256,929 270 -65-----------------------------------------------RA-08-06 506,681 5,257,031 270 -50-----------------------------------------------RA-08-07 506,696 5,257,081 270 -50-----------------------------------------------
The mineralized zone lies in Ray Township, approximately 9 kilometres north-north-east of Liberty's high grade Co-Cu-Ag McAra Lake project. Veins hosting the polymetallic mineralization appear to be structurally controlled, consisting of brecciated rocks containing both sulphides and arsenides. "The high cobalt and copper grades intersected are very exciting results for the first round of diamond drilling," said William Randall. "The nature of the mineralization and its similarity with McAra Lake lends itself to the realistic expectation that a main break with similar grades may be associated with those discovered." The project is supervised by William Randall MSc (Geology) a qualified person as defined by National Instrument 43-101. According to the company sampling protocol, half of the diamond drill core is sampled and sent to ALS CHEMEX in Timmins to be prepared for analysis. The prepared samples are then forwarded to the ALS CHEMEX Laboratory in Vancouver for analysis. Base metal values are analyzed by aqua regia digestion and ICP-AES finish. A rigorous QA/QC program is implemented consisting of regular insertion of standards and blanks to ensure laboratory integrity.
About Liberty Mines Inc.
Liberty Mines Inc. is a producer of nickel and is focused on the exploration, development and production of nickel, copper, cobalt and platinum group metals from its properties in Ontario, Canada.
CAUTIONARY STATEMENT
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward looking statements". All statements other than statements of historical fact included in this release, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Liberty, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Liberty's expectations are exploration risks, commodity prices, receipt of mining permits and leases and assumed startup and operating costs detailed herein and from time to time in the filings made by Liberty with securities regulators.
For further information please contact:
Dr. Gary Nash, PhD (Physics),
President & CEO
Phone (416) 238-9736
Fax 780-437-7898
e-mail: gnash@libertymines.com Press Release 10-09 Source: Liberty Mines Inc. (TSX: LBE) http:// www.libertymines.com Maximum News Dissemination by Filing Services Canada Inc. * www.usetdas.com Source: Filing Services Canada (July 29, 2009 - 8:02 AM EDT) News by QuoteMedia www.quotemedia.com
