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TSX: LBE
- Shallow drilling at the Hart East Project intersects 3.23% Ni over 2.0 meters, approximately 90 meters vertically below surface
- Deep drilling at the Hart Project intersects 1.24% Ni over 3.6 meters approximately 550 meters vertically below surface
TORONTO, Dec. 14, 2011 /CNW/ - Liberty Mines Inc. (TSX: LBE) ("Liberty" or the "Company") today announced results from its ongoing drill initiatives on its Hart and Hart East projects, which are located in the Shaw Dome Nickel region in north-eastern Ontario. Liberty's drilling programs are consistent with the company's strategy to grow its current resource base of over 3.5 million tonnes of nickel ore.
"We are extremely pleased with this drill result as it confirms our belief that there is the potential for a deep ore zone at the Hart Deposit," said Chris Stewart, President and CEO of Liberty Mines.
Hart East Project
An earlier shallow drill hole, H-11-21 on the Hart East intersected 3.23% Ni over a drilled width of 2.0 meters from 123.0 to 125.0 meters. Further up hole, an intercept of 0.59% Ni over a drilled width of 3.5 meters from 105.8 to 109.3 meters was also intersected. The two intercepts are located approximately 90 meters vertically below surface and suggest that mineralization may be continuous to surface. In addition the two intercepts may be analogous to the Hart Deposit with the iron formation and massive sulphide zones which occur near surface. Infill drilling is currently in progress on the Hart East project.
Hart Deposit
Deep drilling on the Hart Deposit has established down plunge continuity of the deposit with an intercept of 1.24% Ni over a drilled width of 3.6 meters in drill hole H-11-23 from 571.7 to 575.3 meters. The drill hole targeted a VTEM B-field conductor interpreted to persist at depth and successfully intersected the projected depth extension of the conductor.
The intercept occurred above a gabbroic dyke believed to truncate the deposit at depth and validates continuity of nickel mineralization at depth. Deep drilling on the Hart Deposit will resume in 2012 with the targeting of additional VTEM B-field conductors proximal to the target drilled. In addition, the company is planning a program of deep borehole TEM surveys on both the Hart and Hart East projects to help vector in on deeper seated mineralization.
Results from the drilling on these programs 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.
Hart and Hart East Projects
| Project |
Hole Number |
From |
To |
Interval (m) |
Ni% |
| Hart East |
H-11-20 |
191.50 |
192.0 |
0.5 |
1.15 |
|
|
196.80 |
197.30 |
0.5 |
1.11 |
|
H-11-21 |
105.8 |
109.3 |
3.5 |
0.59 |
|
|
123.0 |
125.0 |
2.0 |
3.23 |
|
H-11-22 |
N.S.V. |
|
|
|
|
|
|
|
|
|
| Hart Deposit |
H-11-23 |
571.7 |
575.3 |
3.6 |
1.24 |
Drilling Program Coordinates
| Hole Number |
Easting |
Northing |
Elevation |
Depth |
Azimuth Mine Grid |
Dip |
| H-11-20 |
2901.1 |
3918.73 |
2296 |
275 |
360 |
-60 |
| H-11-21 |
2900.94 |
3998.33 |
2296.19 |
150 |
360 |
-50 |
| H-11-22 |
2744.5 |
3694.65 |
2296 |
696 |
360 |
-75 |
| H-11-23 |
2375.06 |
3710.26 |
2297.1 |
765 |
360 |
-75 |
Liberty's drill projects are being supervised by the Company's Vice President of Exploration, Peter Caldbick BSc, PGeo a qualified person as defined by National Instrument 43-101. The technical contents of the press release have been reviewed and approved by Peter Caldbick and Richard Allard PGeo. A rigorous quality assurance program is employed which includes the insertion of standards and blanks for each batch of samples. Samples of the NQ size drill core are sawed in half, with one-half sent to a commercial laboratory, AGAT Laboratories Mississauga, Ontario, and the other half retained for future reference. Core samples are routinely analyzed for nickel and copper using sodium peroxide fusion and ICP finish. Any analyses greater than 5,000 ppm are re-analyzed using total acid digestion. In addition, fire assays were applied with an ICP-OES finish for gold, platinum and palladium on the Groves Project.
About Liberty Mines Inc.
Liberty Mines Inc. is a mid-tier 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. It owns and operates the only nickel concentrator in the Shaw Dome, a prospective nickel belt region near Timmins, Ontario. With a new management team in place, Liberty is focused on growth initiatives not only through a more aggressive exploration program on its current properties but also through potential acquisition or partnership opportunities beyond its core Timmins area projects.
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 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; regulatory approvals; 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. Forward-looking statements speak only as of the date on which they are made. The Company undertakes no obligation to publicly update any such statement or reflect new information or the occurrence of future events or circumstances, except where required by securities regulations. Accordingly, readers should not place undue reliance on forward-looking statements.
