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Author Archive
Lexaria Intends to Complete A $3,400,000 Financing
Kelowna, British Columbia–(May 23, 2014) – Lexaria Corp. (LXRP-OTCQB) (LXX-CSE) (the “Company” or “Lexaria”) reports its intention to complete a non-brokered private placement financing, consisting of 17,000,000 Equity Units at US $0.20 per unit, to raise gross proceeds of up to US $3,400,000 (the “Private Placement”).
Each equity unit will consist of one common share of the Company and one non-transferable share purchase warrant, each warrant entitling the holder to purchase one additional common share of the Company for a period of eighteen months from the date of issuance, at a purchase price of US$0.50. The Company may accelerate the expiry date of the warrants if the stock price trades above CAD$0.60 for 20 consecutive days at any time after 6 months and one day has elapsed.
Lexaria may pay broker commissions of up to 6.0% in cash and 6% in broker warrants in connection with the Private Placement. Each broker’s warrant will be exercisable into one single common share (a “Warrant Shareâ€) at a price of US$0.50 per Warrant Share for a period of eighteen (18) months following closing of the Offering. Certain directors, officers and insiders of the Company may participate in the Private Placement.
The Company is canceling its earlier announced intention to complete a non-brokered private placement financing, consisting of 7,000,000 Equity Units at US $0.28 per unit, to raise gross proceeds of up to US $1,960,000 (the “Private Placement”) due to market conditions.
The securities issued will be subject to a hold period in Canada of four months and one day, or for any resales possible into the USA under Rule 144, six months and one day. Proceeds from the equity units will be used for corporate development in the Medical Marijuana business, G&A and general working capital. The Private Placement will be subject to normal regulatory approvals.
The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
About Lexaria
Lexaria’s shares are quoted in the USA with symbol LXRP and in Canada with symbol LXX. The company searches for projects that could provide potential above-market returns. To learn more about Lexaria Corp. visit www.lexariaenergy.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Lexaria Corp.
Chris Bunka, CEO: (250) 765-6424
Clark Kent, Media Manager: (647) 519-2646
FORWARD-LOOKING STATEMENTS
This release includes forward-looking statements. Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including statements that include words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions are forward-looking statements. Such forward-looking statements are estimates reflecting the Company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, weather, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. There can be no assurance that road or site conditions will be favorable for field work; no assurance that well treatments or workovers will have any effect on oil or gas production; no assurance that oil field interconnections will have any measurable impact on oil or gas production or on field operations, and no assurance that any expected new well(s) will be drilled or have any impact on the Company. There can be no assurance that expected oil and gas production will actually materialize; and thus no assurance that expected revenue will actually occur. There is no assurance the Company will have sufficient funds to drill additional wells, or to complete acquisitions or other business transactions. Such forward looking statements also include estimated cash flows, revenue and current and/or future rates of production of oil and natural gas, which can and will fluctuate for a variety of reasons; oil and gas reserve quantities produced by third parties; and intentions to participate in future exploration drilling. Adverse weather conditions including but not limited to surface flooding can delay operations, impact production, and cause reductions in revenue. The Company may not have sufficient expertise to thoroughly exploit its oil and gas properties. The Company may not have sufficient funding to thoroughly explore, drill or develop its properties. Access to capital, or lack thereof, is a major risk and there is no assurance that the Company will be able to raise required working capital. Current oil and gas production rates may not be sustainable and targeted production rates may not occur. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company’s public announcements and filings. There is no assurance that the medical marijuana business will provide any benefit to Lexaria and no assurance that the proposed financing of up to $3,400,000 will be successful.
The CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Start your small cap medical marijuana research in the AGORACOM Small Cap Medical Marijuana Stocks Gateway
http://agoracom.com/portal/Small%20Cap%20Medical%20Marijuana%20Stocks
Update: Liberty Star’s Presentation of Proposed Exploration at Hay Mountain AZ Has Triggered a Strong Response in the Middle East
Update: Liberty Star’s Presentation of Proposed Exploration at Hay Mountain AZ Has Triggered a Strong Response in the Middle East with Numerous Requests for Additional Meetings—CEO Briscoe’s Trip Rescheduled and Expanded
TUCSON, Ariz.–Liberty Star Uranium & Metals Corp. (“Liberty Star†or the “Companyâ€)(OTCQB: LBSR) is pleased to announce that numerous requests for additional meetings throughout the Middle East to present the Company’s porphyry copper, gold, moly, REEs Hay Mountain Project in conjunction with the Mine Finders Program recently detailed in News Release 177 (May 15) have been received. The presentation program has been rescheduled, to accommodate those additional requests. Briscoe’s current plans are to depart the USA June 19 for these meetings. According to a letter from naseba dated May 20, News Release 177 has generated positive feedback “from more countries in the Middle East region than we were considering. We need to dig deeper. We feel delaying your roadshow until the end of June would allow us to open more doors and organize a multi-days, multi-countries roadshow that would be more beneficial to your company.†Countries under consideration for an expanded visit include Egypt, Kuwait, Oman, Turkey, and perhaps others.
“from more countries in the Middle East region than we were considering. We need to dig deeper. We feel delaying your roadshow until the end of June would allow us to open more doors and organize a multi-days, multi-countries roadshow that would be more beneficial to your company.â€
Based on naseba’s positive report Briscoe has agreed to reschedule his trip to Saudi Arabia and potentially other cities to present the “One Package, Two Projects†Hay Mountain and Mine Finders program. According to the naseba letter “The later date will also be more fruitful†confirmed by several additional representatives who do not have time available in May but they have in June.
States Briscoe: “the enthusiasm for the Hay Mountain composite program is gratifying. This kind of opportunity is on the forefront of modern hands on training by industry experts using new cutting edge technologies. Our goal remains to implement phase 1 drilling at Hay Mountain, and start the Mine Finders program as soon as possible.â€
“James A. Briscoe†James A. Briscoe, Professional Geologist, AZ CA
CEO/Chief Geologist
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 entire planned drilling program and our planned training program. Factors which may delay or prevent these forward-looking statements from being realized include: the failure of our proposals to be accepted; we may not be able to raise sufficient funds to complete our intended exploration, keep our properties or carry on operations; and an inability to continue exploration due to weather, logistical problems, labor or equipment problems or hazards even if funds are available. Even if our proposal is accepted, we may not be able to carry out the instruction program as contemplated. 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.
Contacts
Agoracom Investor Relations
[email protected]
http://agoracom.com/ir/libertystar
or
Liberty Star Uranium & Metals Corp.
Tracy Myers, 520-425-1433
Investor Relations
[email protected]
Follow Liberty Star Uranium & Metals Corp. on Facebook, LinkedIn & Twitter @LibertyStarLBSR
Neah Power Systems – Q&A Session Vol. 2 – May 22, 2014
Welcome to AGORACOM Q&A. We have invited Neah Power Investors to ask questions which will be answered directly by management.
Why Neah Power Systems?
$50M+ into Neah Power Systems
- Intel Corporation, Novellus Systems, Four Tier 1 VCs, US Navy, NIST/ATP
- Superior, differentiated, award winning technology (Popular Science, WTIA, MIT)
- 12 patents + pending applications, trade secrets, know-how
Neah working with leading defense, commercial and consumer companies
- PO from large defense supplier
- Commercial proposals into commercial aviation, consumer company, telecom company and others
- Buzzbar targeted at consumer oriented products
- Company has completed a fuel cell technology asset acquisition that bolsters its current product line up, and opens up new market opportunities in the renewable energy sector
Cost effective manufacturing, very suited to turn-key implementation
- Proven silicon-based process for ease of manufacturing implementation
- Uses easily available, older-generation equipment and inspection
AGORACOM Small Cap Stock TV – May 22, 2014
AGORACOM – The Small Cap Epicenter reports on the day’s best small cap and micro cap press releases.
Good afternoon to you all. Please find enclosed a summary of the breaking small-cap and micro-cap financial news we highlighted on our TV show this morning. It’s May 22nd and we’ve found 3 great press releases to report on. It’s another great day for small-cap and micro-cap financial news.
If you are new to the show, it is a daily, fast-paced, edgy report that we put out Mon – Thurs that strictly reports on the best small cap and micro cap news of the day. You can watch AGORACOM TV right from our home page.
If you miss an episode or want to search for your company in our archive, you can visit our industry leading Small-Cap Podcast site at any time:
If you want to subscribe to our Small-Cap RSS Feed or download our podcast everyday via iTunes, or your favourite podcatcher, just use the following:
TODAY’S SMALL-CAP AND MICRO-CAP BREAKING FINANCIAL NEWS
Today’s show features:
Mega Precious Metals (MGP.V),
North Arrow Minerals (NAR.V),
Donnycreek Energy (DCK.V)
Toddler’s seizures stopped after consuming cannabis oil, parents say
JUSTIN GIOVANNETTI
VANCOUVER — The Globe and Mail
Last updated Tuesday, May. 20 2014, 8:05 PM EDT
Two-year-old Kyla Williams hasn‘t learned to walk or talk, her development has stopped as she suffered as many as 200 seizures daily and no medication helped. Now the girl’s family say she hasn’t had a seizure in a week, ever since they began giving her cannabis oil extracted from hemp. (handout from family)Two-year-old Kyla Williams hasn’t learned to walk or talk, her development has stopped as she suffered as many as 200 seizures daily and no medication helped. Now the girl’s family says she hasn’t had a seizure in a week, ever since they began giving her cannabis oil extracted from hemp.
The oil being used by the toddler has high amounts of cannabidiol, known as CBD, the main ingredient in medical marijuana, and almost no psychoactive ingredients. Its use is in a legal “grey area,†according to proponents.
Only dried marijuana is currently regulated by Health Canada, the sale of resin and oil by growers is forbidden. The hemp that the cannabis oil is being extracted from is supposed to be destroyed by farmers under federal regulations. However, few controls seem to govern the dispensary and parents providing the two-year-old with the oil.
Despite the lack of legal clarity, Kyla is continuing to use her unconventional medicine. On Sunday evening, she had been seizure-free for a week.
“Within 20 minutes of administering it the first time, she stopped her seizures completely. She had six seizures earlier as I said goodbye to her, it was so hard to watch,†said grandmother Elaine Nuessler.
On Saturday, the girl’s grandfather spoke publicly about the need for greater access to the medical marijuana-like substance. A former RCMP officer, Chris Nuessler told a crowd of 60 in Summerland, B.C. that his views on marijuana have changed significantly since his granddaughter began showing signs of uncontrollable epilepsy when she was six months old.
“We come from a background where we’ve never dealt with marijuana before in our lives,†said Ms. Nuessler. “We’ve discovered that it’s a healing plant.â€
For more than a year, Kyla was treated with a battery of prescription drugs, none worked, many made her condition worse. Due to the epilepsy, the girl also suffers from serious visual impairments.
After being told by physicians that the girl’s life would be cut short by the seizures, the family contacted Jim Leslie at the Nation’s Best Weeds Society, a dispensary in Vancouver’s east end. Aided by anecdotal evidence that cannabis with high levels of CBD was being used successfully in the United States, Mr. Leslie set out to find something similar in Canada.
He soon came across an often discarded piece of hemp that is high in CBD. “We’ve got a winner here,†he remembers thinking when he saw the results of tests on the plant. “A small, small percentage of farmers are diverting the CBD-rich part of the plants to us,†said Mr. Leslie.
The Vancouver-based dispensary has a note from Kyla’s pediatric physician recommending cannabis. Under federal rules, the family should be providing the two-year-old with medical marijuana in it’s more traditional form.
In the past, Canadians have moved to the U.S. to gain access to the oil. In late 2013, the parents of 13-month-old Kaitlyn Pogson moved to Colorado to obtain the drug, hoping it would help with their daughter’s severe seizures.
With no medical trials showing that cannabis helps children with seizures, Arthur Schafer warned that the impact of the drug’s exposure on a child’s brain remains unknown.
“The rigorous scientific evidence isn’t there, but the anecdotal evidence seems quite promising. Would a reasonable and loving parent take the risk of giving their child medication that could cause serious harm? Not unless the situation is desperate and nothing else has worked,†said Mr. Schafer, the director of the Centre for Professional and Applied Ethics at the University of Manitoba.
“If the harm is there in front of you daily in seizures, the reasonable and loving parent might take the risk. I would.â€
Follow Justin Giovannetti on Twitter: @justincgio
Start your small cap medical marijuana research in the AGORACOM Small Cap Medical Marijuana Stocks Gateway
http://agoracom.com/portal/Small%20Cap%20Medical%20Marijuana%20Stocks
AGORACOM Small Cap Stock TV – May 21, 2014
AGORACOM – The Small Cap Epicenter reports on the day’s best small cap and micro cap press releases.
Good afternoon to you all. Please find enclosed a summary of the breaking small-cap and micro-cap financial news we highlighted on our TV show this morning. It’s May 21st and we’ve found 5 great press releases to report on. It’s another great day for small-cap and micro-cap financial news.
If you are new to the show, it is a daily, fast-paced, edgy report that we put out Mon – Thurs that strictly reports on the best small cap and micro cap news of the day. You can watch AGORACOM TV right from our home page.
If you miss an episode or want to search for your company in our archive, you can visit our industry leading Small-Cap Podcast site at any time:
If you want to subscribe to our Small-Cap RSS Feed or download our podcast everyday via iTunes, or your favourite podcatcher, just use the following:
TODAY’S SMALL-CAP AND MICRO-CAP BREAKING FINANCIAL NEWS
Today’s show features:
Klondex Mines (KDX.T),
Tembo Gold (TEM.V),
Impact Silver (IPT.V),
Integra God (ICG.V),
Balmoral Resources (BAR.T)
Robix Launches Corris Marine Division in Montreal and Grant of Options
LETHBRIDGE, ALBERTA–(May 20, 2014) – Robix Alternative Fuels Inc. (“Robix” or the “Corporation”) (CSE:RZK)(FRANKFURT:R0X) announced today that it has officially launched its Corris Marine Division with the opening of its Montreal office, in the Old Port of Montreal district.
The Robix Corris Marine Division intends to own and operate shipping tankers that will transport refined oil products along established global shipping routes. In addition to producing shipping revenue, it is intended that each tanker will host a Robix Clean Ocean Vessel (“COV”), which is an oil spill recovery vessel design with the capability to recover oil in rough and debris laden sea conditions, as described below. Once installed on a tanker, the COV will be readily deployable to react to oil spills in the heavily travelled established shipping routes regionally and globally.
Robix, including its Corris Marine Division, has completed comprehensive revenue models and the financial analysis supports the creation of an initial fleet of tankers. Robix is currently in discussions with several tanker owners and the Corporation is evaluating non-dilutive financial structures to acquire these tankers.
The current plan of management of Robix contemplates the installation of a COV when commercially feasible on each tanker. The COV is an ocean vessel, catamaran-hull barge design, capable of recovering oil from water, in virtually any conditions, especially in rough seas (40 Foot COV is stable up to Beaufort 6, or 8 feet ocean waves). Contra-rotating drums lift oil/water fluid from the surface of the ocean and scavenger blades “scrape” the oil/water fluid off the drums into storage tanks within the catamaran hulls.
“Oil spills very often occur near oil pipeline port facilities where oil is off-loaded to tankers and in well-travelled oil shipping lanes, making revenue generating tankers a natural host for the COV system,” commented Nathan Hansen, President and CEO of Robix. “Our strategy is to generate revenue from the shipping of oil while being ready and able to service a global region in the event of an oil spill with a readily deployable COV system on standby. Robix has identified revenue potential from multiple sources, including shipping oil, COV standby fees as well as emergency recovery and response revenue from deployment of the COV solution.”
In addition to the launch of the Corris Marine Division, Robix wishes to announce the grant, subject to regulatory approval, of 444,000 stock options to directors and consultants at an exercise price of $0.50 per share and expire on May 21, 2017, under the Corporation’s stock option plan.
Finally, Robix will be hosting its Annual General & Special Meeting at Radisson Hotel & Conference Center, 6620-36th Street NE, Calgary, Alberta, Canada (Northeast Calgary) on May 30th, 2014. Shareholders and interested persons are invited and encouraged to attend the meeting, which will include an update from management.
About Robix:
The Corporation is an “industrial products/technology” company, offering to investors a unique opportunity to participate in a leading company in the business of ownership of patents, and their development from commercialization to worldwide expansion through various business arrangements. Robix owns a Clean Ocean Vessel (“COV”) patent, which is an oil spill recovery vessel design with the capability to recover oil in rough and debris laden sea conditions. Robix has recognized a worldwide market opportunity for effective containment, recovery and disposal equipment, particularly in the oil spill protection industry, and it proposes to develop a business model as a service provider, and/or equipment provider under licensing agreements with other industry participants, wherein Robix will use its COV patented design solution.
No stock exchange or any securities regulatory body has reviewed the contents of this news release.
This press release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”), including statements regarding Robix’s business, the Corris Marine Division and the proposed transactions. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Robix’s control, including the ability of Robix to satisfy the conditions to completion of the proposed transactions, the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Robix believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward looking information. As such, readers are cautioned not to place undue reliance on the forward looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Robix does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
Robix Alternative Fuels Inc.
Nathan Hansen
President & CEO
250-683-8957
[email protected]
Robix Alternative Fuels Inc.
Robin Ray
Chief Financial Officer
403-327-3094
[email protected]
www.robixfuels.com
Stria Completes Proof of Principle Development of its Upstream Lithium Ore-to-Lithium Chloride Production Process
OTTAWA, ONTARIO–(May 20, 2014) – Stria Lithium Inc., (TSX VENTURE:SRA) (“Stria” or the “Company”) is pleased to announce the successful completion of its Phase 1 “proof of principle” development of a novel hard rock ore-to-lithium chloride process.
Stria owns the Pontax spodumene and Willcox brine lithium properties in the James Bay region of Northern Quebec and southeastern Arizona, respectively.
On January 14, 2014, Stria announced its plans to introduce proprietary, on-site processing technologies that produce high purity lithium chloride directly from spodumene ore on an environmentally sustainable basis.
The potential benefits of the technologies is that they require less controls; less chemistry via the recycling of chemicals; require less energy due to energy recycling; reduce capital costs from the construction of smaller, compact processing facilities, and; the combination of a simple process and compact design enable easy automation.
“Stria is a technology lithium property developer with an eye to building a competitive advantage in an established global market by focusing on the introduction of cost-mitigating, upstream, environmentally sustainable processing capabilities,” said Stria President and Chief Operating Officer Julien Davy.
“With the proof of principle phase completed, we have commenced our Phase 2 optimization of kinetics and recovery testing of our spodumene ore-to-lithium chloride process,” Mr. Davy said.
“The engineering data derived from Phase 2 examinations and laboratory trials should form the bases for construction of a small scale pilot plant,” Mr. Davy added.
Stria has embarked on a strategic, technology-oriented business path to develop a proprietary, upstream processing technology for the Pontax resource, and; to further refine an existing, proven brine processing technology for the Willcox project.
With Phase 1 mineralogical and metallurgical testing program now validated, Stria will embark on follow-up exploration programs at its 100% owned Pontax and Willcox properties in tandem with pilot plant testing.
The Company’s aim is to position itself as a new, green technology source of technology lithium, an irreplaceable component for current and next-generation batteries.
Lithium metals today represent about 30% of global lithium consumption. By 2025, it is estimated that global consumption from the battery manufacturing sectors will account for some 65% of total global consumption.
About Stria Lithium Inc.
Stria Lithium (TSX VENTURE:SRA) owns the Pontax spodumene lithium property in Northern Quebec and the Willcox brine lithium property in Southeastern Arizona. As announced in January 2014, Stria is developing proprietary, in-house processing technologies for both projects with the purpose of reducing costs on an environmentally sustainable basis. Stria’s technologies, based on recovering lithium metal directly from ore and from brine liquids, will be more efficient, will require fewer controls, less chemistry and require less energy from compact facilities designed to enable easy automation.
Forward Looking Statement – Disclaimer
This news release may contain forward-looking statements, being statements which are not historical facts, and discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company’s expectations are in our documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at www.sedar.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Stria Lithium Inc.
Mr. Julien Davy
President and Chief Operating Officer
[email protected]
Liberty Star Updates the Hay Mountain Project, Southeast Arizona
TUCSON, Ariz.–Liberty Star Uranium & Metals Corp. (“Liberty Star†or the “Companyâ€)(OTCQB: LBSR) is pleased to update its shareholders and interested parties on the completion of the compilation and interpretation of the Hay Mountain porphyry copper geophysical data along with geochemistry and design of a Phase 1 drill program.
During the last 6 months significant additional details on the subsurface of the Hay Mountain porphyry copper geochemical anomaly have come to light. These are enumerated in approximate chronological order:
- Detailed interpretation of the ZTEM geophysical survey revealed that the anomaly is much larger than previously realized. Based on the analysis of all the data, it is now realized that it could contain the footprint of any of the largest porphyry copper deposits known in North America. Additional geophysical interpretive work on the abundant geophysical data was clearly warranted.
- The electromagnetic component of the ZTEM system shows conductors going to a depth of at least 1,520m (approx. 5,000 feet), which would be commensurate with the base of the Paleozoic sediments and their depositional contact with the Precambrian basement rocks. This is similar to the mineralization at Bisbee, Christmas, Twin Buttes, Rosemont and Morenci, Arizona and Cananea, Mexico, all within about 161 km (100 miles) of Hay Mountain, and all are sediment (skarn) hosted porphyry copper mines.
- The detailed magnetic component of the ZTEM survey allows the three dimensional analysis of the very large magnetic feature which is coincident with the geochemical porphyry copper signature and low resistivity signatures from the electromagnetic (EM) component. This magnetic resonance imaging (MRI – just like physicians use – except in our case it is helicopter borne, not stationary in an office – and of course the scale is different), reveals important details of what is comparable to known mineral bearing skarn in other districts in North and South America, and throughout the world. Skarn (altered limestone – see Liberty Star’s glossary on web site) frequently contains high grade copper, gold, molybdenum, tungsten and other metals. This is a common host for the nearby Bisbee mines where early day production ranged from 7% to 30% copper. Other deposits within about 241 km (150 miles) at Morenci, Silver Bell, Mission, Twin Buttes, Rosemont, Globe and Christmas, Arizona, Chino, New Mexico and Cananea, Mexico and others as well as mines in other parts of the world have similar grades in skarn bodies.
- The 3D magnetic data suggest the upper part of the skarn bodies lie 30 to 90 meters (approx. 100 to 300 feet) below dirt cover. Their magnetic signature suggests the upper 30 to 90 meters or more is oxidized and copper would be in oxide form that would allow shallow open pit mining, heap leaching solvent extraction and electrowinning (OPHLSXEW) to produce 99.99% wire grade copper as seen at the new Safford, Arizona mine and others. It might also be like the nearby Bisbee deposit which produced an astounding number of museum quality green copper oxide and other mineral specimens of great value.
- Analysis of the data generated in the studies identified above has made it possible to lay out a targeted drill program. Recent consultation with directional drilling contractors suggests that a significant reduction of the number of drill sites can be made. This will minimize surface disruption and allow the drilling of one mother hole and up to 8 daughter holes from one drill site. This should significantly reduce the cost of drilling, as the directional daughter holes will save penetrating repeatedly to the daughter hole kick off depth. This directional drilling is similar to oil field standard procedure.
- The availability of new equipment. Largely dependent on new high speed microcomputers, combined with the Internet suggest a more efficient approach to the rapid drilling this project will require.
- Development time and financing availability
Briscoe has been told by well-capitalized investors during his world travels over the last 11 months that no more than seven years is an acceptable time for exploration and start of production. In response, the Company has designed a drilling exploration program to operate 24/7/365 for four years assuming ore grade material is intercepted. A mine would go into production in the seventh year. If a near surface oxide copper ore body is present (like the nearby Johnson Camp Mine and I-10 Porphyry-Excelsior proposed mines), as suggested by the geophysics, such production on a moderate scale from a shallow pit could be feasible, thus greatly simplify this very tight schedule. Continued enlargement of facilities could consist of a build out of a large deep high grade underground mine or a much larger open pit mine or both; or perhaps a block cave operation.
Required capital funding for the Hay Mountain Project would be Phase 1 drilling at US $5 million to be expended in the first year to confirm presence of ore grade mineralization. Post phase 1 drilling activities in the amount of US $60 million are to be expended over the next three years. Assuming success in defining a mineral resource, permitting, metallurgical studies, and mine planning and plant design would quickly follow as would a Bankable Feasibility Study, which would be completed at the end of year five. Production would follow and is projected to be attained in the seventh year.
“James A. Briscoe†James A. Briscoe, Professional Geologist, AZ CA
CEO/Chief Geologist
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: that a porphyry copper system is indicated; that Phase 1 drilling will cost US $5 million to be expended in the first year. Post phase 1 drilling activities in the amount of US $60 million are to be expended over the next three years. That assuming success in defining a mineral resource, permitting, metallurgical studies, and mine planning and plant design would quickly follow as would a Bankable Feasibility Study, which would be completed at the end of year five. Production would follow and is projected to be attained in the seventh year.
Factors which may delay or prevent these forward-looking statements from being realized include misinterpretation of data; we may not be able to get equipment or labor as we need it; we may not be able to raise sufficient funds to complete our intended exploration or carry on operations; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; and that despite encouraging data there may be no commercially exploitable mineralization on our properties. Readers should refer to the risk disclosures outlined in the Company’s recent S-1, its 10-K and the Company’s other periodic reports filed from time to time with the Securities and Exchange Commission.
Contacts
Agoracom Investor Relations
[email protected]
http://agoracom.com/ir/libertystar
or
Liberty Star Uranium & Metals Corp.
Tracy Myers, 520-425-1433
Investor Relations
[email protected]
Follow Liberty Star Uranium & Metals Corp. on Facebook, LinkedIn & Twitter @LibertyStarLBSR