Liberty Star Uranium & Metals Corp. (LBSR: OTCQB) is an Arizona-based mineral exploration company engaged in the acquisition and exploration of mineral properties in the states of Arizona and Alaska. Currently the company controls properties totaling approximately 26,011 acres (about 41 square miles) which are located over what management considers some of North America’s richest mineralized regions for copper, gold, silver, molybdenum (moly), and uranium.
Arizona
The Tombstone Super Project (TSP) hosts Liberty Star’s premiere multi target property: Hay Mountain. The TSP initially consisted of 33 unpatented federal lode mining claims over a projected covered porphyry copper mineral center in Cochise County, Arizona. In 2011 and 2012 more USBLM claims and Arizona Mining Exploration Permits were added after Chief Geologist James Briscoe discovered a large multimodal anomaly over a large covered porphyry copper mineral center within the larger TSP area. Currently, the TSP entails 14.67 square miles of claimed lands with Hay Mountain covering 13.45 square miles of the claim area. The entire claim area has undergone formal review by SRK Consulting. SRK produced three separate NI 43-101 compliant technical reports (technical reports per USSEC) which recommended further exploration for copper, gold, moly and other metals.
The company received the final draft ZTEM report from Geotech Ltd. ZTEM electromagnetic measurement data has been carefully analyzed by Geotech’s Chief Geophysicist Jean Legault, P. Geo, P. Eng. Among the report’s findings:
1. There are as many as 10 meaningful targets within the Hay Mountain Project area.
2. Hay Mountain contains a major anomaly centered on the geochem anomaly reported by Liberty Star (NR 127).
From the “Executive Summary†Summary Interpretation Report on a Helicopter-Borne
Z-Axis Tipper Electromagnetic (ZTEM) and Aeromagnetic Geophysical Survey:
The Hay Mountain Project Tombstone Mining District, Cochise County, Arizona
For: Liberty Star Uranium & Metals Corp.:
“The Hay Mountain Property is mainly underlain by a thick sequence of Paleozoic quartzite, limestone and siltstones, but potentially hosts buried porphyry copper deposits at structural intersections and under basin-fill formations. There is additional potential for polymetallic carbonate-hosted replacement deposits (CRD), as well as shallow chalcocite blanket porphyry type deposits and also skarn type porphyry copper deposits. Previous soil and vegetation geochemical surveys have identified a coincident Au-Pb-Cu anomaly and larger Mo-halo in the center of the property. The objective of the ZTEM surveys is to identify favourable magnetic and resistivity signatures related to potentially more deeply buried porphyry copper, CRD/skarn and chalcocite replacement deposits at Hay Mountain. The Magnetic surveys have determined that Hay Mountain hosts a large dominant magnetic high that lies buried below the Paleozoic sediments is centered over the Liberty Star geochemical anomaly and remains open to the south…As many as ten (10) magnetic anomalies have been defined.â€
Company CEO/Chief Geologist Jim Briscoe’s summary: “Geotech’s Chief Geophysicist Jean Legault and I met for more than 12 hours in three sessions of four hours each over the last 10 days through GoToMeeting, me in Tucson and Legault in Canada, so we could look at the same images at the same time to interpret the ZTEM data. With my geological expertise in the Tombstone area and his geophysical expertise on copper anomalies all over the world, we came to the same conclusion that there is substantial evidence that the Hay Mountain area needs to be drilled. While I had five targets in mind, the ZTEM report indicated 10. I am pleased that the evidence continues to be mutually reinforcing that we may be looking at a major porphyry copper structure. The next step is drilling. We have a detailed cost analysis and will plot drill sites according to what we are seeing with the ZTEM. Once funding is secured, we will drill ASAP.â€
The Company maintains claims on two other claim blocks in Arizona: The East Silver Bell Porphyry Copper Project is within the Silver Bell Mining District located northwest of Tucson, Arizona. Liberty Star’s North Pipes Super Project comprises 417 standard Federal lode mining claims covering over 38,000 acres in numerous blocks targeting breccia pipe hosted uranium deposits. The breccia pipes are part of the large uranium bearing breccia pipe terrain which occurs on the Arizona Strip lying just south of the Utah border.
East Silver Bell Porphyry Copper Project is within the Silver Bell Mining District located northwest of Tucson, Arizona. Asarco Mining LLC with joint venture partner Mitsui Mining of Japan currently operates open pit copper mines in the area. Asarco has a solvent extraction (SXEW) plant approximately 4 1/2 miles to the west of the East Silver Bell Project property line. Liberty Star’s property, within the same mining district, includes 26 unpatented lode mining claims covering a previously unrecognized porphyry copper center. Two mining companies had some interest in the area during the late 1990s but relinquished the ground despite revealing enriched copper in one hole and substantial amounts of leached capping in all other holes, an indicator for porphyry copper deposits. Stagnant copper prices contributed to the abandonment of the ground prior to the identification of any ore body. The claims currently are within the Ironwood National Monument, which was established after the claims were staked.
Alaska
Through our wholly owned subsidiary, Big Chunk Corp., Liberty Star holds claims to the Big Chunk Super Project (BCSP), covering approximately 101 square miles in southwestern Alaska, targeting copper, gold and molybdenum. The Big Chunk lands are within nine miles the Pebble property, which promises to be among the richest mining districts in the world for copper, gold and moly for decades to come.
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