Liberty Star’s Big Chunk Alaska Claims Paid
TUCSON, Ariz.--(BUSINESS WIRE)--Liberty Star Uranium & Metals Corp. (“Liberty Star” or the “Company”) (OTCQB: LBSR) is pleased to announce that it has received confirmation of payment from the State of Alaska Department of Natural Resources Division of Mining for Alaska mineral claims comprising the Company’s Big Chunk Super Project. The Company retained 54 Alaska mineral claims (12 sq miles) covering previously identified drilling targets in both the North and South Blocks. Claims rental fees totaled $30,640.
The Company has reduced all land that previous studies confirm lack anomalies for porphyry copper deposits. Thorough geologic studies specific for porphyry copper conducted from 2004 through 2010, including multi element soil and vegetation geochemistry as well as ZTEM electromagnetic and magnetic geophysics, and drilling did confirm multiple anomalies that are real and demand more testing. The remaining 54 claims are over the promising anomalies.
States CEO/Chief Geologist Jim Briscoe: “The problems that have caused Anglo American to withdraw from the area tell us the time for development is not yet upon us. Therefore we have dropped claims that do not in our evaluation have potential for ore grade mineralization beneath them, and we have retained those claims that do. The money that would be used for holding costs for those dropped claims will be used in Arizona on Hay Mountain and other targets within the Tombstone mining district, and other areas of the southwest USA.”
Posted: December 6, 2013