Liberty Star Prioritizes 45 Pipes
for Sequential Drilling
Monday February 25, 8:05 am
ET
TUCSON, Ariz.--(BUSINESS
WIRE)--Liberty Star Uranium & Metals Corp. (the “Company”) (OTCBB: LBSU - News) is pleased to
announce that 45 pipe targets (Pipes) have been ranked and prioritized. The
prioritization is based on intensive work over the course of the last year in
geologic mapping and interpretation, soil geochemical sampling and analysis, and
geophysics. Six of these Pipes are allocated to the existing JV with XState
Resources of Australia (XST: AX). Two additional Pipes fall within the Area of
Mutual Interest where XState has the right of first refusal. Thirty-seven of the
45 Pipes are available for joint venture. Such joint venture partnerships are
being aggressively pursued.
Drilling permits are in
place on some and can readily be obtained on all of the remaining
Pipes.
Technical work on the approximately
two hundred fifty additional Pipes will continue in order to evaluate them and
prioritize them as drill targets.
ON BEHALF OF THE BOARD OF
DIRECTORS
“James A. Briscoe”
James A. Briscoe, President/Director
About the Liberty Star North Pipes Super Project
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. Eight mines were brought into =
production during the 1970s and early 1980s on deposits discovered within the
immediate area. The uranium bearing pipes which were mined are the second
highest grade uranium mineral deposits in the world and the highest grade in the
United States. Previously mined mineralization in these pipes has graded about
0.6% to 0.7% uranium or about 12 to 14 pounds per ton. In addition to uranium
they are known to contain copper, zinc, silver, vanadium, cobalt, nickel,
molybdenum, gallium, germanium and other metals. Past producers have recovered
copper, silver and vanadium as by-products of uranium mining. Liberty Star
Uranium & Metals holds about 300 pipe targets, approximately 40% of the
currently identified total. Approximately 22 other companies hold the remainder.
SAFE HARBOR
STATEMENT
Statements in this news
release that are not historical are forward-looking statements. Forward-looking
statements in this news release include that joint ventures will be aggressively
pursued.
It is important to note
that the Company’s actual outcomes may differ materially
from those statements contained in this press release. We may not be able to
reach agreement with any potential joint venture partners. Readers should refer
to the risk disclosures outlined in the Company’s recent
10-KSB and the Company’s other periodic reports filed
from time to time with the Securities and Exchange Commission.
Contact: