Message #21 From:
NewsBot Date: April 13, 2008 03:17:30 PM
Liberty Star Receives Expression of Interest by More Than One Global Mining Company for JV at Big Chunk
Liberty Star Uranium & Metals Corp. (the “Company”)
(OTCBB: LBSU) is pleased to announce that there have been expressions of
interest by more than one large global mining company in Joint Venturing
the Company’s Big Chunk Super Project adjacent
to the Northern Dynasty Pebble Deposits. It is worth noting that these
expressions came within two days of NR-72
expressing the Company’s interest in finding
such a JV partner.
It is early in the process and the Company has no way of judging whether
such a joint venture partnership deal will come to fruition. However, we
are optimistic that it will. The technical data including geologic,
geophysical and geochemical data are extensive, detailed (please see News
Release 72) and of the highest standards of accuracy. They have
undergone QA/QC (Quality Assurance/ Quality Control) and meet Canadian
Instrument 43-101 rules, though a technical report has not been written,
as Liberty Star is a U.S. company. The data clearly show anomalies and
characteristics of the caldera structure. A virtual data room will be
set up to allow potential partners to review all of the pertinent data
during an examination period. The Company will then be able to evaluate
Joint Venture proposals received, if any.
ON BEHALF OF THE BOARD OF DIRECTORS
“James A. Briscoe”
James
A. Briscoe, President/Director
About
Liberty Star’s Big Chunk Super Project
The Company currently holds 707 State of Alaska 160 acre mineral claims,
spanning about 177 square miles centered 25 miles northwest of the
village of Iliamna on the north shore of Lake Iliamna. The Big Chunk
claims adjoin Northern Dynasty's Pebble Project on the north and west
borders, forming a large half donut shape. Included is the Baltusrol
block about 8 miles north which covers a large area of Porphyry copper
mineralization. Three properties held by Liberty Star, Northern Dynasty
and Full Metal Minerals cover the entirety of the Big Chunk caldera, the
volcanic-intrusive feature thought to be the source of mineralization in
the area. For many decades it has been known by geologists that Porphyry
copper-gold-moly deposits occurred in clusters. It is now well
recognized that this clustering is related to very large explosive
volcanic features known as calderas. The circular moat structure in a
caldera is frequently mineralized. Examples of mineralized caldera moat
structures or caldera edges include Silver Bell, AZ, Round Mountain, NV,
Tombstone, AZ, Mission–Sierrita mining
District, AZ. The similarity of the Pebble mineral pattern published by
Northern Dynasty Mining in 1973 led geologist Jim Briscoe to recognize
its similar pattern to the Silver Bell, AZ Porphyry copper-moly deposits
on the moat structure of the Silver Bell caldera and resulted in the
land acquisition by Liberty Star along the moat structure of the Big
Chunk Caldera, which includes the Pebble deposit.
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 we will joint venture with a partner to explore our
Big Chunk property. It is important to note that the Company’s
actual outcomes may differ materially from those statements contained in
this press release. Factors which may delay or prevent these
forward-looking statements from being realized include misinterpretation
of data; that we may not be able to get any major mining company or any
other potential partner interested in joint venturing exploration of our
properties; we may not be able to get equipment or labor as we need it;
that we may not be able to raise sufficient funds to complete our
intended exploration; 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 10-KSB and the Company’s other
periodic reports filed from time to time with the Securities and
Exchange Commission.
