TSX: LBE
EDMONTON, Jan. 15 /CNW/ - Liberty Mines Inc. ("Liberty or the Corporation") is pleased to announce that diamond drilling at the Hart Nickel Project has intersected 11.45 meters averaging 2.05% Ni in hole H-07-45. This zone is part of a larger mineralized intersection spanning 25.55 meters of drill core with a weighted average of 1.19% Ni. Additionally, H-07-50 intersected a 26.20 meter zone averaging 0.51% Ni, that includes two massive to semi-massive intervals of 2.70 and 2.45 meters that averaged 1.09 and 1.47% Ni, respectively. Both these holes intersected the main sulphide pool described in previous releases, with the latter intersecting the zone at a depth of 425 meters, indicating that the large mineralized zone continues at depth.
H-07-44 and H-07-46 intersected a mineralized horizon approximately 350 meters east of the main zone at depths of 200 and 275m below surface respectively. Although it will take more drilling to determine if the zones encountered are part of the large accumulations intersected in holes such as H-07-45, the high grades certainly demonstrate the potential for additional mineralization in more distal locations within the same komatiitic flow. The flow has been mapped over a strike length of over 2 kilometers, representing a large, prospective target.
The core lengths presented in the table are the intersected core lengths, and the composite lengths are core weighted.
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Hole Number From (m) To (m) Interval (m) Ni%
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H-07-44 257.00 259.20 2.20 0.60
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H-07-45 363.90 389.45 25.55 1.19
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Including 11.45 2.05
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H-07-46 183.50 183.70 0.20 5.47
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H-07-49 248.00 256.00 8.00 0.27
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Including 0.10 1.35
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H-07-50 426.00 452.20 26.20 0.51
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Including 2.70 1.09
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And 2.45 1.47
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Borehole Coordinates
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Hole Number Collar Coordinates Azimuth Dip
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Easting Northing Elevation
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H-07-44 2900 3920 2292 360 -70
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H-07-45 2500 3800 2300 355 -63
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H-07-46 2900 3920 2292 360 -45
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H-07-47 2650 3850 2297 350 -75
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H-07-49 2575 3900 2302.8 360 -65
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H-07-50 2525 3800 2300.6 355 -71
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H-07-50 contains two massive to semi-massive sulphides zones that are separated by an intrusive felsic dyke, similar in composition to that observed in H-07-37. The size of the dyke appears to have substantially decreased in the vicinity of H-07-50, increasing the potential for the large sulphide zone to continue at depth. The orientation and full impact of this dyke is still unknown but will be deciphered with future diamond drilling.
H-07-47 and H-07-49 denote the eastern margins of the main horizon, with the latter intersecting a narrow massive sulphide interval. H-07-47 intersected far enough to the east not to alter previously reported strike lengths.
"This is an incredibly encouraging group of results," said William Randall, Liberty's Vice President of Exploration. "The significance of H-07-45, in addition to its wide interval, is the confirmation of high grade material within the main zone; while H-07-50 indicates the same zone is wide open at depth. We are anxious to get the three drills turning again when the men return from their Christmas break and training," he added.
The project was supervised by Liberty's Vice President of Exploration, William Randall MSc (Geology), Tyron Breytenbach BSc (Geology) and by Richard Allard P. Geo., a qualified person as defined by National Instrument 43-101. According to the company sampling protocol, half of the diamond drill core is sampled and sent to ALS CHEMEX in Timmins to be prepared for analysis. The prepared samples are then forwarded to the ALS CHEMEX Laboratory in Vancouver for analysis. Base metal values are analyzed by aqua regia digestion and ICP-AES finish. A rigorous QA/QC program is implemented consisting of regular insertion of standards and blanks to ensure laboratory integrity.
About Liberty Mines Inc.
Liberty Mines Inc. is a producer of nickel and is focused on the exploration, development and production of nickel, copper, cobalt and platinum group metals from its properties in Ontario, Canada.
CAUTIONARY STATEMENT
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward looking statements". All statements other than statements of historical fact included in this release, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Liberty, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Liberty's expectations are exploration risks, commodity prices, assumed startup and operating costs detailed herein and from time to time in the filings made by Liberty with securities regulators.