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Gold, Copper Exploration Drilling Update on Big Chunk Super Project, Alaska

Date : 08/28/2012 @ 2:27PM
Source : Business Wire

Gold, Copper Exploration Drilling Update on Big Chunk Super Project, Alaska

Liberty Star Uranium & Metals Corp. (“Liberty Star” or the “Company”)(LBSR: OTCQB) is pleased to announce the Company has received word from the field that drilling has progressed to about 500 feet at target #1 (of 12), drill hole #1 on the Big Chunk Super Project, south block. The target for this hole is a depth of 1,650 feet (500 meters) where ZTEM data shows a profound resistivity (sulfide?) low which may equate to a porphyry copper center.

Field Geologist Gregory McGilvray reports that the Liberty Star drillers have intersected black altered sedimentary-volcanic rock commonly known as “hornfels.” This rock has disseminated iron sulfide (pyrite) in it.

The drilling has been rapid. The geologic crew is still catching up with the logging, which includes recording data with the digital data logger, high resolution photography, scanning by a XRF analyzer, a magnetic and electronic susceptibility meter, and ultra violet light. All data will be recorded on the Big Chunk field camp computer server and then transmitted by a satellite uplink to the Internet, and batch transmitted and captured on the Tucson office server for distribution and analysis by the appropriate experts on our Technical Advisory Board, as well as Chief Geologist Jim Briscoe and other specialists when needed. Core cutting and assay procedures have been discussed in News Release 133, August 6, 2012.

“James A. Briscoe” James A. Briscoe, Professional Geologist, AZ CACEO/Chief GeologistLiberty Star Uranium & Metals Corp.

About the Big Chunk Super Project:

Liberty Star, through its wholly owned Alaska subsidiary, Big Chunk Corp., holds exclusive mineral exploration rights to 612 state mining claims in two blocks covering approximately 177 square miles in southeastern Alaska. The Big Chunk claims were initially staked in 2003 along the Big Chunk caldera, which is believed to host Northern Dynasty Minerals’/Anglo American’s Pebble project. Liberty Star is currently conducting exploratory drilling on specific targets for porphyry copper, gold, molybdenum (moly), silver and zinc. SRK Consulting submitted a NI 43-101 compliant technical report on the Big Chunk Super Project in 2010. It is available on Liberty Star’s web site www.libertystaruranium.com.

Forward-Looking Statements

Statements in this news release that are not historical are forward-looking statements. Forward-looking statements in this news release include ZTEM data shows a profound resistivity (sulfide?) low which may equate to a porphyry copper center. Factors which may delay or prevent these forward-looking statements from being realized include: the failure of our exploration program to identify targets; we may not be able to raise sufficient funds to complete our intended exploration, keep our properties or carry on operations; and an inability to continue exploration due to weather, logistical problems, labor or equipment problems or hazards even if funds are available. Despite encouraging data there may be no commercially exploitable mineralization on our properties. Readers should refer to the risk disclosures in the Company’s recent 10-K and the Company’s other periodic reports filed from time to time with the Securities and Exchange Commission.



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