It is worse than that Eric. Now LBE has announced some 12.34% Nickel. Yikes!
TSX-V: LBE For Immediate Release
Press release 04-2004 February 5, 2004
Liberty Announces Further Positive Drill Results From McWatters Nickel Property
Assays include 5 m grading 12.34% Ni and 4 m grading 4.01% Ni
TIMMINS, ONT -- Liberty Mineral Exploration Inc. (TSX-V: LBE) has reported further positive results from ongoing drilling at its McWatters nickel property near Timmins, Ont., which include an intersection of massive sulphide mineralization grading 12.34% nickel over 5.0 metres on the western edge of the deposit. This recent drilling shows that cross faulting has shifted the eastern extremity of the McWatters deposit to the north and the western extremity to the south, indicating that mineralization remains open in all directions.
These results incorporate the balance of holes from the 2003 drill program and the first four holes of the 4,000-metre 2004 drill campaign. Holes L-03-8 and L-03-9, collared in the eastern part of the deposit and drilled 15 metres to the north of previous holes, intersected 0.5 metres and 3.0 metres of massive sulphides respectively. This indicates that cross faulting has shifted the deposit to the north. Drilling to test the eastern extension of the deposit is underway.
Along strike to the west, hole L-04-12 intersected 35.5 metres grading 2.24% nickel, including 5.0 metres of massive sulphides. Holes L-04-14 and L-04-15, drilled 15 metres to the west and south of L-04-12 respectively, intersected highly faulted rocks with little or no mineralization. The company is currently using surface and down-hole, large loop electro-magnetic surveys to evaluate the possibility that mineralization has shifted to the south along the fault. Drilling to the west will resume once these geophysical results have been evaluated.
“Our goal with this program was to gain a better understanding of geological and structural controls and continuity of the deposit. We accomplished this objective, and are very encouraged that the McWatters deposit appears to be open along strike to the east and west, merely shifted by cross faulting,” said Liberty’s President Eduard Ludwig. “We continue to intersect good grades, and our next phase of drilling will focus on defining the eastern strike extension of the deposit and follow up on the results of the geophysical survey to the west.”
Drilling Highlights
Hole Number Depth (m) Core Length (m) Nickel (%) Remarks
L-03-06, drilled vertical, base line, 1+22 E 12.5-23.0 10.5 0.56 Collared on eastern margin of deposit
L-03-07, drilled vertical, base line, 0+91 E 35.0-45.5 10.5 0.41 Test eastern edge of deposit
L-03-08, drilled vertical, 0+15N, 0+91E 50-60.5
90.5-93.0
Incl. 92.0-93.0 10.5
2.5
1.0 0.66
0.885
1.72 Test zone to the north of L-03-07
L-03-09, drilled vertical, 0+75E,
0+15 S 86.0-98.0
Incl. 91.0-95.0 12.0
4.0 m 1.60
4.01 Test to north of cross fault
L-03-10, drilled vertical, base line, 0+45W 101.0-128.0
Incl. 122.0-128.0 27.0
6.0 1.16
3.80 Test western edge of deposit
L-04-11, drilled vertical, base line, 0+61 W 55.5-58.5 3.0 0.584 Zone faulted off
L-04-12, drilled vertical, 0+45W, 0+15S 91.5-127.0
incl. 120.0-125.0 35.5
5.0 2.24
12.34 Newly-discovered massive sulphides
Swastika Labs Ltd. performed all assays on split core. Results are for extractable sulphide nickel mineralization only. Eduard H. Ludwig HBSc.Geol., is Liberty’s Qualified Person for the purposes of National Instrument 43-101, and is responsible for the technical information contained in this press release.
About Liberty Mineral Exploration
Liberty Mineral Exploration Inc. is a Canadian mineral exploration company with a focus on exploring and developing nickel and cobalt properties near Timmins, Ontario. Liberty’s shares trade on the TSX Venture Exchange under the symbol LBE. |
