Mr. Chris Stewart reports
LIBERTY MINES INC. INTERSECTS 36 METERS OF 0.82% NICKEL 300 METERS EAST OF HART
Liberty Mines Inc. has released initial drill results from its 2011 exploration program. The most significant drill intercept came from a drill hole collared 300 metres east of the Hart nickel deposit, which has an indicated resource of 1.5 million tonnes grading 1.4 per cent nickel (Ni). The drill hole was designed to follow up on historical drill-hole intercepts of 1.62 per cent Ni over 1.9 metres and 5.47 per cent Ni over 0.2 metres, 50 metres to the east. Drill-hole H-11-11 was drilled across the down-dip projection of these historical intercepts intersecting 0.82 per cent Ni over a drilled width of 36 metres from 335 to 371 metres, including 2.05 per cent Ni over 9.5 metres from 352 to 361.5 metres.
To date, this intercept rivals some of the deeper drill intercepts in the Hart deposit and may represent a new channel flow horizon supporting the Kambalda model of these deposits occurring in clusters. Mineralization in drill-hole H-11-11 is typical of these nickel deposits and is described as disseminated, blebby and fracture infilled settling into net textured to semi-massive sulphides.
"The nickel mineralization in this new drill hole intercept, appears to mimic the morphology of the Hart Deposit where we see relatively narrow widths for the upper portions of the deposit and gradually widening significantly at depth due to deposition of sulphides in embayments or troughs. As this is still quite early in our exploration program, this area will certainly merit additional drilling to help delineate this drill hole intercept as a potential new nickel resource" commented VP of Exploration Peter Caldbick.
Additional drilling focussed on a series of short drill holes on the Hart Nickel Deposit designed to bring near surface inferred resources up to the indicated category. In addition, the program was designed to support the engineering department in the mine planning process with the possibility of increasing both thickness and nickel grades of the Hart upper west resource. The program was successful in defining two steeply dipping zones that extend to surface. Highlights from this program include drill hole H-11-04 which intersected 1.20% Ni over 7.0 meters from 66.0 to 73.0 meters and 1.32% Ni over 2.0 meters from 88.50 to 90.50 meters. Drill hole H-11-03 intersected 1.36% Ni over 4.0 meters from 57.0 to 61.0 meters. Results are tabulated below.
-***- ---------------------------------------------- Hole Number From(m) To(m) Interval *(m) Ni% ---------------------------------------------- H-11-01 44.0 56.0 12.0 0.24 Including 53.0 54.0 1.0 0.35 ---------------------------------------------- H-11-02 52.0 54.0 2.0 0.45 61.0 65.0 4.0 0.31 69.0 72.0 3.0 0.30 ---------------------------------------------- H-11-03 57.0 61.0 4.0 1.36 ---------------------------------------------- H-11-04 66.0 73.0 7.0 1.20 88.5 90.5 2.0 1.32 ---------------------------------------------- H-11-05 22.0 27.0 5.0 0.42 56.6 58.1 1.5 0.73 ---------------------------------------------- H-11-06 22.0 30.0 8.0 0.57 64.0 70.0 6.0 0.79 ---------------------------------------------- H-11-07 52.6 65.0 12.4 0.31 81.0 91.0 10.0 0.49 ---------------------------------------------- H-11-08 38.0 49.0 11.0 0.33 72.0 76.0 4.0 0.27 ---------------------------------------------- H-11-09 36.0 37.0 1.0 0.84 ---------------------------------------------- H-11-10 NSV ---------------------------------------------- H-11-11 335.0 371.0 36.0 0.82 Including 352.0 361.5 9.5 2.05 Including 355.5 357.5 2.0 3.21 ----------------------------------------------
-****- *True widths are generally 70-95% of reported widths, where possible to ascertain. *The core lengths presented in the table are the intersected core lengths. The composite lengths are core weighted.
Borehole Coordinates
-***- ---------------------------------------------------------------- Hole Number Collar Coordinates Azimuth Dip Easting Northing Elevation ---------------------------------------------------------------- H-11-01 2325 4035 2303 360 -45 ---------------------------------------------------------------- H-11-02 2325 4035 2303 360 -60 ---------------------------------------------------------------- H-11-03 2375 4050 2303 360 -45 ---------------------------------------------------------------- H-11-04 2375 4050 2303 360 -60 ---------------------------------------------------------------- H-11-05 2400 4075 2303 360 -57 ---------------------------------------------------------------- H-11-06 2425 4075 2303 360 -59 ---------------------------------------------------------------- H-11-07 2450 4050 2303 360 -55 ---------------------------------------------------------------- H-11-08 2450 4050 2303 360 -45 ---------------------------------------------------------------- H-11-09 2400 4075 2303 360 -45 ---------------------------------------------------------------- H-11-10 2850 3840 2290 360 -70 ---------------------------------------------------------------- H-11-11 2900 3850 2290 360 -75 ---------------------------------------------------------------- -****-
Deep drilling on the Hart Deposit has now commenced with the objective of determining the down plunge potential of nickel mineralization below a cross cutting gabbroic dyke.
Croxall/West Redstone Project The initial drill program slated for the Croxall/West Redstone claim package will focus along strike of the historic 2005 Mustang drill intercept of 3.34m of 0.62% Ni. An east/west VTEM electromagnetic anomaly signature from the 2008 airborne survey is believed to coincide with the historic intercepts and will help guide the upcoming drill program.
Groves Project The initial start of the Groves 2011 Exploration Project is well underway with the building of a 10.5 km drill trail into the historic non 43-101 compliant resource of 500,000 tons of 1.5% Cu + Ni combined (Canadian Mines Handbook 1957). Following the creation of the trail geophysical crews and Liberty personnel will be on site in preparation for the upcoming drill program. An existing grid created in 2008 will be refurbished for a program of ground geophysics including magnetics, mise a la masse and IP.
The project is being supervised by Liberty's Vice President of Exploration, Peter Caldbick BSc, PGeo a qualified person as defined by National Instrument 43-101. The technical contents of the press release have been reviewed and approved by Peter Caldbick and Richard Allard PGeo. A rigorous quality assurance program is employed which includes the insertion of standards and blanks for each batch of samples. Samples of the NQ size drill core are sawed in half, with one-half sent to a commercial laboratory, Agat Laboratories Mississauga, Ontario, and the other half retained for future reference. Core samples are routinely analyzed for nickel and copper using sodium peroxide fusion and ICP finish. Any analyses greater than 5,000 ppm are re-analyzed using total acid digestion. Check analyses of the intercepts reported in this press release are being completed at the laboratory. A systematic program of checking zone assays at another lab has commenced using total acid digestion and atomic absorption techniques.
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. It owns and operates the Redstone nickel concentrator near Timmins Ontario.
About Jilin Jien Nickel Industry Co., Ltd. Jilin Jien is one of the largest holding subsidiaries of Jilin Horoc Nonferrous Metal Group Co., Ltd., which was founded in 1960. Horoc and Jien own four nickel mines, one molybdenum mine, one silver mine, two smelters, seven refineries, and two chemical plants with total assets over RMB 3.0 billion. The company professionally provides all kinds of nickel, copper, cobalt salts and nonferrous metal products for plating, chemical plating, battery materials and metallurgy. Jilin Jien is one of the biggest producers of nickel sulfate in the world, with annual output of 25,000 tons. In September 2003, Jilin Jien Nickel Industry Co., Ltd. was listed on the A-share market of the Shanghai Stock Exchange with stock code of 600432.
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 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; regulatory approvals; receipt of mining permits and leases; and assumed startup and operating costs detailed herein and from time to time in the filings made by Liberty with securities regulators. Forward-looking statements speak only as of the date on which they are made. The Company undertakes no obligation to publicly update any such statement or reflect new information or the occurrence of future events or circumstances, except where required by securities regulations. Accordingly, readers should not place undue reliance on forward-looking statements.
For further information please contact: Chris Stewart, President & CEO Phone (780) 485-2299 Fax 780-485-2253 cstewart@libertymines.com