Tucson, Arizona – March 16, 2011 – Liberty Star Uranium & Metals Corp. (the “Company” LBSR: OTCBB) is pleased to announce that Liberty Star has contracted SRK Consulting to produce a NI 43-101 style technical report covering the company’s Walnut Creek Tombstone Porphyry-Precious Metals Project.
The Walnut Creek Tombstone Porphyry-Precious Metals Project consists of 33 unpatented federal lode-mining claims over a projected covered porphyry copper mineral center in Cochise County, Arizona. These geologic data have been collected and interpreted over several decades starting in 1972 by Liberty’s President and Registered Professional Geologist James A. Briscoe. Metals prices now make this project a high priority target of potentially large size. Based on geologic and geochemical characteristics as well as similarities to the 25 miles distant Bisbee porphyry system, significantly high grades of copper, moly, gold, silver, lead, zinc and other by-product metals are inferred. Liberty Star’s claims reside within or adjacent to a large volcanic and intrusive geologic feature known as a caldera. These caldera structures are present throughout southern Arizona, making the region one of the richest porphyry copper areas in the world. The Tombstone caldera, identified by Company CEO Briscoe and verified by the US Geological Survey (USGS), of which these claims are related but outside of the caldera, also hosts commercially significant gold and silver deposits, as well as a deep porphyry copper system drilled in 1973.
Members of SRK’s engineering/scientific staff supervised by Qualified Person and SRK’s Tucson Office Principle Geologist Corolla Hoag, and geologist Dr. Jan Rasmussen have visited the Company’s Tombstone property recently. Their information will be combined with the previously gathered geochemical, geophysical and computer modeling data and undergo a thorough technical analysis.
Comments Liberty Star’s CEO James Briscoe, “SRK employs some of the best scientists in our industry. I am sure their arms-length technical report will be thorough, complete and professional. Given the terrain and infrastructure, core drilling can proceed as soon as drill permits have been obtained, estimated within 60 to 90 days. Drilling in this climatic zone can be done year-round.”
“James A. Briscoe” James A. Briscoe,
President/Director
Liberty Star Uranium & Metals Corp.
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 high grades of copper, moly, gold, silver, lead, zinc and other by product metals are inferred on our property; and core drilling can proceed as soon as drill permits have been obtained, estimated within 60 to 90 days. Factors which may delay or prevent these forward-looking statements from being realized include misinterpretation of data; the technical report may not recommend further work on the claims, we may not be able to get equipment or labor as we need it; we may not be able to raise sufficient funds to complete our intended exploration or carry on operations; 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.
Contact
Tracy Myers
Phone (520) 731-8786