QualityStocks
would like to highlight Liberty Silver Corp. (OTCBB: LBSV), focused on
exploring and developing mineral properties located in North America. The company
is led by a skilled, experienced, management team and board of directors with
significant experience managing exploration, development, and mining projects. The
Trinity Silver project, located in Pershing County, Nevada, is the company's
flagship project. Liberty Silver has the right to earn a joint venture interest
in the 10,476 acre Trinity property from Renaissance Gold Inc. pursuant to the
terms of an Earn-In Agreement with Renaissance Gold Inc.'s predecessor in
interest AuEx, Inc.
In the
company’s news yesterday,
Toronto ON - January 25, 2012 - Liberty Silver Corp. announced that it has initiated its drilling program on the Trinity Silver property in Nevada. The company has retained Boart Longyear as the contract driller for a drilling program that is planned for up to 7,000 meters.
The Trinity property contains a former producing open pit silver mine, the Trinity Mine, which was operated by US Borax and produced approximately 5 million ounces of silver from 1.1 million tons of oxide ore grading 6 ounces per ton silver ("oz/ton") using heap leach technology before it was shut down in 1989 due to depressed silver prices, and never reopened. Liberty has assay data from over 400 historic drill holes, included in which are data from over 100 drill holes outside the Trinity mine resource area. This information has been integrated with historic geophysical surveys and a recently completed magnetotelluric survey into a GIS database. The aggregated data has been utilized to identify high priority targets and formulate the company's drill plan.
The company is focusing the first phase of drilling on extensions from the original pit to confirm the continuity of mineralization identified by historic drilling and to further define the extent of the resource. The extensions are identified in the company's NI43-101 Technical Report, but not included in the resource calculation. Previous drill holes revealed silver, lead, and zinc mineralization at depths of up to 150 meters and that the deposit is still open at depth.
During the course of the first phase of drilling, Liberty expects to initiate geophysical surveys on three of the six identified silver targets. All three targets encountered mineralization in previous drilling with mineralization continuing to the end of the hole. Data from the geophysics will be used to further focus the drilling on each target.
"We are excited to get our drilling program underway and better understand the significant resource potential contained in the Trinity property," stated Bill Tafuri, President and COO of Liberty. "The historic data and new geophysical surveys on the Trinity property will enable us to be more effective with our drilling, mitigate drilling risk and allow us to better control costs."
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Forward-Looking
Statement:
This release
may contain forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended. All forward-looking statements are inherently
uncertain as they are based on current expectations and assumptions concerning
future events or future performance of the company. Readers are cautioned not
to place undue reliance on these forward-looking statements, which are only
predictions and speak only as of the date hereof. Risks and uncertainties
applicable to the company and its business could cause the company's actual
results to differ materially from those indicated in any forward-looking
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