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TUCSON, Ariz.--(BUSINESS WIRE)--Liberty Star Uranium & Metals Corp. (???Liberty
Star??? or the ???Company???)(LBSR:
OTCQB) is pleased to announce a tentative schedule beginning in mid-
to late April for a ZTEM airborne electromagnetic survey over the
Company???s Hay Mountain claims in Cochise County, Arizona. Liberty Star
has set up a separate operating account for the Hay Mountain portion of
the Tombstone
Super Project and has deposited $50 thousand in that account.
Additional funds will be directed into this account to pay for ZTEM,
geochem and diamond drilling. Geotech
believes that electromagnetic conditions will be good for the airborne
survey as early as mid- to late April. The helicopter borne flight will
take about a week, assuming good weather. Modeling and analysis of the
data will take approximately 2 weeks.
“Liberty
Star Completes Archeological Study on Hay Mountain??MEPs”
Other highlights for the 1st quarter 2013:
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Operational overhead has been substantially reduced. The Company no
longer maintains offices separate from the Kolb Rd. warehouse, and the
small headquarters office at Sutler Lane, central Tucson. A new
accounting firm has been engaged based on its competitive pricing and
specialization in the small cap and mining industries. These and other
measures will save approximately $150,000 per year in operating
overhead.
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The second archeological study announced in NR 148 (Feb 22 ???Liberty
Star Completes Archeological Study on Hay Mountain??MEPs???) has
been completed and has been sent to the Arizona State Land Department
in order that we can obtain permits for geochem sample collection and
future drill siting if warranted in our northern most MEPs (Mineral
Exploration Permits). No archaeological remains were identified in
this survey.
Comments CEO and Chief Geologist Jim Briscoe: ???By cutting costs on an
already lean operation and judiciously drawing down on the Deer Valley
funding we are able to move ahead at Hay Mountain. ZTEM will allow us to
manage our targets efficiently and at a substantially lower cost than
without it. I was an early adopter of ZTEM technology, which is now
almost a standard procedure for porphyry copper targets throughout the
world.???
About Hay Mountain, Southeast Arizona
The Hay Mountain block of the??Tombstone
Super Project??(Cochise County, Arizona) consists of 57 unpatented
federal lode mining claims in addition to 15 Arizona State Mineral
Exploration Permits (MEPs). MEPs are the first step in completing an
Arizona State Land Mining Lease. The Company has completed the required
assessment work to hold the MEPs. This land position covers a
geologically, geophysically and geochemically indicated, completely
covered, porphyry copper-moly-silver-gold, and rare earth elements
mineral center. One major target within the Hay Mountain claim block is
defined along with four other smaller targets. Liberty Star has recently
discovered a large intrusion ??? indicated by an aerially extensive low
flight level magnetic survey ??? under and partially exposed in and around
the Tombstone caldera (NR
129). Mineralization is clearly associated with this intrusive body.
???James A. Briscoe??? James
A. Briscoe, Professional Geologist, AZ CA
CEO/Chief Geologist
Liberty
Star Uranium & Metals Corp.
Forward Looking Statements
Statements in this news release that are not historical are
forward-looking statements. Forward-looking statements in this news
release include our exploration plans, that ZTEM airborne and modeling
can be completed within 3 weeks, that airborne ZTEM will start shortly;
and that we will have sufficient funds to carry out our intended
program. Factors which may delay or prevent these forward-looking
statements from being realized include: we may not be able to raise
sufficient funds to complete our intended exploration, keep our
properties or carry on operations; and we may be unable to continue
exploration due to permitting requirements, 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.