Replies to post #78314 on Liberty Star Uranium and Metals Corp (LBSR)

[MidasMulligan]

Whatever that is, science it ain't.

[fred88]

November 02, 2011 10:55 AM Eastern Daylight Time

TUCSON, Ariz.--(BUSINESS WIRE)--Liberty Star Uranium & Metals Corp. (The “Company”) (OTCBB: LBSR) is pleased to announce that it has completed 80% of the collection of rock, soil and vegetation (biogeochemical) samples over approximately 621 sample sites surrounding and over the Hay Mountain claim area, one of three or more target areas comprising the Company’s Tombstone Porphyry-Precious Metals Project. All rock and soil samples have been collected, and vegetation sample collection is ongoing and will be completed in about 20 days or by about November 20. ...................

Interpretation of the geochemical data will entail pattern analysis of the various geochemical elements over known porphyry copper and gold mineralized zones as known from previous work on mineral deposits over the last five decades since the methodology was developed These data will be used in conjunction with detailed geological mapping presented in SRK’s recently completed technical report (see News Release 110, 9/27) and in conjunction with ZTEM electromagnetic imaging that the Company plans to be carried out shortly. ZTEM has been used successfully on various porphyry copper targets throughout the world including the Company’s Big Chunk target in Alaska. These geochemical and geophysical data sets will guide the implementation of a core drilling program, which the Company will undertake as funding becomes available.

Comments Chief Geologist and CEO James Briscoe, “The recently completed SRK technical report strongly recommended further geoscientific analysis for the discovery of porphyry copper and gold over the Hay Mountain portion of our Tombstone holdings. We are exactly following their recommendations.”

[PURA VIDA]

Gold, after reading your URL, and trying a few of the tests, it is quite clear to me that Roman Freidrich and MLV were brought on from May to September to put a valuation on the speculative Big Chunk and Bonanza Hills claims.

As of September 8th, it was decided that their services collectively were no longer needed. A value had been placed on the claims and Northern Dynasty was approached. In the process of these proceedings, Bonanza Hills was returned to Liberty Star, and an ammendment to the original Thiessen/Briscoe agreement was put in force.

The fees and development costs (564K USD both BC and BH )were put on top of the Liberty Star 3.1 MM dollar loan from back in July 2010 along with intererest on that dollar amount beginning Sept. 1st 2011

Now Liberty Star is able to market the Bonanza Hills claims, but the Big Chunk Caldera is tied up until such time as Northern Dynasty feels the need to develop it.

That's all that came to me so far - but it's a good start.