Liberty Assembles the Groves Nickel Copper PGM Project
Friday, September 7th, 2007
Liberty Mines Inc. is pleased to announce the acquisition of a block of contiguous mining claims encompassing the Groves nickel copper platinum group metals (â€œPGMâ€) deposit, located approximately 15 km south east of Gogama, Ontario. The 28 mining claims consist of 400 units or 6,400 hectares which cover a magnetic anomaly interpreted as a large gabbroic intrusion. The anomaly is approximately 12 km long and varies in width from 1 km to 2 km.
The center of the anomaly contains an historically reported resource of 500,000 tons (Canadian Mines Handbook, 1957) of 1.5% combined copper (â€œCuâ€) plus nickel (â€œNiâ€) above the 45.7m level in two separate zones, which was not drilled to NI 43-101 standards and should not be relied upon. Within the gabbroic/dioritic core, the southern portion of the two zones is continuous over a 69m strike length with an average historical grade of 0.975% Ni and 1.18% Cu over a 5.85m depth. The northern zone can be traced eastward for 123m at an average grade of 1.56% Ni and 1.46% Cu with a 3m depth, also above the 45.7m level. Both zones are open at depth. Values of 3.41 g/t of platinum and 4.96 g/t iridium have been historically reported over 2.68m. Grab samples up to 4.6 oz per ton have also been historically reported on the property.
There has been limited historical work on the newly acquired properties. Liberty plans to conduct airborne magnetometer and electromagnetic surveys over the entire claim block. These results, in conjunction with initial sampling and mapping, will aid in an exploration program designed to both confirm and expand the historical resource to NI 43-101 standards, and explore the adjacent favourable geology for similar mineralization. This phase of exploration is tentatively scheduled for the summer of 2008.
â€œStaking these additional claims along the interpreted grabbroic intrusion that is known to host an historically defined Ni-Cu-PGM deposit adds to our exploration potential,â€ said Will Randall, Libertyâ€™s Vice President of Exploration. â€œEven though our focus will remain within the prolific Shaw Dome area, this adds more versatility and depth to our exploration potential,â€ he added.