Liberty Mines Inc.
TSX : LBE

Liberty Mines Inc.

January 07, 2008 08:00 ET

Liberty Intersects 1.37% Ni Over 14.20 m at the Hart Project

EDMONTON, ALBERTA--(Marketwire - Jan. 7, 2008) - Liberty Mines Inc. (TSX:LBE) ("Liberty or the Corporation") is pleased to announce that diamond drilling at the Hart Nickel Project has expanded the large nickel ("Ni") sulphide zone discovered last year with borehole H-07-48 intersecting 14.20 meters averaging 1.37% Ni. Diamond drill hole H-07-43 intersected the same sulphide pool approximately 40 meters east of borehole H-07-48, encountering 26.3 meters of disseminated nickel sulphides with a 1.3 meter massive to semi-massive sulphide basal component that averaged 1.62% Ni. Together with holes H-07-35 and H-07-30, which intersected 2.15% Ni over 14.55 meters and 1.17% Ni over 27.4 meters respectively, diamond drilling has identified the lower sulphide pool for over 150 meters on strike between 310 and 420 meters below surface. The zone still remains open to the east and west. The core lengths presented in the table are the intersected core lengths, and the composite lengths are core weighted.



----------------------------------------------------------------------------
Hole Number From (m) To (m) Interval (m) Ni%
----------------------------------------------------------------------------
H-07-48 407.00 421.2 14.20 1.37
----------------------------------------------------------------------------
H-07-43 405.00 432.60 27.60 0.37
----------------------------------------------------------------------------
Including 431.30 432.60 1.30 1.62
----------------------------------------------------------------------------
H-07-37 461.00 464.00 3.00 1.08
----------------------------------------------------------------------------
H-07-34 302.89 304.68 1.79 1.37
----------------------------------------------------------------------------
H-07-31 216.15 221.70 5.55 0.93
----------------------------------------------------------------------------
Including 3.70 1.13
----------------------------------------------------------------------------
And 0.30 5.10
----------------------------------------------------------------------------
H-07-26 144.00 148.00 4.00 0.80
----------------------------------------------------------------------------
Including 1.60 1.42
----------------------------------------------------------------------------
H-07-24 296.00 299.00 3.00 1.28
----------------------------------------------------------------------------
Including 1.00 3.36
----------------------------------------------------------------------------


Borehole Coordinates

----------------------------------------------------------------------------
Collar Coordinates
-----------------------------------
Hole Number Easting Northing Elevation Azimuth Dip
----------------------------------------------------------------------------
H-07-24 2575 3900 2302.80 360 -70
----------------------------------------------------------------------------
H-07-26 2545 4009 2304.50 360 -65
----------------------------------------------------------------------------
H-07-31 2450 3910 2302.00 360 -50
----------------------------------------------------------------------------
H-07-32 2450 3910 2302.00 360 -70
----------------------------------------------------------------------------
H-07-34 2550 3900 2302.25 360 -65
----------------------------------------------------------------------------
H-07-37 2525 3808 2300.80 19 -72
----------------------------------------------------------------------------
H-07-43 2525 3808 2300.80 17 -65
----------------------------------------------------------------------------
H-07-48 2550 3800 2300.00 355 -64
----------------------------------------------------------------------------


Diamond drill hole H-07-37 intersected the komatiitic basal contact at a depth of approximately 450 meters below surface encountering a 3 meter massive to semi-massive sulphide zone averaging 1.08% Ni. Drill core revealed that a relatively large felsic dyke appears to cross-cut the zone, leaving open the possibility of intersecting larger zones at depth below the dyke. The orientation and impact of this dyke is still unknown and will be deciphered with future diamond drilling.

The balance of the reported holes confirmed the mineralization at shallower depths, with the exception of H-07-32 which is believed to have been stopped short of the zone, as revealed by subsequent drilling. Diamond drill holes H-07-38, H-07-39, H-07-41, and H-07-42 were designed to test possible mineralization at more distal sites and do not directly pertain to the mineralized zones described in this report.

"Drill results so far have demonstrated that the Hart deposit has the potential to host very significant economic tonnage," said William Randall, Liberty's Vice President of Exploration. "We have three drills currently turning on this project, a clear sign of the faith we have in its future role within the company. Two drills are testing and defining the upper and lower zones, with 25 and 50 meter centers respectively, while the third is going to explore the deeper levels of the deposit below 700 meters from surface," he added.

The project was supervised by Liberty's Vice President of Exploration, William Randall MSc (Geology), Tyron Breytenbach BSc (Geology) and by Richard Allard P. Geo., a qualified person as defined by National Instrument 43-101. According to the company sampling protocol, half of the diamond drill core is sampled and sent to ALS CHEMEX in Timmins to be prepared for analysis. The prepared samples are then forwarded to the ALS CHEMEX Laboratory in Vancouver for analysis. Base metal values are analyzed by aqua regia digestion and ICP-AES finish. A rigorous QA/QC program is implemented consisting of regular insertion of standards and blanks to ensure laboratory integrity.

About Liberty Mines Inc.

Liberty Mines Inc. is a producer of nickel and is focused on the exploration, development and production of nickel, copper, cobalt and platinum group metals from its properties in Ontario, Canada.

CAUTIONARY STATEMENT

This News Release includes certain "forward looking statements". All statements other than statements of historical fact included in this release, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Liberty, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Liberty's expectations are exploration risks, commodity prices, assumed startup and operating costs detailed herein and from time to time in the filings made by Liberty with securities regulators.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Contact Information

  • Liberty Mines Inc.
    Dr. Gary Nash, PhD (Physics)
    President & CEO
    (416) 238-9736
    (780) 437-7898 (FAX)
    Email: gnash@libertymines.com