SOURCE: Liberty Mines Inc.

October 03, 2007 09:52 ET

Liberty Intersects 2.15% Nickel Over 14.55 m at the Hart Project

EDMONTON, AB--(Marketwire - October 3, 2007) - Liberty Mines Inc. (TSX-V: LBE) ("Liberty or the Corporation") is pleased to announce that continued diamond drilling at the Hart Nickel ("Ni") Project has continued to intersect the largest nickel sulphide zone discovered to date on the property. Borehole H-07-35 intersected the mineralized horizon approximately 25 meters west of borehole H-07-30. H-07-35 intersected 14.55 meters averaging 2.15% Ni, and is interpreted as part of the same sulphide pool first identified by borehole H-07-30 which intersected 1.17% Ni over 27.4 meters. The core lengths presented in the table are the intersected lengths, and the composite lengths are core weighted.

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       Hole Number     From (m)    To (m)    Interval (m)      Ni%
       -----------------------------------------------------------
       H-07-35           370.00    384.55           14.55     2.15
       -----------------------------------------------------------
       Including                                     1.85     4.19
       -----------------------------------------------------------
       H-07-36           288.00    290.20            2.20     0.53
       -----------------------------------------------------------
       Including                                     0.30     2.10
       -----------------------------------------------------------
       H-07-33           249.00    252.30            3.30     0.28
       -----------------------------------------------------------

                          Borehole Coordinates
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                           Collar Coordinates
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  Hole Number   Easting      Northing     Elevation    Azimuth     Dip
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  H-07-35        2475         3800         1000         360        -68
  --------------------------------------------------------------------
  H-07-36        2500         3900         1000         360        -70
  --------------------------------------------------------------------
  H-07-33        2425         3880         1000         360        -45
  --------------------------------------------------------------------

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Diamond drill hole H-07-35 has intersected what is interpreted as the same large sulphide pool discovered by borehole H-07-30 as reported in the September 10 press release. The heavily mineralized zone continues to be open the east, west and at depth, and continues to grow with every borehole drilled so far. The nickel bearing zones in these holes consist of massive, semi-massive, net-textured and heavily disseminated sulphides interpreted to have accumulated by gravitational settling in a large paleotopographic depression. Diamond drilling is currently testing the eastern extension of this zone.

Boreholes H-07-36 and H-07-33 intersected the mineralized horizon at shallower depths representing the topographic high related to the sulphide pool and the western margin of the deposit respectively.

"Intersecting such a large and high grade zone in the first hole drilled on strike with borehole H-07-30 was incredibly important to Liberty," said William Randall, Liberty's Vice President of Exploration. "We are now certain of our geological model and feel that we can continue to expand this deposit with the same level of success shown to date," 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 mineral exploration and development company with a focus on the development and mining of nickel, cobalt, copper and platinum group metals from its properties in Ontario.

CAUTIONARY STATEMENT

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

Press Release 33-07

Contact Information

  • For further information please contact:
    Dr. Gary Nash, PhD (Physics)
    President & CEO
    Liberty Mines Inc.
    Phone (416) 238-9736
    Fax 780-437-7898
    e-mail: Email Contact