Liberty Star Uranium and Metals Corp. (LBSR) records new find, stock leaps

Posted on: Wednesday, August 3rd, 2011
Written by:
Glenn

Liberty Star Uranium and Metals Corp. (OTCBB: LBSR) shares leapfrogged 17.7% to six cents Wednesday, on word of a new find. Volume for the stock surpassed 4.2 million shares.

A news release dated August 3 announced the detailed delimitation of a zoned series of geochemical metal anomalies over a large covered area which are interpreted to indicate a covered porphyry copper-gold-silver-moly mineral zone approximately 0.7 miles in diameter.

The geometry of the anomalous copper, gold, silver and potassium are just like the Lowell Guilbert porphyry copper model and are interpreted to indicate a buried porphyry copper system exhibiting a gold center and a copper and potassium halo surrounded by a very large gold-silver and low temperature metal halo.

Multi-element anomalies include copper, molybdenum (moly), gold, silver, lead, zinc and potassium, and other low temperature metals. These anomalies were determined through the analysis of vegetation samples conceived and developed by geochemist Dr. Herbert Hawkes over the copper mines south of Tucson in the 1950s and ’60s. Jim Briscoe and geochemist Shea Clark Smith, along with Dr. John Guilbert, refined the process at Silver Bell, AZ, in the mid-1990s, as well as at the Big Chunk Caldera, AK, in 2004 and 2005 where significant discoveries were made.

Comments CEO/Chief Geologist Briscoe, “This geochemical discovery falls squarely within the theoretical framework of the Porphyry Copper Model laid out by Liberty Star Board Director Dr. John Guilbert [in The Geology of Ore Deposits]. Of course drilling will be ultimately required to determine the character and grade of the covered mineralization giving rise to anomalous metal values at the surface.”

Tags: , , , , ,
Category: Energy Stocks
no comments
You can leave a response, or trackback from your own site.

Leave a Reply

Your email address will not be published. Required fields are marked *


About Penny Stocks

The term "penny stocks," also known as micro-cap equities, micro caps, small caps, pink sheets, refers to shares in a company that trades for less than $5.00. Most penny stocks trade on the OTCBB market and the pink sheet electronic quotation service. Penny Stocks can be very volatile and can see gains as much as 500% in a day. Volatility in penny stocks is also dangerous because penny stocks can come down as quickly as they go up. If you trade penny stocks based on stock picks, make sure to always do your due diligence on the companies you're considering, use stop loss orders, and book your profits when you are in a position to do so.