Liberty Star Receives Funding for Hay Mountain ZTEM
07 June 2013 - 3:07AM
Business Wire
Liberty Star Uranium & Metals Corp. (“Liberty Star” or the
“Company”) (LBSR: OTCQB) is pleased to announce that it has
completed a non-brokered private placement with a private US
accredited investor for proceeds totaling USD $50,000. There was no
brokerage commission paid.
The Company will use the funds for payment toward the current
ZTEM survey program over Liberty Star’s Hay Mountain property. With
this funding, the ZTEM program announced in NR 152 will be paid in
full. Geophysical electromagnetic and magnetic data collected by
the ZTEM survey will be processed and interpreted by Geotech Ltd.
in collaboration with Liberty Star within about two weeks after the
overflight of the Hay Mountain property and its environs. Porphyry
coppers, other mineral bodies and geologic features have
distinctive characteristics which can be detected and interpreted
by ZTEM technology which allows modeling or “seeing” conductive or
resistive features from a few hundred feet (100 meters) to depths
as much as 6,000 feet (2,000 meters).
Current Hay Mountain ZTEM survey
update:
Geotech has sent word that the survey aircraft has left the
Toronto area today and is expected to arrive in Sierra Vista,
Ariz., about Saturday, June 8th. There will be about three days
setup of ground geophysical recorders and base camp computers. When
that is complete the ZTEM overflight should begin, barring
unfavorable operational or weather issues.
“James A. Briscoe” James A. Briscoe, Professional Geologist, AZ
CACEO/Chief GeologistLiberty Star Uranium & Metals Corp.
Forward-Looking Statements
Statements in this news release that are not historical are
forward-looking statements. Forward-looking statements in this news
release include our exploration plans, that ZTEM will be flown over
the entire Hay Mountain anomaly area; that ZTEM will be processed
by Geotech within two weeks. Factors which may delay or prevent
these forward-looking statements from being realized include: we
may not be able to raise sufficient funds to complete our intended
exploration, keep our properties or carry on operations; there may
be cost overruns; misinterpretation of data is possible; and we may
be unable to continue exploration due to permitting requirements,
weather, logistical problems, labor or equipment problems or
hazards even if funds are available. Despite encouraging data there
may be no commercially exploitable mineralization on our
properties. Readers should refer to the risk disclosures in the
Company’s recent 10-K and the Company’s other periodic reports
filed from time to time with the Securities and Exchange
Commission.
Liberty Star Uranium & Metals Corp.Tracy Myers,
520-425-1433Investor Relationsinfo@LibertyStarUranium.comFollow
Liberty Star Uranium & Metals Corp. on Facebook & Twitter
@LibertyStarLBSR
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