Liberty Silver Corp. successfully completes first phase of 2012 drilling program
Tuesday, Jul 10, 2012
Liberty Silver Corp. (TSX:LSL)(OTCBB:LBSV) ("Liberty Silver" or the "Company") is pleased to announce results of the first phase of its 2012 drilling program in the Trinity silver mining district in Pershing County, Nevada. Drilling was directed to the exploration of selected areas adjacent to the resource zone identified in the Company's 2011 NI 43-1012 technical report (the "Resource Area"), as well as confirmation of that resource.
Eighteen vertical drill holes were completed to depths of up to 1,500 feet in rhyolite and underlying metasedimentry host rocks by reverse circulation for a total of (20,030) feet. Drilling tested parts of five (5) geographic domains in the vicinity of the southern end the Trinity open pit mine and the 43-101 Resource Area. Sixteen holes intercepted sample intervals greater than 1 opt silver ("Ag") with grades as high as 15 opt Ag. Sulfide zone samples contain up to 1.7 % lead ("Pb") and 1.6 % zinc ("Zn"). A map of the location of the drill holes can be found on the Company's website at: www.libertysilvercorp.com.
In addition to 18 holes drilled during phase 1 of the 2012 drilling program, approximately 395 holes were drilled during the period from 1982-2007, mainly by US Borax. While approximately 50 of these holes are widely spaced throughout the approximate 13 square-mile area of interest, the large majority are located within an approximate one square mile area centered on the Trinity open pit silver mine. Based on historical(1) and current assays, all holes contain anomalous silver throughout. The non-43-101-compliant average grade for all 413 holes is 0.70 opt Ag.
The three holes drilled in Domain 1, penetrated to depths of 1,040 to 1,120 ft and contain weakly anomalous Ag throughout. Very thin horizons of Ag at 1.2 to 5.1 opt Ag are found spatially associated with speculated fault zones at 635 to 700 ft depths.
Domain 2 (Holes A12-1, -2, -3 and -6) is located immediately southwest of the south end of the Trinity pit. Holes A12-1 and A12-6 host no oxide Ag above 0.5 opt but do contain sulfide Ag averaging 0.90 opt and 0.95 opt Ag, respectively with grades improving at depth. A12-2 contains 1.0 opt oxide Ag at a depth of 80 to 90 ft while A12-3 contains 0.77 opt oxide Ag from 105-115 ft deep.
Domain 3 includes holes A12-4 and A12-5, which were drilled to confirm grade within the Resource Area, in the area south of the south end of the Trinity open pit mine. Hole A12-4 exhibits up to 4.3 opt Ag and averages 0.39 opt Ag from surface to 1,275 ft depth, 0.65 opt Ag from surface to 675 ft depth in rhyolite terrain, and 0.77 opt Ag from surface to 120 ft depth in the oxide zone including 1.2 opt Ag at 30-95 ft depth.
Hole A12-5 exhibits up to 2.9 opt Ag and averages 0.23 opt Ag from surface to 1,500 ft depth, 0.49 opt Ag from surface to 490 ft depth in rhyolite terrain, 0.91 opt Ag from surface to 95 ft depth in the oxide zone including 1.2 opt Ag at 30-95 ft depth.