Liberty Silver announces updated resource estimate identifying increase in silver resource estimate at Trinity Project, Nevada
Tuesday, Jan 08, 2013Liberty Silver Corp. (TSX:LSL) (the "Company") is pleased to announce that its updated National Instrument 43-101 compliant resource estimate (the "2012 NI 43-101 Compliant Resource Estimate") identifies a significant increase in the inferred silver resource estimate at its Trinity Silver Project ("Trinity"). In the 2012 NI 43-101 Compliant Resource Estimate the inferred oxide silver resource estimate increased 131%, to 7.3 million ounces, and the inferred sulfide silver-equivalent resource estimate increased 132%, to 28.8 million ounces, when compared to the resource estimate reported by the National Instrument 43-101 technical report dated December 1, 2011 (the "2011 NI 43-101") filed on www.sedar.com. The total inferred silver equivalent resource currently stands at 36.1 million ounces.
These increases are primarily attributable to the recent acquisition of the Primus lands (the "Hi Ho Silver Property") that lies immediately adjacent to the east of the Company's existing land holdings and the increase in silver prices that occurred between the 2011 NI 43-101 Technical Report and this update. Mineralization on the Hi Ho Silver Property had been identified by historic drilling but could not be reported by the Company until the acquisition was completed. Acquisition of the Hi Ho Silver Property was reported in Company press releases dated August 8, 2012 and October 16, 2012.
The Trinity Silver Project is located 25 miles north of Lovelock, Nevada, in the Trinity mining district, Pershing County, Nevada. The 2012 NI 43-101 Compliant Resource Estimate was prepared on behalf of the Company by SRK Consulting (U.S) Inc. ("SRK"), Reno, Nevada. The new mineral resource is reported in Tables 1a and 1b below for oxide and sulfide silver, respectively.