Liberty cuts cobalt

Liberty Mineral Exploration (LBE-V) is calculating the resource at the McAra Lake cobalt deposit in northeastern Ontario, following infill drilling on cobaltite veins.

The property is 100 km north of Sudbury and 22 km southeast of Shining Tree.

Cobalt grades as high as 11.74%, along with 0.9% nickel and 22.4 grams silver per tonne, were intersected over 0.3 metre; that interval was included in a 4.5-metre intercept of 3.3% cobalt, 0.3% nickel and 10.3 grams silver. Another hole cut 3 metres of 11.9% copper; that intersection occurred 23 metres below a 1-metre interval of 10.26% cobalt, 0.8% nickel and 40.2 grams silver, which, in turn, was included in a 2.5-metre intercept of 4.8% cobalt, 0.4% copper, 0.3% nickel and 22 grams silver.

Holes drilled at 25-metre centres have defined two parallel veins that dip vertically along 135 metres of a northeast-striking fault system. The mineralized zone comprises massive veins, breccia zones and fracture fillings with an average width of about 2 metres.

Copper in the form of chalcopyrite is found in cherty interflow sediments intercalated with mafic volcanic rocks.

Six holes failed to intersect mineralization, though faulting may have shifted the zone in that area. Farther west, drill crews intersected a 0.5-metre zone grading 5.7% cobalt and 0.26% copper.

Liberty acquired the 5-sq.-km McAra Lake property and the Redstone Nickel mine area in late 2004. McAra is under option from EDS Cobalt and subject to a net smelter royalty agreement. Redstone is under option to Inco (N-T).

Liberty is also estimating a resource at its McWatters nickel property, 25 km south of Timmins, where drilling has turned up 0.77% nickel over 103 metres.