Liberty Mineral Exploration (LBE-V) is working on a resource estimate following infill-drilling on cobaltite veins at its McAra Lake property , 100 km north of Sudbury and 22 km southeast of Shining Tree, Ont.
Cobalt grades as high as 11.74% , along with 0.9% nickel and 22.4 grams silver were intersected over a 0.3-metre interval that is included in a 4.5-metre intercept that graded 3.3% cobalt, 0.3% nickel and 10.3 grams silver per tonne.
Another hole intersected a 3-metre zone that graded 11.9% copper 23 metres below a 1-metre interval that graded 10.26% cobalt, 0.8% nickel and 40.2 grams silver per tonne (this was included in a 2.5-metre intercept that graded 4.8% cobalt, 0.4% copper, 0.3% nickel and 22 grams silver per tonne).
Holes were drilled at about 25-metre centres and 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 is in the form of chalcopyrite and is found within cherty interflow sediments that are intercalated with mafic volcanic rocks.
Six holes failed to intersect mineralization. It is speculated that faulting may have shifted the zone in that area; a 0.5-metre zone was intersected further west that graded 5.7% cobalt and 0.26% copper.
Liberty acquired the McAra Lake property and the Redstone Nickel mine area in December. The McAra property (four claims, 5-sq.-km) is under option from EDS Cobalt and is subject to a net smelter royalty agreement. The Redstone property is currently under option to Inco (N-T).
Liberty is also working on a resource estimate for its McWatters nickel property 25 km south of Timmins. The property hosts a historic resource and drilling by Liberty (7,818 metres) has resulted in significant nickel over wide zones (0.77% nickel over 103 metres).
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