Liberty Star Uranium & Metals Corp. (OTCMKTS:LBSR) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
Item 2.03. Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant.
On October 10, 2019, the Company’s CEO purchased a new portable elemental analyzer for the Company at a cost of approximately $40,000. The Company will record this amount as an advance payable and plans to reimburse the CEO in full when adequate funds become available.
Item 8.01 Other Events.
Liberty Star hires Geotech Ltd. to update Hay Mountain Project ZTEM data.
On September 30, 2019 Liberty Star Minerals announced it engaged Geotech Ltd. of Aurora, Ontario, Canada to advance the original ZTEM and magnetic dataset it gathered at Liberty Star’s Hay Mountain Project in the airborne geophysical survey performed in July 2013. Geotech Ltd. will update the dataset to the 3D Inversion level of analysis, both 3D ZTEM inversion, and 3D MVI (magnetic vector inversion).
This more sophisticated analysis and interpretation, which Geotech has been developing and improving since the 2013 survey, substantially enhances the utility of the geophysical dataset already collected at the Hay Mountain Project (the: “Project”). This new study will produce dramatically improved imagery of the indicated geophysical already apparent at the Project, elevates Liberty Star’s understanding of the information to current technological standards, and sets the stage for clearer and more compelling communication of the data to prospective operating partners. Comments CEO Brett Gross, “Combining classic mineral exploration with state-of-the-art technology, remains the Company’s guiding philosophy. We expect delivery of a new XRF device for on-site geochemical analysis in November from ThermoFisher Scientific and we are fortunate to have a partnership with geophysics technology leader Geotech Ltd. The 2013 airborne survey remains an important Liberty Star asset thanks to the continuing advancement of Geotech’s leading-edge ZTEM technology”.
Liberty Star completes annual assessment work at Hay Mountain North (“HMN”).
On September 30, 2019, Liberty Star Minerals announced they are nearing completion of required Arizona State Land Department (ASLD) assessment work on HMN Mineral Exploration Permit (MEP) lands by the October 4, 2019 deadline for the HMN block. Liberty Star acquired the HMN block in October 2018. This block of MEP lands, adjacent to, and contiguous with, the Company’s original Hay Mountain Project (the “Project”), added approximately 6 square miles nearly doubling the size of unpatented mineral holdings at the Project.
Field Manager Jay Crawford used a ThermoFisher Scientific Niton XL3t GOLDD+ x-ray fluorescence (XRF) handheld device to conduct geochemical surface studies over the area and has extended the biogeochemical study area to include HMN, fulfilling ASLD annual assessment requirements. Jay reports the equipment worked efficiently and produced high quality data and he looks forward to the November delivery of a brand new, and more sophisticated, Niton XL5 XRF device.
“This type of assessment work does much more than simply satisfy ASLD MEP retention requirements. It significantly increases our understanding of the potential mineral content of these lands,” said Mr. Gross, President and CEO of the Company, “We are very optimistic that this work will produce the types of confirming correspondence with the existing geophysical (ZTEM) already apparent in the HMN block that the same work has done at the original Hay Mountain Project site next door. We believe this data will dramatically expand the compelling geophysical and geochemical indicators of potential mineralization present throughout the Project and is further evidence of a porphyry cluster related to the larger Tombstone caldera.”
Liberty Star organizes operational components for Earp Ridge Mines LLC.
On September 30, 2019 Liberty Star Minerals announced the formation of Earp Ridges Mines LLC (“Earp Ridge”) on April 11, 2019. The Company has now completed assembly of the internal corporate infrastructure, e.g. bank accounts, tax registration, accounting systems, etc., to fully support Earp Ridge’s operational functionality.
States CEO Brett Gross, “This represents a substantial step forward in the Company’s ability to facilitate engagement of an operating partner at the Hay Mountain Project. While the copper price is working against explorers for the moment, we all know that will not stand in the long run. When that situation changes, we are ready and open for business.”
Item 9.01. Financial Statements and Exhibits.
The exhibits listed in the following Exhibit Index are furnished as part of this Current Report on Form 8-K.
| 99.1 | Liberty Star completes annual assessment work at Hay Mountain North (“HMN”) |
| 99.2 | Liberty Star hires Geotech Ltd. to update Hay Mountain Project ZTEM data |
| 99.3 | Liberty Star organizes operational components for Earp Ridge Mines LLC |
LIBERTY STAR URANIUM & METALS CORP. Exhibit
EX-99.1 2 ex99-1.htm Liberty Star completes annual assessment work at Hay Mountain North (“HMN”) FOR IMMEDIATE RELEASE TUCSON,…
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About Liberty Star Uranium & Metals Corp. (OTCMKTS:LBSR)
Liberty Star Uranium & Metals Corp. is an exploration-stage company engaged in the acquisition and exploration of mineral properties in the States of Arizona and Alaska. The Company’s subsidiary, Big Chunk Corp., is engaged in the acquisition and exploration of mineral properties business in the State of Alaska. The Company’s subsidiary, Hay Mountain Super Project LLC (HMSP), serves as the primary holding company for development of the potential ore bodies encompassed in the Hay Mountain area of interest in Arizona. The Company has not generated any revenues. The Company’s projects include North Pipes Super Project (North Pipes and NPSP), Big Chunk Super Project (Big Chunk), Tombstone Super Project (Tombstone) and East Silver Bell Porphyry Copper Project (East Silver Bell). The NPSP is located in Northern Arizona on the Arizona Strip. The Tombstone is located in Cochise County, Arizona. East Silver Bell Porphyry Copper Project is located northwest of Tucson, Arizona.
