Liberty Silver Corp. announces Trinity project stratigraphic drilling to verify geophysical anomalies
Wednesday, Nov 21, 2012Liberty Silver Corp. (TSX:LSL) ("Liberty Silver" or the "Company") announced today the results of drilling of two stratigraphic holes, A12-19 and A12-20, to verify interpretations and test one of several geophysical anomalies developed as a result of a coupled gravity survey and induced polarization program completed earlier in 2012. The two reverse circulation holes, which were completed as part of the Company's preparation for future exploration drilling, totaled 2,580 feet in depth and are situated approximately 0.45 miles southeast of the historic Trinity open pit silver mine.
Gravity and induced polarization (IP) surveys were conducted by Magee Geophysical Services and Zonge Geosciences, Inc. both of Reno, Nevada. The geophysical program was designed and interpreted by Jim Wright of J.L. Wright Geophysics, Spring Creek, Nevada, and all historic and geophysical data has been assembled into a GIS data base. Interpretation of the data base by Mr. Wright identified several unexplored locales defined by high resistivity, chargeability, and gravity anomalies.
One such anomaly, a gravity low, is located southeast of the historic Trinity mine pit. This low is believed to be the response to a thick section of the hydrothermally altered rhyolite filling a graben structure similar to that of the Trinity silver mine resource area defined by the 2011 Trinity NI 43-101 report (available on SEDAR or on the Company website). Hydrothermally altered rhyolite hosts the bulk of the known silver mineralization discovered in the district to date.
The two drill holes, A12-19 (1,260 feet total depth) and A12-20 (1,320 feet total depth) are sited approximately 0.40 to 0.45 miles southeast of the pit, respectively, outside the documented resource area. Three shallow conventional rotary holes drilled in the 1980s by U.S. Borax & Chemical Corp. (the previous operator) are sited within a 500 foot radius to the west and south of the new holes. These historic holes host reportedly intersected weak silver mineralization from near surface to approximately 100 feet deep.
The two new holes were logged in detail and assayed on 5-foot intervals for the entire length of the holes. The holes confirm the gravity low does represent a deep graben structure filled with rhyolite because neither hole penetrated the contact with the underlying metasedimentary basement rocks. Based upon these two drill holes, the thickness of the prospective rhyolite section appears to be significantly thicker in this proposed graben structure relative to the resource area. Both holes are comprised of aphanitic rhyolite and a few rhyolite dikes. Hydrothermal alteration consists of weak to moderate argillic and sericitic clay alteration; weak and localized silicification and quartz veinlet development; and 1%-3% pyrite below the oxidation level at 560 feet.