Ni, Co, Cu, PGM, Au Properties in Ontario Canada
Producing Mines and "state-of-the-art" Mill
Message: Operations Update
| Filing Services Canada | |
| FSC / Press Release Liberty Provides Operations Update Edmonton, Alberta CANADA, October 29, 2009 /FSC/ - Liberty Mines Inc. (LBE - TSX), ("Liberty or the Company") is pleased to announce that it shipped 831.97 tonnes of concentrate from the Redstone nickel concentrator ("Mill") to the Xstrata Nickel smelter in Sudbury, Ontario, during the period October 6 to October 26, 2009. The Mill operated with half staff for most of the month, and a third crew was in training during the week previous to October 26. A fourth crew is currently being trained to bring the mill up to full operating staff by mid November. A new atomic absorption spectrometer was recently installed in the laboratory at the Mill and a new weigh scale for heavy trucks is being installed at the concentrate load-out building. From September 25 to the end of October 26, 8448 tonnes of mineralization from the Redstone mine were delivered to the Mill for processing. To date, the nickel in concentrate grades of the shipments are averaging 15.4% -17.1%. Grades and payable pounds of nickel, copper and cobalt will be reported for the fourth quarter shipments of concentrate when all details have been finalized with Xstrata. Ramp and raise development at the nearby McWatters nickel mine are progressing well. Development to the mineralized zone on the 85m level has been completed. Approximately 50m of ramp development is required to reach the 140 meter level. Subsequently, the ramp to the 155m level and the ventilation raise connecting the 140m level to the 65m level are scheduled to be completed by the end of November, Overburden stripping of the open pit is anticipated to commence in January 2010 upon receipt of the amended Closure Plan and an amended Permit to Take Water, A soil geotechnical study is in progress to confirm the overburden design slope. As a result, the feasibility study scheduled for release this month will be delayed pending completion of the geotechnical study, which is expected to be complete in November. Permitting for the Hart nickel project continued to progress. The perimeter survey of the mining claims which constitutes the application for the Hart mining lease was completed and submitted to the mining recorders office for review. Once the lease is registered and a Closure Plan is approved for the project, construction of the mine can begin. The target date for construction of the portal is tentatively set for the second quarter of 2010, subject to the receipt of the filed Closure Plan. An amendment of the Certificate of Approval for Industrial Sewage Works for the McWatters water treatment facility to incorporate the Hart mine is in progress. About Liberty Mines Inc. Liberty Mines Inc. is a producer of nickel and is focused on the exploration, development and production of nickel, copper, cobalt and platinum group metals from its properties in Ontario, Canada. It owns and operates the Redstone nickel concentrator near Timmins Ontario. CAUTIONARY STATEMENT No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward looking statements". All statements other than statements of historical fact included in this release, without limitation, statements regarding future plans and objectives of Liberty, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Liberty's expectations are: exploration risks; commodity prices; regulatory approvals; receipt of mining permits and leases; and assumed startup and operating costs detailed herein and from time to time in the filings made by Liberty with securities regulators. For further information please contact: Dr. Gary Nash, PhD (Physics), President & CEO Phone (416) 238-9736 Fax 780-437-7898 e-mail: gnash@libertymines.com Press Release 15-09 Source: Liberty Mines Inc. (TSX: LBE) http:// www.libertymines.com Maximum News Dissemination by Filing Services Canada Inc. * www.usetdas.com |
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