Liberty Silver Corp. is focused on exploring and developing mineral properties located in North America. The Company is led by a highly skilled, experienced management team and board of directors with decades of success managing exploration, development and mining projects. The Company is committed to creating value for its shareholders by advancing its current projects to production, developing new on its current properties, and by acquiring new properties that have potential to increase their resource base.
The Trinity Silver Project is located in Pershing County, Nevada approximately 23 miles northwest of Lovelock. Lovelock, the county seat of Pershing County, is located on US Interstate 80 approximately 85 miles easterly from Reno. Lovelock's economy is based on agriculture, mining, and the State prison. The Burlington Northern Santa Fe railroad transverses Nevada through Lovelock.
Silver mineralization was discovered at outcrop in the Trinity range by U.S. Borax in 1981 and subsequently explored under a joint venture between U.S. Borax and Santa Fe Pacific Gold from 1982 to 1986 leading to the development of the Trinity silver mine.
The Trinity silver mine was operated by U.S. Borax from 1987 to 1989 and produced approximately five million ounces of silver from approximately 1.1 million tons of oxidized ore grading six ounces silver per ton. Silver was recovered by heap leaching.
Mining ceased when sulfide mineralization was encountered leaving sulfide mineralization exposed in the bottom of the pit. Drilling and extensive metallurgical testing was done on the sulfide mineralization by U.S. Borax. Although the recovery of silver and associated lead and zinc was good, metal prices were too low to support mining the sulfide resource. The sulfide resource was incompletely tested by drilling leaving the mineralization open.
The property was further explored by Santa Fe Pacific Gold between 1990 and 1992. In 2005 AuEx Ventures, (AuEx), leased the property from Newmont Mining Corp., which had acquired the Santa Fe Pacific Gold, (SFPG), holdings in Nevada. AuEx explored the property with a joint venture partner until 2007. There has been only limited drilling by AuEx since that time. Project Overview
The property consists of 59 located mining claims and 5,000 acres of fee land, about 5,800 acres in total. Most of the known silver resource is on fee land.
According to a study completed by U.S. Borax , there are 10 million tons of sulfide ore identified with a grade of 3 ounces per ton silver. While we have no reason to doubt the validity of this estimate it must be realized that it is a historic estimate and it is not NI 43-101 compliant. This estimate is not NI 43-101 or JORC compliant and does not include the associated lead and zinc mineralization which adds considerably to the value of the deposit. A new NI 43-101 resource estimate, including the lead and zinc values will be made as a first priority. The new resource model will also identify where additional drilling is required to properly define the extent of the mineralization.
Permitting, additional metallurgical testing, and engineering design work will be started immediately.
Due to the extensive high quality work by the U.S. Borax-SFPG joint venture and the excellent reclamation work that was completed, thus mitigating environmental legacy issues, the old open pit mine can be re-opened and brought into production in a short time-frame. Management currently estimates this to take between 24-36 months.
There is additional potential to develop a high grade mine on the vein mineralization that underlies the potential open pit. Drill hole intercepts of up to 60 ounces per ton over 10 ft. widths were encountered in the previous drilling but not further investigated.