Libero Copper Confirms No Overlap Between Mocoa Project and Regional Forest Reserve
Libero Copper & Gold Corporation (LBC, LBCMF, DE: 29H) has achieved a crucial milestone in the development of its Mocoa Project, its flagship project in Colombia. Working closely with Colombian authorities, the company has successfully addressed a previous concern regarding the project’s potential overlap with a regional forest reserve.
This development arises from the implementation of a Consejo de Estado Resolution from August 2022, which aimed to harmonize environmental and mining records. As a result, the official mining cadastral system, ANNA Minería, has updated its records pertaining to the Mocoa Project area. The update clarifies that the regional forest reserve, established in 1984, does not overlap with the Mocoa Project’s mineral resource area.
The forest reserve was originally intended to protect and compensate for the construction of a hydroelectric plant that was never built. However, ambiguous coordinates during its establishment led to inaccuracies in the official records, suggesting an overlap with the Mocoa Project. This update resolves this discrepancy, providing greater certainty for the project’s development.
“This update is a significant step forward in our collaboration with Colombian authorities to responsibly develop the Mocoa Project. The clarified boundaries allow us to plan with greater certainty, demonstrating the effectiveness of our cooperative approach in aligning mining and environmental regulations,” commented Ian Harris, President & CEO of Libero Copper. “We look forward to completing the next steps and are more confident than ever in the immense potential of the Mocoa Project and remain committed to advancing it responsibly for the benefit of all stakeholders.”
This achievement marks a collaborative success between Libero Copper, the Agencia Nacional de Minería (ANM), the Ministry of Mines and Energy, and the Ministry of Environment. The clarified boundaries reduce uncertainty and allow Libero Copper to proceed with increased confidence and efficiency in its exploration and development plans. This also allows the company to finalize its updated Programa Único de Exploración y Explotación (PUEE), a comprehensive exploration and exploitation plan, ensuring a robust and responsible strategy that aligns with regulatory best practices and Colombia’s sustainable development goals.
The Mocoa deposit itself is a significant copper-molybdenum porphyry deposit located in the department of Putumayo, Colombia. Libero Copper’s holdings in the area cover over 1,000 km2, encompassing a large portion of the Jurassic porphyry belt in southern Colombia. The deposit was discovered in 1973 and has undergone extensive exploration since then, with notable results including a 1,228.5-meter intercept of 0.58% CuEq* (copper equivalent) containing 0.42% Cu and 0.047% Mo, announced in April 2022.
With this latest development, Libero Copper reinforces its commitment to responsible mining practices and sustainable development. The company is well-positioned to advance the Mocoa Project, leveraging its experience and commitment to contributing to the growing global demand for copper.
