Libero Copper & Gold Corporation (LBC, LBCMF, DE: 29H) is thrilled to announce the mobilization of its exploration team at the flagship Mocoa Porphyry Copper-Molybdenum Deposit, located in Colombia’s Jurassic Copper Belt. This marks the final preparatory step before embarking on an ambitious 14,000-meter drill program designed to expand the existing resource and explore new high-priority porphyry targets in the region.
A 14,000-Meter Drill Program for Growth
The company is in the final stages of planning a comprehensive drill program, scheduled to commence in Q4-2024 and continue through H1-2025. This program is focused on three key objectives:
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Infill drilling:
To further refine the understanding of the existing resource.*
Resource Expansion:
To expand the known resource based on promising geological indicators.*
Testing New Targets:
To investigate nine additional porphyry targets identified through extensive geophysical and geochemical surveys, potentially extending the Mocoa Deposit’s footprint significantly.Building on Impressive Results
The upcoming drilling program is fueled by the remarkable results from drill hole MD-043, which intercepted 1,228.5 meters averaging 0.58% CuEq* (copper equivalent), including a particularly impressive 840.3 meters of 0.72% CuEq* (see previous news release dated April 26, 2022). This drill hole highlighted the potential for high-grade copper mineralization within the Mocoa Deposit, revealing a 250.78-meter interval grading 1.12% CuEq* (0.74% Cu and 0.114% Mo). These results have provided a strong foundation for the upcoming exploration program, which will focus on further investigating these high-grade zones and exploring new targets in the surrounding area.
Community Engagement and Sustainability
Libero Copper is committed to responsible development and has consistently prioritized community engagement. This includes ongoing collaborations with local communities, key partnerships, and government authorities. The company has established a strong reputation for its commitment to environmental responsibility and transparency, earning recognition in the 2024 National Mining Congress Brújula Minera rankings, a leading indicator of mining sector reputation in Colombia.
The Mocoa Deposit’s Potential
The Mocoa Deposit stands as a significant copper-molybdenum resource, with a pit-constrained inferred resource of 636 million tonnes grading 0.45% copper equivalent (0.33% Cu and 0.036% Mo), containing a substantial 4.6 billion pounds of copper and 511 million pounds of molybdenum. This deposit shows potential for further expansion, with ongoing exploration revealing promising porphyry targets beyond the current resource area.
A Commitment to Progress
Libero Copper is led by a team with extensive experience in advancing mining projects, including some of the largest copper projects constructed in recent decades. This expertise fuels the company’s commitment to sustainable progress, responsible development, and building lasting value for all stakeholders. With its robust portfolio centered around the Mocoa Deposit, Libero Copper is poised to become a leading player in the global copper market, meeting the growing demand for this crucial metal while maintaining a commitment to responsible and sustainable practices.
About Libero Copper
Libero Copper is a company focused on advancing large-scale copper projects, driven by a team with extensive experience in the mining industry. The company’s flagship asset is the Mocoa copper-molybdenum porphyry deposit, located in Putumayo, Colombia, a project with significant potential for growth and expansion. Libero Copper is dedicated to creating lasting value for all stakeholders while contributing to the global supply of copper, a vital metal for the modern economy.
