Libero Copper & Gold Corporation (TSXV: LBC) (OTCQB: LBCMF) announced a significant advancement in the development of its flagship Mocoa Project.
Following dedicated efforts and close collaboration with Colombian authorities to implement the Consejo de Estado Resolution dated August 4, 2022 (clarified on September 29, 2022, Filing No. 25000234100020130245901)—which mandates the alignment of environmental and mining records—the official mining cadastral system, ANNA Minería, has updated its records concerning the Mocoa Project area.
History
The regional forest reserve was originally established on November 21, 1984, intended to protect and compensate for the planned construction of an 11-megawatt hydroelectric plant that was never built. Due to ambiguous coordinates at the time of its creation, the reserve’s boundaries were inaccurately reflected in official records, leading to an unintended overlap with the Mocoa Project’s mineral resource area. This pivotal update addresses a previous note in the National Instrument 43-101 (“NI 43-101”) Technical Report titled “Technical Report on the Mocoa Copper-Molybdenum Project, Colombia“, dated January 17, 2022, prepared by Michael Rowland Brepsant, FAusIMM, Robert Sim, P. Geo, and Bruce Davis, FAusIMM, with an effective date of November 1, 2021.
The updated cadastral records now clarify that the regional forest reserve no longer overlaps with the Mocoa Project’s existing mineral resource area.
Figure 1. Updated Boundary of the Regional Forestry Reserve
This update marks an important milestone in the ongoing collaboration among the Agencia Nacional de Minería (ANM), the Ministry of Mines and Energy, and the Ministry of Environment, as they work to align environmental data with mining title information and implement the full scope of the Consejo de Estado decision.
This achievement reduces uncertainty by clarifying boundaries, enabling the Company to proceed with enhanced confidence and efficiency.
The collective efforts have set the stage for further advancements that will support the Mocoa Project’s compliance with Colombia’s mining regulations.
Ultimately, this collaborative success will allow Libero Copper to finalize its updated Programa Único de Exploración y Explotación (PUEE), ensuring a robust and responsible exploration strategy that aligns with regulatory best practices and Colombia’s sustainable development goals.
Qualified Person and Technical Notes
Edwin Naranjo Sierra, Exploration Manager of Libero Copper, is the designated Qualified Person within the meaning of NI 43-101 and has reviewed and verified the technical information in this news release. Mr. Naranjo holds a MSc. In Earth Sciences, and is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM) and the Society of Economic Geologist.
Copper equivalent (CuEq) for drill hole interceptions is calculated as: CuEq (%) = Cu (%) + 3.33 × Mo (%), utilizing metal prices of Cu – US$3.00/lb, Mo – US$10.00/lb. Metal recoveries utilized for the resource model are 90% for Cu and 75% for Mo.
Mineralized zones at Mocoa are bulk porphyry-style zones and drilled widths are interpreted to be very close to true widths.
Libero Copper operates according to a rigorous Quality Assurance and Quality Control (QA/QC) protocol consistent with industry best practices. Primary sample collection involves secure transport from Libero Copper’s core logging facilities in Mocoa, Colombia to the ActLabs certified sample preparation facility in Medellin, Colombia. Samples are processed in the Medellin facilities where they are analyzed for copper and molybdenum by 4-Acid digest AA analysis. The sample pulps are air freighted from Medellin to the ActLabs certified laboratory in Guadalajara, Mexico, where they are analyzed using 4-Acid digest ICP multi element analysis. In order to monitor the ongoing quality of assay data and the database, Libero Copper has implemented QA/QC protocols which include standard sampling methodologies, the insertion of certified standard materials, blanks and field duplicates and ongoing monitoring of data entry, QA/QC reporting and data validation. No material QA/QC issues have been identified with respect to sample collection, security and assaying.
About the Mocoa Porphyry Copper-Molybdenum Deposit
The Mocoa deposit is located in the department of Putumayo, 10 kilometres from the town of Mocoa. Libero Copper’s district scale holdings cover over 1,000 km2 through titles and applications, encompassing most of the Jurassic porphyry belt in southern Colombia. Mocoa was discovered in 1973 when the United Nations and the Colombian government conducted a regional stream sediment geochemical survey. Between 1978 and 1983, an exploration program was carried out that consisted of geological mapping, surface sampling, ground geophysics (IP, magnetics), 31 diamond drill holes totaling 18,321 metres and metallurgical test work B2Gold subsequently executed diamond drill programs in 2008 and 2012. Libero Copper drilled Mocoa in 2022 and intercepted notable results of 0.58% CuEq* (0.42% Cu and 0.047% Mo) over 1,228.5 metres, including a higher-grade interval of 840.3 metres at 0.72% CuEq* (0.52% Cu and 0.062% Mo) (see news release April 26, 2022).
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Libero Copper is a market awareness client of Capital 10X. For more information, including potential conflicts of interest please see our Content Disclaimer.
