{"id":30105,"date":"2024-09-17T09:53:20","date_gmt":"2024-09-17T13:53:20","guid":{"rendered":"https:\/\/capital10x.com\/old\/?p=30105"},"modified":"2024-09-17T22:26:07","modified_gmt":"2024-09-18T02:26:07","slug":"libero-copper-mobilizes-for-exploration-at-the-mocoa-porphyry-copper-molybdenum-deposit","status":"publish","type":"post","link":"https:\/\/capital10x.com\/old\/libero-copper-mobilizes-for-exploration-at-the-mocoa-porphyry-copper-molybdenum-deposit\/","title":{"rendered":"Libero Copper Mobilizes for Exploration at the Mocoa Porphyry Copper-Molybdenum Deposit"},"content":{"rendered":"
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Upcoming drilling to follow up on MD-043 that intersected 1,228.5 metres averaging CuEq* of 0.58%, including 840.3 metres of 0.72% CuEq*<\/b><\/p>\n
Libero Copper<\/span>\u00a0& Gold Corporation\u00a0<\/b>(TSXV: LBC) (OTCQB: LBCMF) <\/strong>announced\u00a0mobilization to support exploration activities at its flagship Mocoa Porphyry Copper-Molybdenum Deposit, located in\u00a0Colombia’s<\/span>\u00a0Jurassic Copper Belt, near the town of Mocoa, Putumayo. This phase of mobilization marks the final preparatory steps ahead of a 14,000-metre drill program designed to expand the resource and test new high-priority porphyry targets across the region.<\/p>\n
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Highlights<\/h2>\n
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Upcoming 14,000-Metre drill program<\/b>:<\/b>\u00a0the team is in the final stages of planning a 14,000-metre drill program for Q4-2024 through H1-2025 focused on infill, resources expansion, and testing of new targets.<\/p>\n<\/li>\n
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Resource expansion and follow<\/b>-up of drill hole MD-043:\u00a0<\/b>upcoming drilling will focus on follow-up of i) the high-grade core of MD-043 that intercepted\u00a0250.8m<\/span>\u00a0at 1.12% copper equivalent (CuEq*) [0.74% copper (Cu) and 0.114% molybdenum (Mo) and ii) a 2 kilometre by 800-1,000 metre copper-molybdenum soil anomaly surrounding the resource area.<\/p>\n<\/li>\n
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Field program work:<\/b>\u00a0Fieldwork will focus on prioritizing and preparing for drill tests on nine additional porphyry targets identified in the area, supported by geophysical data and geochemistry of rock samples\u00a0(see news release\u00a0May 03, 2022<\/span>).<\/p>\n<\/li>\n<\/ul>\n
We’re at an exciting milestone at the Mocoa Porphyry Copper-Molybdenum Deposit, built on a foundation of extensive geological work and strong relationships. We are preparing to follow up on the impressive copper intersections from MD-043. Detailed fieldwork has only reinforced what we believed all along: Mocoa Deposit holds immense potential. But this moment is about more than just geology\u2014it’s about the foundation we’ve built through close collaboration with local communities, key partnerships and government. I’m particularly proud of the commitment shown by our team and local stakeholders. Together, we are unlocking the full potential of Mocoa Deposit for the benefit of Mocoa, Putumayo, and\u00a0Colombia.Ian Harris, President & CEO, Libero Copper & Gold Corporation<\/span><\/div><\/div>\n
Mobilization Activities<\/b><\/p>\n
Significant preparatory activities are currently underway, including the hiring of key personnel (see photo 1), ensuring the camp is fully equipped and operational, maintenance and testing of the first drill rig already on site, securing rain water supply, and reopening vital access routes to the exploration camp and drill sites. These routes provide crucial access for personnel and supplies, minimizing operational costs by eliminating the need for helicopter support.<\/p>\nPhoto #1 – Key personnel hired at Mocoa (CNW Group\/Libero Copper & Gold Corporation)<\/figcaption><\/figure>\n
Mobilization and preparations are expected to be completed in the coming weeks.<\/p>\n
Additionally, construction of a new walking bridge, providing vital access to Montclar, has begun. This project was developed in collaboration with the Montclar community under a mutual benefits agreement signed in\u00a0November 2022<\/span>\u00a0(see news release\u00a0Nov 29, 2022<\/span>). While the bridge’s completion is not required for the start of exploration activities, it will improve efficiency and safety for the project while delivering long-term infrastructure improvements for the Montclar community.<\/p>\n
Drillhole MD-043<\/b><\/p>\n
The next phase of exploration at the Mocoa Porphyry Copper-Molybdenum Deposit will focus on following up the significant results from drill hole MD-043, which intercepted 1,228.5 metres averaging CuEq* of 0.58%, including 840.3 metres of 0.72% CuEq*\u00a0(see new release\u00a0April 26, 2022<\/span>).\u00a0This drill hole demonstrated the expansion potential of the Mocoa Deposit and provided key insights into the high-grade core of the resource, including 250.78 metres at 1.12% CuEq* (0.74% Cu and 0.114% Mo) (see Table 1 and Figure 1). These results have served as a foundation for planning the upcoming 14,000-metre drill program to be executed Q4-2024 through H1-2025.<\/p>\n
Table 1 \u2013 Released results from drill hole MD-043.<\/i><\/p>\n
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*Libero Copper defines copper equivalent calculation for reporting purposes only. Copper-equivalence calculated as: \nCuEq (%) = Cu (%) + 3.33 \u00d7 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<\/p>\nFigure 1 \u2013 Cross section of drill hole MD-043 highlighting key released intervals (CNW Group\/Libero Copper & Gold Corporation)<\/figcaption><\/figure>\n
This program will build on extensive fieldwork already completed, including a 2-kilometre by 800-1,000-metre multi-element soil geochemical anomaly identified south of the resource area\u00a0(see news release\u00a0November 15, 2022<\/span>).\u00a0Geophysical (detailed airborne magnetic and radiometric survey data) and geochemical surveys on soils and rocks have helped define multiple new porphyry targets. Nine high-priority porphyry targets were identified potentially part of a clustered system, extending up to 6 kilometres from the known Mocoa Deposit area. This data, combined with the 3D radial symmetric isosurface intrusions, indicates a significant expansion potential beyond the original resource area\u00a0(see news release\u00a0May 03, 2022<\/span>).<\/p>\n
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National Mining Congress Recognition<\/b><\/p>\n
At the 2024 National Mining Congress in Cartagena,\u00a0Libero Copper<\/span>\u00a0was recognized in the\u00a0Br\u00fajula Minera<\/i>\u00a0rankings (see figure #2), an influential annual study on mining sector reputation in\u00a0Colombia<\/span>. Conducted by the\u00a0Centro Nacional de Consultor\u00eda<\/i>, in collaboration with\u00a0Jaime Arteaga<\/span>\u00a0& Asociados<\/i>,\u00a0Revista Mundo Minero<\/i>, and in alliance with the\u00a0Asociaci\u00f3n Colombiana de Miner\u00eda<\/i>\u00a0(ACM),\u00a0Asociaci\u00f3n Nacional de Empresarios de\u00a0Colombia<\/span><\/i>\u00a0(ANDI), and the\u00a0Ministerio de Minas y Energ\u00eda (Ministry of Mines and Energy)<\/i>,\u00a0Br\u00fajula Minera<\/i>\u00a0evaluates how mining companies engage with communities, demonstrate environmental responsibility, and establish trust.<\/p>\n
Libero Copper<\/span>\u00a0received the following rankings:<\/p>\n
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Reputation in Mining Municipalities: Ranked 12th, the highest-ranking exploration company on the list.<\/p>\n<\/li>\n
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Reputation with Government Authorities: Ranked 13th, the second-highest exploration company after AngloGold Ashanti.<\/p>\n<\/li>\n<\/ul>\nFigure 2 \u2013 2024 National Mining Congress (CNW Group\/Libero Copper & Gold Corporation)<\/figcaption><\/figure>\nFigure 3 \u2013 The results of the 10th Annual Br\u00fajula Minera (CNW Group\/Libero Copper & Gold Corporation)<\/figcaption><\/figure>\n
This recognition not only validates\u00a0Libero Copper’s efforts to build lasting relationships with local communities and government authorities but also underscores the solid foundation necessary for advancing a project of Mocoa Porphyry Copper-Molybdenum Deposit’s importance. The company’s strong reputation has been a crucial factor in preparing to move the project forward, ensuring alignment with all stakeholders and a commitment to responsible development.<\/p>\n
Qualified Person<\/i><\/b><\/p>\n
Edwin Naranjo Sierra<\/span>, Exploration Manager of\u00a0Libero Copper<\/span>, is the designated Qualified Person within the meaning of National Instrument 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 Geology.<\/p>\n
About the Mocoa Porphyry Copper-Molybdenum Deposit<\/i><\/b><\/p>\n
The Mocoa Deposit is located in the department of Putumayo, 10 kilometres from the town of Mocoa.\u00a0Libero Copper’s<\/span>\u00a0district scale holdings cover over 1,000 km2<\/sup>\u00a0through titles and applications, encompassing most of the Jurassic porphyry belt in southern\u00a0Colombia<\/span>. 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 cumulating in a positive pre-feasibility study (the pre-feasibility study is historical in nature only and should not be relied upon\u00a0as it is not NI 43-101 compliant).<\/b>\u00a0 B2Gold subsequently executed diamond drill programs in 2008 and 2012.\u00a0Libero Copper<\/span>\u00a0drilled Mocoa in 2022 and intercepted 840 metres of 0.72% copper equivalent\u00a0(see new release\u00a0April 26, 2022<\/span>).<\/p>\n
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