The Mocoa Deposit: Resource Estimates, Local Support & More The Mocoa copper-molybdenum porphyry deposit in Putumayo, Colombia, a significant asset within Libero Copper & Gold's (Ticker: LBC.v or LBCMF for US investors) portfolio, is located in a region rich with geological potential.
The Mocoa deposit was initially discovered in the 1970s with subsequent exploration activities culminating in a positive non-compliant pre-feasibility study. In recent years, LBC has reported significant findings from the deposit including 840 meters of 0.72% copper equivalent (CuEq), highlighting the substantial mineralization present at the site.
The project's most recent resource estimate, a pit-constrained inferred resource, estimates that the project has 636 million tonnes 0.45% CuEq (0.33% Copper & 0.036% Molybdenum) totalling 4.6 billion pounds of Copper and 511 million pounds of Molybdenum.
Supporting LBC's future development prospects at the project, the local government of Mocoa recently released a Territorial Development Plan for the municipality which focuses on promoting the wellbeing and sustainable development, with a significant emphasis on the mining and energy sectors.
The plan highlights the potential of strategic metals in Mocoa and repeals any previous regulations that could hinder its implementation, providing a clearer legal framework for advancing strategic metals projects. It also prioritizes copper production in the Ticuanayoy basin, where LBC's Mocoa deposit is located.
The approval of the plan reflects strong political and community support for the strategic development of the region's mineral resources, and facilitates the implementation of previous agreements, such as the November 2022 Cooperation Framework Agreement between LBC and the Montclar community.
LBC's commitment to advancing the Mocoa project, coupled with strong community and political support, positions the company well to contribute to Colombia’s economic development and the global shift towards renewable energy.
The approval of the Mocoa Development Plan marks a significant milestone in this journey, paving the way for responsible and sustainable exploration and development of one of Colombia’s most promising mineral resources.
Full news here: https://www.liberocopper.com/_resources/news/nr-20240614.pdf
Posted on behalf of Libero Copper & Gold Corp.