Libero Copper & Gold Corp. (Ticker: LBC.v or LBCMF for US investors) holds a key asset in its portfolio—the Mocoa copper-molybdenum porphyry deposit, situated in the resource-rich region of Putumayo, Colombia.
Historical Exploration and Resource Estimates
The Mocoa deposit was first identified in the 1970s, leading to a series of exploration activities. These efforts culminated in a positive, albeit non-compliant, pre-feasibility study. Recent exploration by Libero Copper & Gold has revealed significant mineralization, including an impressive 840 meters of 0.72% copper equivalent (CuEq), emphasizing the deposit’s potential.
Current Resource Estimate:
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Inferred resource: 636 million tonnes at 0.45% CuEq
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Contains: 4.6 billion pounds of Copper, 511 million pounds of Molybdenum
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Copper grade: 0.33%
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Molybdenum grade: 0.036%
Government Support and Strategic Development
The local government in Mocoa has demonstrated strong support for the project through the introduction of a Territorial Development Plan. This plan prioritizes sustainable development in the region, with a particular focus on the mining and energy sectors. Key elements of the plan include:
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Emphasis on strategic metals, particularly copper, in the Ticuanayoy basin, where the Mocoa deposit is located.
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Repeal of previous regulations that may have obstructed mining activities.
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Promotion of community wellbeing and sustainable resource development.
Strategic Partnerships and Future Prospects
The recent approval of the Mocoa Development Plan underscores the local government’s commitment to advancing mineral resource projects. It also supports the implementation of prior agreements, such as the November 2022 Cooperation Framework Agreement between Libero Copper & Gold and the Montclar community. This alignment of government, community, and corporate interests positions the Mocoa project for significant contributions to Colombia’s economy and the global transition to renewable energy.
Libero Copper & Gold’s dedication to responsible exploration and the strong backing from both local communities and political leaders pave the way for the sustainable development of one of Colombia’s most promising mineral resources.
More: https://www.liberocopper.com/_resources/news/nr-20240614.pdf
Posted on behalf of Libero Copper & Gold Corp.