LBC: Exploring the Mocoa Copper-Molybdenum Porphyry Deposit Libero Copper & Gold (LBC.v, LBCMF), a mineral exploration company dedicated to unlocking the value of the Mocoa copper-molybdenum porphyry deposit in Putumayo, Colombia, is poised to benefit from a four-year development plan recently introduced by the local government.
The Mocoa deposit, discovered in 1973 through a partnership between the United Nations and the Colombian government, is located just 10 kilometers from the town of Mocoa. Covering over 1,000 km² of the Jurassic porphyry belt in southern Colombia, this deposit is central to Libero Copper’s exploration activities.
The Mocoa deposit is one of Colombia's most significant copper and molybdenum resources, highlighted by recent exploration that uncovered 840 meters of 0.72% copper equivalent (CuEq). The current resource estimate for Mocoa outlines a pit-constrained inferred resource of 636 million tonnes grading 0.45% CuEq, which translates to 4.6 billion pounds of copper and 511 million pounds of molybdenum.
Key aspects of the Mocoa project include:
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Long Exploration History: Since its discovery in the 1970s, Mocoa has undergone extensive exploration, including historical drilling programs by B2Gold and more recent work by Libero Copper, which has revealed additional porphyry targets and potential extensions of known mineralization.
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Governmental Development Plan: The local government in Mocoa has introduced a Territorial Development Plan focused on sustainable growth, with a significant emphasis on the mining and energy sectors. This plan is designed to promote the strategic metals found in the region, particularly in the Ticuanayoy basin, where the Mocoa deposit is situated. The plan also repeals earlier regulations that may have impeded mining activities, thereby creating a more favorable legal framework for advancing projects like Mocoa.
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Geological Importance: The Mocoa deposit lies within the Eastern Cordillera of Colombia, a tectonic belt known for hosting several other porphyry-copper deposits in the region. The deposit’s classical zonal pattern of hydrothermal alteration and mineralization, combined with its considerable depth, underscores its geological significance.
The introduction of the Mocoa Development Plan marks a significant opportunity for Libero Copper & Gold, as it facilitates the responsible and sustainable exploration of this crucial deposit. With strong support from both the government and the local community, Libero Copper is well-positioned to contribute to the region's economic development and the global shift towards renewable energy, as it continues to explore and develop the Mocoa project.
More: https://www.liberocopper.com/_resources/news/nr-20240614.pdf
Posted on behalf of Libero Copper & Gold Corp.