LBC Advances Resource Expansion at Mocoa Libero Copper & Gold Advances Resource Expansion at Mocoa Porphyry Copper-Molybdenum Deposit
Today, Libero Copper's CEO (LBC.v LBMF) announced a significant milestone having commenced a major resource expansion program at its flagship Mocoa Poprhyry Copper-Molybdenum Deposit in Colombia's Jurassic Copper Belt.
This phase, starting with drill hole MD-044, is part of a broader plan to expand and enhance the high-grade copper-molybdenum deposit which currently contains an inferred mineral resource of 6.2 billion pounds of copper and 441 million pounds of molybdenum.
Key Highlights
- Commencement of Resource Expansion Activities: Hole MD-044 is targeting a 1,200-meter depth, designed to test the extension at depth of the high-grade copper molybdenum zone, which is interpreted to plunge northeastward.
- Upcoming Resource Expansion Program: This hole is the beginning of a 14,000-meter resource expansion program aimed at in-fill drilling, resource extension, and testing new areas.
- Infrastructure and Community Involvement: The Montclar Bridge construction is on track and is expected to be completed by the end of November 2024, enhancing local connectivity under a Cooperation Framework Agreement with the Montclar community.
- Mobilization Activities Successfully Concluded: Including the hiring of key personnel, fully equipping camp, maintaining and testing the first drill rig, securing rainwater supply, and reopening access routes.
- Environmental Compliance: Detailed permit review completed ensuring ongoing compliance without the need for additional permits.
Strategic Importance of Resource Expansion Program
The resource expansion program is focused on high-grade zones within the Mocoa deposit, targeting increasing the potential of these zones. Extensive reviews of previous drill holes and updates to geological models have led to a comprehensive plan for both step-out and in-fill activities to improve the understanding of copper and molybdenum distribution.
This drilling campaign is a crucial step in unlocking the full potential of the Mocoa deposit. The collaboration between LBC and local stakeholders demonstrates a commitment to responsible resource development, with significant attention to environmental and community concerns.
Full News Release: https://ca.finance.yahoo.com/news/libero-copper-advances-expansion-mocoa-113000147.html
Posted on Behalf of Libero Copper and Gold Corp.