New 14,000m Exploration Program Update Today: Libero Copper (LBC.v LBMF) Details Ongoing 14,000m Exploration Program at 6.2B Pound Copper Project
Today, Libero Copper (LBC.v LBMF) provided details of its ongoing 14,000m exploration program at its Mocoa Porphyry Copper-Molybdenum Deposit in Colombia's prolific Jurassic Copper Belt, which currently boasts an inferred mineral resource of 6.2 billion pounds of copper and 441 million pounds of molybdenum.
Key Highlights
- Significant Resource Expansion Potential: This program increases the total historical drilling at Mocoa by nearly 50%. Targeted zones aim to expand high-grade copper and molybdenum areas, designed at enhancing the understanding of the overall resource potential.
- Exploration of New Target Areas: Targeting initial soil anomalies that indicate promising mineralization. Extensive groundwork is underway to refine these areas for potential discoveries.
- Strategic Growth Based on Comprehensive Analysis: Builds on two years of extensive groundwork and is designed to address key questions around Mocoa's potential, reflecting a systematic approach to understanding and expanding the resource's scale.
14,000-Metre Exploration Program
- Objective: Expand resource, improve geological understanding, and test new target zones.
- Key Focus Areas: Infill, regional and step-out drilling to refine copper (Cu) and molybdenum (Mo) distribution + new target zones including Silencio, Neblina, and Piedralisa.
Strategic Growth and Targeted Drilling
- Resource Expansion: Nearly 50% more drilling than previously done at Mocoa, targeting high-grade cores and expanding the mineralization footprint.
- Newly Identified Areas - Silencio, Neblina, and Piedralisa: Soil anomalies and geophysical surveys indicate high mineralization potential.
- Environmental Practices: Use of existing drill pads to reduce environmental impact and rainwater collection system to secure water supply for drilling.
Detailed Surface Exploration
- Neblina Zone: Located north-northeast of the main Mocoa deposit, with notable Cu-Mo potential.
- Piedralisa Zone: Priority target with significant Zn-Pb±Cu anomaly and elevated Cu-Mo values in rock samples.
- Silencio Zone: Identified for potential copper mineralization; soil grid planned to expand known Cu anomaly.
Drill Program Details
- Initial Drilling: Hole MD-044 has reached 615 metres, targeting a depth of 1,200 metres to test high-grade mineralization northeast of the deposit.
- Mineralization Insights:
- Copper: Found in quartz veinlets with chalcopyrite, chalcocite, and minor bornite.
- Molybdenum: Present as molybdenite in B-type veinlets.
Ian Harris, President & CEO of LBC, commented:
"This program, adding 50% more drilling than all previous work at Mocoa, is a major step forward for the project. This achievement reflects the dedication of our team working hand-in-hand with local partners and the backing of Frank Giustra's Fiore Group. Together, we're advancing Mocoa at the scale and with the care it deserves."
Notably, this systematic approach and adherence to environmental practices underscores LBC's commitment to expanding Mocoa as a premier copper asset, positioning it as a strong contender in the race to alleviate the incoming supply deficit,
Full News Release: https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2126-tsx-venture/lbc/169952-libero-copper-announces-details-of-ongoing-14-000-metre-exploration-program-at-the-mocoa-porphyry-copper-molybdenum-deposit.html
Posted on Behalf of Libero Copper and Gold Corp.