LBC Closes $3 Million Offering to Advance Resource Expansion Yesterday, Libero Copper & Gold Corporation (Ticker: LBC.v or LBCMF for US investors) announced the successful closing of its $3 million public offering. The funds will support ongoing exploration at its flagship Mocoa copper-molybdenum project in southern Colombia, located within the prolific Jurassic Copper Belt.
Backed by the Fiore Group and its founder Billionaire Mining Investor Frank Giustra, LBC and its recent financing underscore the project's potential.
Situated 10km north of the town of Mocoa in Putumayo, Colombia, LBC's Mocoa copper-molybdenum porphyry deposit spans 7,850 hectares and hosts an inferred resource of 636 million tonnes grading 0.45% CuEq, containing 4.6 billion pounds of copper and 511 million pounds of molybdenum.
The deposit remains open along strike and at depth, and recent geological studies have highlighted substantial resource expansion opportunities.
Libero Copper is advancing a 14,000m drill program at the project aimed at resource expansion and new target identification. Key elements include:
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Infill and Step-Out Drilling: Refining the distribution of high-grade copper and molybdenum within the deposit and extending mineralization to the north and northeast.
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New Targets: Exploration of nearby zones, such as Piedralisa, Neblina, and Silencio, which have shown promising soil anomalies and geophysical signatures.
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Sustainable Practices: The use of existing drill pads and an innovative rainwater collection system to minimize environmental impact.
CEO Ian Harris emphasized the project’s strategic significance and investor backing, stating, “This program, adding 50% more drilling than all previous work at Mocoa, is a major step forward. With Frank Giustra’s support and a dedicated team, we’re advancing Mocoa at the scale and care it deserves.”
Libero Copper, supported by the Fiore Group’s bold vision, is advancing Mocoa as a cornerstone asset in meeting rising global copper demand. The company’s experienced leadership is committed to sustainable development and stakeholder engagement, ensuring Mocoa’s progression from resource expansion to future development aligns with environmental and social priorities.
Full news here: https://www.liberocopper.com/_resources/news/nr-20241212.pdf
Posted on behalf of Libero Copper & Gold Corp.