Marking a significant milestone being 50% larger than any previous drilling on the site, Libero Copper (LBC.v LBMF) currently has a 14,000-meter drill program underway at the Mocoa Project, highlighting the project's scale and demonstrating the company’s commitment to developing the asset comprehensively, as detailed in this recent video: https://www.youtube.com/watch?v=NZTL5N4R0fs
With an established compliant resource at Mocoa of 4.6 billion pounds of copper and 511 million pounds of molybdenum, the current exploration program includes infill, step-out, and regional drilling designed to expand the resource, enhance geological understanding, and test new target areas.
Key Factors Behind the Progress
The project's advancement is attributed to three main elements which have provided essential resources, values-based operations, and strategic support to realize the project’s potential:
- Dedication of Libero’s on-ground team
- Strong collaboration with local partners
- Sponsorship by Frank Giustra as part of the Fiore Group.
Drilling Goals and Targets
- The program combines infill drilling (to increase drill density in existing resources) and step-out drilling (to expand the known resource area).
- Significant Resource Expansion Potential with 14,000 Metres of Drilling: Increases the total historical drilling at Mocoa by nearly 50%
- Exploration of New Target Areas: Eight new targets identified based on extensive mapping, soil sampling, and geophysics, aiming to explore the full potential of this large-scale porphyry system.
- Strategic Growth Based on Comprehensive Analysis: Designed to address key questions around Mocoa's potential, while expanding the resource's scale.
Regional and Geological Context
- Located in a prolific Jurassic porphyry belt extending from Peru through Colombia,
- Project benefits from a setting known for cluster-style deposits.
- Current resource already includes over 600 million tons with 4 billion pounds of contained copper,
- Deposit remains open in all directions, indicating potential for significant expansion.
Community and Environmental Engagement
- Project places a strong emphasis on community involvement, such as collaboratively building the Mona bridge and maximizing local employment in both labor and professional roles.
- Approach fosters a sense of ownership and alignment with local stakeholders, enhancing the project’s social impact.
LBC's stands out due to a combination of a high-quality asset, an experienced team with a history of advancing large copper projects, and support from Frank Giustra and the Fiore Group, thus this integrated approach positions Libero at the start of a path toward significant value creation for the Mocoa Project.
Full News Release: https://www.theglobeandmail.com/investing/markets/markets-news/TheNewswire.com/29553977/video-enhanced-infill-step-out-regional-drilling-libero-copper-begins-resource-expansion-campaign-in-colombia/
Posted on Behalf of Libero Copper and Gold Corp.