Yesterday, Libero Copper & Gold Corp. (Ticker: LBC.v or LBCMF for US investors) announced a major step forward in developing its flagship Mocoa Project in Putumayo, Colombia.
The Mocoa Project, discovered in 1973 and covering over 1,000 km² in the Jurassic porphyry belt, holds significant potential, as seen in past drilling results, including 0.58% CuEq over 1,228.5 metres.
The deposit remains open along strike and at depth, with additional porphyry targets identified.
Earlier this month, LBC shared details of its ambitious 14,000-metre exploration program at the Mocoa Project. This extensive effort aims to expand the resource through infill and step-out drilling while enhancing geological understanding and testing new target areas.
Notable prospects include Silencio, Neblina, and Piedralisa, identified through recent soil anomaly data and geophysical surveys. This program represents a nearly 50% increase in historical drilling at Mocoa and builds on two years of groundwork involving re-logging, geological modeling, and comprehensive geochemical and geophysical analysis.
Yesterday's announcement highlights how authorities in Colombia have updated their records and confirmed that the Mocoa Project’s mineral resource area no longer overlaps with the regional forest reserve established in 1984.
This reserve was originally intended for a hydroelectric plant project that never materialized, but due to ambiguous initial coordinates, it overlapped with the Mocoa mineral area.
Ian Harris, President & CEO of Libero Copper, highlighted this as a crucial achievement, enabling more confident and efficient planning and reinforcing the company’s commitment to responsible development.
The change allows Libero Copper to proceed with the updated Programa nico de Exploracin y Explotacin (PUEE), supporting compliance with Colombia's mining regulations and sustainable development objectives.
Full news: https://www.liberocopper.com/_resources/news/nr-20241112.pdf
Posted on behalf of Libero Copper & Gold Corp.