Libero Copper Advances 14,000-METRE Program with MD-045 to Explore Western Potential at the Mocoa Porphyry Copper- Molibdenum Deposit, Putumayo - Colombia
LIBERO COPPER ADVANCES 14,000-METRE PROGRAM WITH MD-045 TO
EXPLORE WESTERN POTENTIAL AT THE MOCOA PORPHYRY COPPER-
MOLIBDENUM DEPOSIT, PUTUMAYO - COLOMBIA
VANCOUVER, BC
,
Jan. 13, 2025
/CNW/ -
Libero Copper
& Gold Corporation (
TSXV: LBC) (OTCQB: LBCMF) (FRA: 29H) ("
Libero Copper
" or the
"
Company
"
)
is pleased to announce the start of hole MD-045, the second hole of its 14,000-metre resource expansion drilling program designed to strategically
connect and expand high-grade zones at the Mocoa porphyry copper-molybdenum deposit in Putumayo,
Colombia
.
Highlights
Strategic Focus
: MD-045 is designed to evaluate the structural controls of the western-trending brecciation (Phase 3), which has shown potential for
significant mineralization at Mocoa. This hole is to test extension further south and continuation at depth.
Western Expansion Unlocked
: The clarification of the forestry reserve boundary has reprioritized western expansion potential, increasing its probability and
strategic significance within the 14,000-metre drill program.
Foundation for Growth
: Both MD-044 and MD-045 provide critical insights into structural controls, forming the foundation to de-risk and optimize Mocoa's
aggressive resource expansion strategy.
Progress Update
: MD-045 has reached 250 metres of its planned 1,200-metre target depth.
"MD-044 provided the critical insights we needed to de-risk our resource expansion strategy, and we're confident MD-045 will further solidify Mocoa's potential as
a world-class copper-molybdenum deposit," stated
Ian Harris
, President & CEO of
Libero Copper
. "The recent clarification of the forestry reserve boundary
provides opportunities to explore the western area, where promising mineralization controls have been identified. By focusing on structural understanding and
resource optimization, we're not just advancing Mocoa—we're laying the groundwork for long-term success. This deposit continues to exceed our expectations
with its near-surface, high-grade copper-molybdenum mineralization extending to significant depths, and we're just beginning to uncover its true potential."
Hole MD-045
The drilling campaign continues to advance with the start of MD-045, the second hole of the 14,000-metre resource expansion drilling program at the Mocoa
porphyry deposit. As at
January 13, 2025
, the hole has reached a depth of 250 metres towards its target depth. MD-045 is designed with a target depth of
1,200m
, oriented with 258 degrees in azimuth and a dip of -60 degrees.
Table 1. Collar and design information of drill hole MD-045 at Mocoa. Coordinates are UTM system, zone 18N and WGS84 projection.
Hole
Easting
Northing
Elevation
Target
depth
Azimuth
Dip
MD-045
313831
137655
1673
1,200m
258
-60
MD-045 is strategically designed to test the continuity of the western-trending brecciation stage three, one of the most productive mineralization phases identified
at Mocoa to date. While MD-043 previously intersected this zone, it exited the phase toward the end of the hole. MD-045 aims to refine understanding of this
critical phase by testing its extension further south and at depth, where the potential feeder zone may reside.
The potential for resource expansion to the west of the known mineral resource at Mocoa has been significantly de-risked following the clarification of the Forestry
Reserve boundary by Colombian authorities (refer to the news release dated
November 12, 2024
). This clarification has unlocked new opportunities for expansion
and elevated the western extension's importance within the overall drilling program.
Brecciation stage three, which controls the western high-grade core zone, is directly associated with the highest copper and molybdenum grades observed at
Mocoa. It is characterized by potassic (K-feldspar) altered hydrothermal breccia, with quartz, chalcopyrite, and molybdenite as matrix infill, along with multiple
fragments of early quartz diorite and dacite porphyries. 3D modeling of this hydrothermal breccia indicates a mineralized NNW-trending corridor measuring
approximately 1,500 metres in length, 225 metres in width, and 1,000 metres in depth.
Figure 1. Plan view of the MD-045 hole and the location of the historical drilling at the Mocoa project. (CNW Group/Libero Copper & Gold Corporation)
Qualified Person and Technical Notes
Edwin Naranjo Sierra
, Exploration Manager of
Libero Copper
, is the designated Qualified Person within the meaning of National Instrument 43-101 and has
reviewed and verified the technical information in this news release. Mr. Naranjo holds a MSc. in Earth Sciences, and is a Fellow of the Australasian Institute of
Mining and Metallurgy (FAusIMM) and the Society of Economic Geologist.
Mineralized zones at Mocoa are bulk porphyry-style zones and drilled widths are interpreted to be very close to true widths.
Libero Copper
operates according to a rigorous Quality Assurance and Quality Control (QA/QC) protocol consistent with industry best practices. Core diameter is
a mix of HQ and NQ depending on the depth of the drill hole. Diamond drill core boxes were photographed, sawed, sampled and tagged in maximum 2-metre
intervals, stopping in geological boundaries. Samples were bagged, tagged and packaged for shipment by truck from
Libero Copper's
core logging facilities in
Mocoa,
Colombia
to the Actlabs certified sample preparation facility in
Medellin, Colombia
. ActLabs is an accredited laboratory independent of the company.
Samples are processed in the
Medellin
facilities where they are analyzed for copper and molybdenum by 4-Acid digest Atomic Absorption (AA) analysis. The
sample pulps are air freighted from
Medellin
to the ActLabs certified laboratory in
Guadalajara, Mexico
, where they are analyzed for a suite of 57 elements using
4-Acid digest and ICP-MS. In order to monitor the ongoing quality of assay data and the database,
Libero Copper
has implemented QA/QC protocols which
include standard sampling methodologies, the insertion of certified copper and molybdenum standard materials, blanks, duplicates (field, preparation and analysis)
randomly inserted into the sampling sequence. QA/QC program also include the ongoing monitoring of data entry, QA/QC reporting and data validation. No
material QA/QC issues have been identified with respect to sample collection, security and assaying.
About the Mocoa Porphyry Copper-Molybdenum Deposit
The Mocoa deposit is located in the department of Putumayo, 10 kilometres from the town of Mocoa.
Libero Copper's
district scale holdings cover over 1,000
km2 through titles and applications, encompassing most of the Jurassic porphyry belt in southern
Colombia
. Mocoa was discovered in 1973 when the United
Nations and the Colombian government conducted a regional stream sediment geochemical survey. Between 1978 and 1983, an exploration program was carried
out that consisted of geological mapping, surface sampling, ground geophysics (IP, magnetics), 31 diamond drill holes totaling 18,321 metres and metallurgical
test work B2Gold subsequently executed diamond drill programs in 2008 and 2012.
The Mocoa deposit appears to be open in both directions along strike and at depth. Current work on the property has identified additional porphyry targets
including the possible expansion of known mineralization. The Mocoa deposit is situated in the Central Cordillera of
Colombia
, a 30-kilometre-wide tectonic belt
underlain by volcano-sedimentary, sedimentary and intrusive rocks that range in age from Triassic-Jurassic to Quaternary and by remnants of Paleozoic
metasediments and metamorphic rocks of Precambrian age. This belt hosts several other porphyry-copper deposits in
Ecuador
, such as Mirador,
San Carlos
,
Panantza and Solaris' Warintza. Copper-molybdenum mineralization is associated with dacite porphyry intrusions of the Middle Jurassic age that are emplaced
into andesitic and dacitic volcanics. The Mocoa porphyry system exhibits a classical zonal pattern of hydrothermal alteration and mineralization, with a deeper
central core of potassic alteration overlain by sericitization and surrounded by propylitization. Mineralization consists of disseminated chalcopyrite, molybdenite and
local bornite and chalcocite associated with multiphase veins, stockwork and hydrothermal breccias. The Mocoa deposit is roughly cylindrical, with a 600-metre
diameter. High-grade copper-molybdenum mineralization continues to depths in excess of 1,000 metres.
1
For further information refer to National Instrument 43-101 – Standards of Disclosure for Mineral Projects Technical Report, entitled "
Technical Report on the Mocoa Copper-Molybdenum Project,
Colombia
", dated
January 17, 2022
, prepared by Michael Rowland Brepsant, FAusIMM,
Robert Sim
, P.Geo, and
.
About
Libero Copper
Libero Copper
is led by a team with rare experience—having advanced projects from post-resource discovery to the path of construction, including some of the
few large copper projects built in the last 20 years. This real-world expertise drives
Libero Copper's
focus on relationships, responsibility, trust, and a relentless
commitment to sustainable progress.
At the core of
Libero Copper's
portfolio is the Mocoa copper-molybdenum porphyry deposit in Putumayo,
Colombia
. Mocoa stands as a cornerstone asset with
immense potential for expansion.
Now, with the Fiore Group's bold company-building vision behind it,
Libero Copper
is uniquely positioned to fill a crucial gap in the copper industry—advancing
large-scale projects toward construction. Through this approach,
Libero Copper
is committed to creating lasting value for all stakeholders while positioning itself at
the forefront of meeting the growing global demand for copper—the metal driving progress in the modern economy
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact,
including statements regarding anticipated drilling and expected results, the resulting other activities and achievements of the Company, including but are not
limited to: the potential for the Mocoa Project resource estimate to expand in size, the belief that all necessary permits are currently in place for the initial phase
of the Mocoa Project, and the timing and success for the advancement of the Mocoa Project, are to be considered forward looking. Although
Libero Copper
believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future
performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ
materially from those in forward-looking statements include market prices and volatility with the Company's common shares, exploitation and exploration
successes, uncertainty of reserve and resource estimates, risks of not achieving production, continued availability of capital and financing, processes, permits
and filing requirements, risks related to operations in foreign and developing countries and compliance with foreign laws and including risks related to changes
in foreign laws and changing policies related to mining and local ownership requirements in
Colombia
, and general economic, market, political or business
conditions and regulatory and administrative approvals. There can be no assurances that such statements will prove accurate and, therefore, readers are
advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.
SOURCE
Libero Copper
& Gold Corporation
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For further information:
Additional Information: Ian Harris, Chief Executive Officer, +1 604 294 9039, [email protected]; Tetiana Konstantynivska, Vice
President Investor Relations, +1 778 829 8455, [email protected]
CO: Libero Copper & Gold Corporation
CNW 07:45e 13-JAN-25