Libero Copper Drilling ON BIG Red Expands Mineralizing Footprint at Terry Target and Intersects 119 M of 0.29% CuEq Within 399 Metres of Mineralization
LIBERO COPPER DRILLING ON BIG RED
EXPANDS MINERALIZING FOOTPRINT AT
TERRY TARGET AND INTERSECTS 119 M OF
0.29% CUEQ WITHIN 399 METRES OF
MINERALIZATION
VANCOUVER, BC
,
Jan. 27, 2022
/CNW/ -
Libero Copper & Gold Corporation
(TSXV: LBC)
(OTCQB: LBCMF) (DE: 29H) is pleased to announce outstanding assay results for the first diamond
drill program into the Terry porphyry copper discovery at the Big Red project in BC's Golden
Triangle. Drilling has confirmed the presence of a large mineralizing system – with nine of the ten
holes drilled returned anomalous copper mineralization, over an area exceeding 2.1 kilometres of
strike and >500 metres of depth.
2021 Big Red Exploration Highlights
First diamond drill program on the Terry Target, 4,571 metres drilled in 10 holes.
Nine of the ten drill holes contains anomalous copper mineralization, including multiple
intervals of elevated copper ± silver ± gold.
New drill highlights
119.5 metres of 0.29% CuEq** (0.25% Cu, 2.26 g/t Ag, 0.02 g/t Au)
8.5 metres of 0.95% CuEq** (0.84% Cu, 5.69 g/t Ag, 0.07 g/t Au)
486.4 metres of 0.17% CuEq** (0.14% Cu, 0.96 g/t Ag, 0.03 g/t Au) from surface,
including 112 metres of 0.23% CuEq** (0.19% Cu, 1.25 g/t Ag, 0.04 g/t Au)
Completed 46 km
2
airborne magnetic survey and a 1.2 km
2
3D IP grid over the Terry
Target
"Following on the discovery of copper porphyry mineralization at Terry in 2020, our 2021 exploration
program was designed to test the extent of the mineralizing system and develop vectors that we
could use to target high-grade portions of the system. The combination of soil sampling, IP and
magnetic geophysical surveys, geological mapping, and 4,500 metres of drilling have created a
comprehensive data set that we will continue to advance the project with," comments
Ian Harris
,
President & CEO. "The rarity of new copper porphyry discoveries in
British Columbia
underscores
the importance of advancing of this target. We are encouraged by both the size of the system and
the presence of higher-grade zones within wide intervals of mineralization. So far the mineralization
we've intercepted has occurred in dyke swarms, but with the new robust data sets we've amassed
this season, we intend to vector towards the porphyry centre and higher grade mineralization."
The utilization of diamond drilling in 2021 on the Terry Target allowed for more detailed investigation
into the relationships between lithology, mineralization and alteration compared to the RC drilling in
2020. Work has begun to compile and analyze these data to develop geochemical and alteration
vectors that can be used to target the source of the dyke swarms (potential porphyry centre) or
areas of higher-grade mineralization. The existence of distinct chalcopyrite-rich intrusive phases (2
metres of >1.3% Cu) within the dyke swarms indicates the potential of a high-grade zone of
mineralization.
Drill Hole
From (m)
To (m)
Interval (m)
Cu (%)
Ag (g/t)
Au (g/t)
CuEq**(%)
BR-21-028*
8.30
510.00 (EOH)
501.70
0.18
1.23
0.04
0.22
including
8.30
127.00
118.70
0.26
1.83
0.06
0.33
and including
78.20
96.81
18.61
0.42
3.03
0.14
0.56
including
278.50
306.50
28.00
0.33
1.47
0.04
0.38
including
478.00
510.00 (EOH)
32.00
0.30
1.76
0.06
0.36
BR-21-029
7.34
480.60 (EOH)
473.26
0.10
0.68
0.02
0.12
including
7.34
76.00
68.66
0.24
1.72
0.03
0.28
BR-21-030
6.18
378.60 (EOH)
372.42
0.07
0.76
0.01
0.09
including
6.18
53.50
47.32
0.15
1.65
0.01
0.17
BR-21-031
abandoned hole
BR-21-032
41.70
438.00 (EOH)
396.30
0.04
0.40
0.04
0.07
including
41.70
85.33
43.63
0.15
0.98
0.02
0.18
BR-21-033
9.00
495.40 (EOH)
486.40
0.14
0.96
0.03
0.17
including
9.00
79.15
70.15
0.15
1.35
0.05
0.20
and
230.10
342.15
112.05
0.19
1.25
0.04
0.23
and
401.40
495.40 (EOH)
94.00
0.16
1.02
0.03
0.19
and including
440.00
495.40 (EOH)
55.40
0.17
1.45
0.04
0.22
BR-21-034
6.00
571.60 (EOH)
565.60
0.10
0.73
0.02
0.12
including
6.00
41.00
35.00
0.17
1.71
0.03
0.21
177.00
181.50
4.50
0.64
4.40
0.05
0.72
BR-21-035
10.50
399.30 (EOH)
388.80
0.15
0.58
0.01
0.16
including
49.00
83.50
34.50
0.19
1.39
0.02
0.22
and
152.50
399.30 (EOH)
147.00
0.23
0.74
0.02
0.25
and including
180.00
299.50
119.50
0.25
2.26
0.02
0.29
and including
201.00
216.00
15.00
0.43
1.90
0.04
0.48
and including
279.00
287.50
8.50
0.84
5.69
0.07
0.95
BR-21-036
no significant results
BR-21-037
83.60
509.60 (EOH)
426.00
0.09
0.16
0.04
0.12
including
236.00
273.50
37.50
0.17
0.54
0.08
0.24
BR-21-038
16.08
391.80 (EOH)
375.72
0.06
0.11
0.02
0.08
Table 1:
Select intervals from drill holes BR-021-028 to -038 located at the Terry and adjacent
Scorcher target.
*Previously released results (
October 26, 2021
). **The prices used to calculate CuEq are: Cu:
$3.50
/lb, Au:
$1,850
/oz, Ag:
$25
/oz. All values are reported in USD and do not consider metal
recoveries due to insufficient metallurgical data.
The Terry porphyry copper-gold target was discovered in 2020 after reconnaissance scale sampling
revealed high-grade copper and anomalous gold values extending over a kilometre wide area. This
outcropping target consists of a megacrystic porphyritic feldspar dyke swarm intruding plagioclase-
phyric intermediate composition volcanic rocks.
Drilling the Terry discovery has revealed large multi-phase K-feldspar rich intrusions with intense
potassic alteration (flooding), Fe-oxide staining (hematite reddening), abundant chlorite after biotite
alteration, and garnet replacement zones and veins. Silicification is rare, and the sulfide and
hypogene Fe-oxide assemblages indicate high-oxidation state magmatic-hydrothermal conditions.
Chalcopyrite and pyrite mineralization occurs as fine disseminations within porphyritic dykes and host
volcanic rocks, with higher concentrations along the margins of dykes. Malachite mineralization
occurs near-surface locally along fracture surfaces.
The rock textures, alteration styles and geological setting at Terry share similarities with
British
Columbia
alkalic porphyry deposits, including Galore Creek located 70 km to the south. Geologic
modelling in 3D will support target recognition in this context and the delineation of new drill targets.
Future drill campaigns will target high-grade zones in order to better understand their controls and
develop vectors to additional high-tenor copper domains.
Soil sampling at the Terry discovery outlines an extensive zone of copper enrichment, with numerous
multi-sample anomalies in excess of 0.1% Cu (Figure 1). The final drill hole of the season was
oriented to test newly identified copper mineralization at the Scorcher discovery and the associated
overlying soil anomaly. This potential second porphyry centre is located 2 km southeast of the Terry
target.
Figure 1: Plan map illustrating the distribution of drilling at the Terry target and the XRF Cu-in-soil
results from the soil sampling programs. (CNW Group/Libero Copper & Gold Corporation.)
Hole ID
Target
Status
Dip
Azimuth
Final Depth (m)
BR-21-028
Terry
Completed
-50
180
510
BR-21-029
Terry
Completed
-60
235
481
BR-21-030
Terry
Completed
-50
045
379
BR-21-031
Terry
Abandoned
-50
120
22
BR-21-032
Terry
Completed
-60
120
438
BR-21-033
Terry
Completed
-50
200
495
BR-21-034
Terry
Completed
-60
165
572
BR-21-035
Terry
Completed
-50
107
399
BR-21-036
Limpoke Pluton
Completed
-45
200
567
BR-21-037
Terry
Completed
-55
014
509
BR-21-038
Scorcher
Completed
-55
250
392
Table 2:
Summary of 2021 drill holes on the Big Red property.
Quality Assurance
The sampling program was undertaken under the direction of Dr.
Thomas Mumford
, P.Geo. All
sample assay results have been monitored through a quality control / quality assurance (QA/QC)
program including the insertion of blind standards, coarse blanks, and duplicate samples. Monitoring
of the QA/QC program has determined that the analytical results are of acceptable quality. Assay
samples are securely transported to ALS Global's sample preparation facilities in
Terrace, BC
and
Langley, BC
. Sample pulps are analyzed in
North Vancouver, British Columbia
for gold by fire assay
using a 30-gram charge with atomic absorption spectroscopy (AAS) finish. Samples which exceed 9
g/t gold trigger a 30-gram fire assay with a gravimetric finish. Copper and silver contents are
determined by four-acid digestion with ICP-AES finish. ALS Global is an independent laboratory.
Libero Copper
is not aware of any drilling, sampling, recovery or other factors that could materially
affect the accuracy or reliability of the data.
About Big Red
Big Red is a 26,000-hectare district scale land package with both copper and gold targets, road
access, and an airstrip. Big Red is located 45 kilometres southwest of
Telegraph Creek
along the
Barrington Road, 70 kilometres north of Galore Creek, and 70 kilometres northwest of Schaft Creek
in the Golden Triangle of northwestern
British Columbia, Canada
. The Golden Triangle is a mining
district of prodigious gold and copper mineralization and host to some of
Canada's
most famous
mines (Premier,
Red Chris
, Snip, Brucejack,
Eskay Creek
) and porphyry copper deposits (Galore
Creek, Schaft Creek, KSM, Saddle).
At Big Red, the Terry porphyry copper target is peripheral to a distinct large magnetic-high feature
over the Limpoke Pluton that coincides with a radiometric potassium anomaly, magnetic low,
conductivity high, copper, gold, silver and molybdenum anomalies and a mapped Jurassic aged
porphyry intrusion. The discovery hole drilled in Terry in
October 2020
returned 120 metres of
0.41% copper equivalent* from surface to end of hole including 73 metres of 0.49% copper
equivalent* from surface. Mineralization is associated with a porphyritic dyke swarm hosted in
intermediate volcanic rocks. Chalcopyrite mineralization occurs as fine disseminations within the
porphyritic dykes and volcanic host rocks, with higher concentrations along the margins. The rock
textures, alteration styles and geological setting at Terry share similarities with
British Columbia
alkalic porphyry deposits, including Galore Creek located 70 kilometres to the south. The discovery
is located just 8 km from road access at an elevation of 700 metres with relatively low snowfall. The
Big Red camp has both road access and an airstrip.
About
Libero Copper
& Gold
Libero Copper
is unlocking the value of a collection of porphyry copper deposits throughout the
Americas in prolific and stable jurisdictions. The portfolio includes Big Red (a new grassroots
discovery) and Big Bulk in the Golden Triangle,
Canada
; Esperanza in San Juan,
Argentina
; and
Mocoa in Putumayo,
Colombia
. These assets are advanced by a highly disciplined and seasoned
professional team with successful track records of discovery, resource development, and permitting
in the Americas.
Thomas Mumford
, Ph.D., P.Geo, a qualified person under National Instrument 43-101, has reviewed
the technical information contained in this news release on behalf of
Libero
Copper
.
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, are to be considered
forward looking. Although the Company 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, exploitation and exploration successes,
continued availability of capital and financing, and general economic, market or business
conditions and regulatory and administrative approvals, processes and filing requirements. 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:
Ian Harris,Chief Executive Officer, +1 604 294 9039,
CO: Libero Copper & Gold Corporation.
CNW 05:00e 27-JAN-22