Libero Copper Extends the Terry Porphyry Copper-GOLD Discovery
LIBERO COPPER EXTENDS THE TERRY
PORPHYRY COPPER-GOLD DISCOVERY
VANCOUVER, BC
,
Jan. 16, 2023
/CNW/ -
Libero Copper
& Gold Corporation
(TSXV: LBC)
(OTCQB: LBCMF) (DE: 29H) provides the results from the summer 2022 drill program at the Big
Red project located 70 kilometers north-northwest of the Galore Creek deposit in the golden triangle
of
British Columbia, Canada
. A total of four drill holes were completed (2,790 metres) during the
2022 field season. Three holes tested syenite porphyry intrusion targets to the east of the Terry
porphyry copper-gold discovery in an area with an elevated potassic response (radiometric data)
and coincidental surface rock samples which contain elevated copper mineralization.
Hole BR-22-043, drilled at the Terry porphyry discovery area intersected 0.24% Cu and 0.03 g/t Au
over 100.5 metres (from 7.5 to 108.0 metres). Refer to Tables 1 to 3 for significant intercepts and
Figures 1 to 5 for drill hole locations and a cross section of hole BR-22-043. This hole successfully
tested the down dip extension of the porphyry copper-gold mineralization intersected in drill hole BR-
21-028 which returned 0.26% Cu and 0.06 g/t Au over 118.7 metres (from 8.3 to 127.0 metres).
"We are pleased that we successfully intersected the extension of the Terry porphyry mineralization
in hole BR-22-043. We will be analysing all the field data in preparation for the 2023 field season,"
comments
Ian Harris
, CEO.
All holes drilled during the 2022 program typically intersected medium grained syenite to granodiorite
intrusive units with intercalations of volcanic and volcaniclastics units. The intrusive units are typically
potassic altered with trace to 1% disseminated pyrite through. Quartz veinlets and stringers contain
locally variable pyrite and chalcopyrite. Copper mineralization is typically associated with a specific
crowded porphyry phase which is more abundant in the immediate Terry area. Intrusive contact
zones and immediately adjacent wall rock units typically represent favourable depositional sites for
higher grade mineralization and veining. No significant copper-gold mineralization was intersected in
the three holes drilled to the southeast of the Terry porphyry discovery area. The 2022 drill hole
azimuth and dip information is summarized in Table 4.
In addition to drilling in the Terry area, reconnaissance field examinations were carried out on the
main mineral occurrences on the property. A total of 614 surface rock samples were collected and
assayed. Assays confirm the previous historic sampling results from these areas with mineralized
samples containing up to 10 g/t Au. Additional follow-up fieldwork will be completed during the 2023
field program for the Poker, Windy, TGR north, Ridge and West targets to identify the source and
scale of the mineralization in these areas (Figure 2 to 4).
Drill Hole
From (m)
To (m)
Interval (m)
Cu (%)
Ag (g/t)
Au (g/t)
BR-20-022*
0
24.38 (EOH)
24.38
0.38
2.22
0.06
incl.
12.19
24.38
12.19
0.56
3.10
0.06
BR-20-023*
0
120.4 (EOH)
120.4
0.34
2.47
0.06
incl.
3.05
73.15
70.10
0.41
2.93
0.07
and incl.
60.96
73.15
12.19
1.02
7.23
0.11
BR-20-024*
0
182.88 (EOH)
182.88
0.16
1.21
0.03
incl.
0
102.11
102.11
0.21
1.54
0.04
and incl.
0
42.67
42.67
0.29
2.23
0.06
and incl.
7.62
24.38
16.76
0.34
2.35
0.07
BR-20-025*
1.52
173.74 (EOH)
172.22
0.24
1.52
0.04
incl.
4.57
85.34
80.77
0.36
2.45
0.06
and incl.
68.58
82.30
13.72
0.71
4.32
0.08
BR-20-026*
0
7.32 (EOH)
7.32
0.35
2.73
0.08
BR-20-027*
0
76.2 (EOH)
76.20
0.19
1.18
0.05
incl.
0
19.81
19.81
0.31
2.09
0.07
Table 1: 2020 Drill Results * Previously released (
January 19, 2021
)
Drill Hole
From (m)
To (m)
Interval (m)
Cu (%)
Ag (g/t)
Au (g/t)
BR-21-028*
8.30
510.00 (EOH)
501.70
0.18
1.23
0.04
incl.
8.30
127.00
118.70
0.26
1.83
0.06
and incl.
78.20
96.81
18.61
0.42
3.03
0.14
incl.
278.50
306.50
28.00
0.33
1.47
0.04
incl.
478.00
510.00 (EOH)
32.00
0.3
1.76
0.06
BR-21-029*
7.34
480.60 (EOH)
473.26
0.1
0.68
0.02
incl.
7.34
76.00
68.66
0.24
1.72
0.03
BR-21-030*
6.18
378.60 (EOH)
372.42
0.07
0.76
0.01
incl.
6.18
53.50
47.32
0.15
1.65
0.01
BR-21-031*
abandoned hole
BR-21-032*
41.70
438.00 (EOH)
396.30
0.04
0.40
0.04
incl.
41.70
85.33
43.63
0.15
0.98
0.02
BR-21-033*
9.00
495.40 (EOH)
486.40
0.14
0.96
0.03
incl.
9.00
79.15
70.15
0.15
1.35
0.05
and incl.
230.10
342.15
112.05
0.19
1.25
0.04
and incl.
401.40
495.40 (EOH)
94.00
0.16
1.02
0.03
and incl.
440.00
495.40 (EOH)
55.40
0.17
1.45
0.04
BR-21-034*
6.00
571.60 (EOH)
565.60
0.1
0.73
0.02
incl.
6.00
41.00
35.00
0.17
1.71
0.03
and incl.
177.00
181.50
4.50
0.64
4.40
0.05
BR-21-035*
10.5
399.30 (EOH)
388.80
0.15
0.58
0.01
incl.
49.00
83.50
34.50
0.19
1.39
0.02
and incl.
152.50
399.30 (EOH)
147.00
0.23
0.74
0.02
and incl.
180.00
299.50
119.50
0.25
2.26
0.02
and incl.
201.00
216.00
15.00
0.43
1.90
0.04
and incl.
279.00
287.50
8.50
0.84
5.69
0.07
BR-21-036*
abandoned hole
BR-21-037*
83.60
509.60 (EOH)
426.00
0.09
0.16
0.04
incl.
236.00
273.50
37.50
0.17
0.54
0.08
BR-21-038*
16.08
391.80 (EOH)
375.72
0.06
0.11
0.02
Table 2: 2021 Drill Results * Previously released (
January 27, 2022
)
Drill Hole
From
(m)
To (m)
Interval
Cu %
Ag (g/t)
Au (g/t)
BR-22-039
abandoned hole
BR-22-040
abandoned hole
BR-22-041
no significant results
BR-22-042
no significant results
BR-22-043
7.47
231.40
223.93
0.17
1.38
0.03
incl.
7.47
108.00
100.53
0.24
1.74
0.05
and incl.
7.47
35.50
28.03
0.25
2.07
0.04
and incl.
7.47
21.50
14.03
0.25
2.32
0.03
incl.
32.00
35.50
3.50
0.46
3.14
0.10
incl.
56.50
108.00
51.50
0.27
1.78
0.08
and incl.
56.50
84.50
28.00
0.34
2.32
0.11
and incl.
56.50
79.50
23.00
0.37
2.43
0.13
incl.
196.00
206.00
10.00
0.26
1.65
0.03
and incl.
204.00
205.50
1.50
0.78
5.00
0.06
301.00
303.50
2.50
0.20
3.00
0.25
incl.
301.50
303.00
1.50
0.28
4.33
0.34
BR-22-044
no significant results
Table 3: 2022 Drill Results
Drill Hole
Target
Status
Easting
Northing
Elevation
Azimuth
Dip
Final Depth
BR-22-039
Grande
abandoned
334457
6411117
607
135
-50
123
BR-22-040
Grande
abandoned
334694
6411478
656
135
-50
436
BR-22-041
Blowdown
complete
335411
6409348
760
300
-49
655.5
BR-22-042
Scorcher
complete
334863
6409626
674
305
-60
729
BR-22-043
Terry
complete
333590
6411312
773
180
-70
352
BR-22-044
Grande
complete
334440
6411054
602
110
-55
494
Table 4: 2022 Drill Hole Information
Figure 1: Cross section through DDH BR-22-043 (CNW Group/Libero Copper & Gold Corporation.)
Figure 2: Drill hole locations and main mineral occurrences (CNW Group/Libero Copper & Gold
Corporation.)
Figure 3: Interpreted geology, drill hole locations, main mineral occurrences, all rock sample
locations (Cu ppm) (CNW Group/Libero Copper & Gold Corporation.)
Figure 4: Interpreted geology, drill hole locations, main mineral occurrences, all rock sample
locations (Au ppm) (CNW Group/Libero Copper & Gold Corporation.)
Figure 5: Terry porphyry copper-gold discovery area with geology interpretation, drill hole locations
and rock samples (Cu ppm) (CNW Group/Libero Copper & Gold Corporation.)
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 (BR-20-23) returned 120
metres grading 0.34% Cu, 2.47 gpt Ag, 0.06 gpt Au, including 0.41% Cu, 2.93 gpt Ag and 0.07 gpt
Au over 70.1 metres and including 1.02% Cu, 7.23 g/t Ag, 0.11 g/t Au over 12.2 metres.
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 age, rock textures, alteration styles
and geological setting at Terry share similarities with British Columbia alkalic porphyry deposits,
including Galore Creek. The discovery is located just 8 km from road access at an elevation of 700
metres with relatively low snowfall.
Qualified Person
Information in this news release relating to the exploration results is based on data reviewed by
Matthew C. Wunder
, B.Sc. P.Geo., the Vice President Exploration for
Libero Copper
. Mr. Wunder is
a registered Professional Geologist and has in excess of 35 years' experience in mineral exploration
and is a Qualified Person as defined under National Instrument 43-101.
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 the Mocoa deposit in Putumayo,
Colombia
; Esperanza in San Juan,
Argentina
; and Big Red and Big Bulk in the Golden Triangle, BC,
Canada
. These assets are being advanced by a highly disciplined and seasoned professional team
with successful track records of discovery, resource development, and permitting in the Americas.
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
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, 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:
Additional Information: Ian Harris, Chief Executive Officer, +1 604 294
9039, [email protected]; Michelle Borromeo, VP Investor Relations, +1 604 715 6845,
CO: Libero Copper & Gold Corporation.
CNW 07:00e 16-JAN-23