Libero Copper Extracts Copper Metal from the Mocoa Deposit with the National University of Colombia, the First Copper Produced IN the Country
LIBERO COPPER EXTRACTS COPPER
METAL FROM THE MOCOA DEPOSIT WITH
THE NATIONAL UNIVERSITY OF COLOMBIA,
THE FIRST COPPER PRODUCED IN THE
COUNTRY
VANCOUVER, BC
,
Dec. 6, 2022
/CNW/ -
Libero Copper
& Gold Corporation
(TSXV: LBC)
(OTCQB: LBCMF) (DE: 29H) is pleased to announce that, together with the
National University
of
Colombia
(UNAL), we have extracted metallic copper from pulp from the Mocoa copper-
molybdenum deposit in Colombia. It is the first copper produced in
Colombia
from a deposit in
Colombia
. Pulps from Mocoa were taken to the Mineral Institute CIMEX of UNAL, where a
concentrate of copper minerals was produced, and then metallic copper was extracted. The project
was executed under the framework agreement between
Libero Copper
and UNAL.
For more on this project, please see the following video link:
https://youtu.be/ap5sDG_Df2s
"
Colombia
is moving away from oil, gas and coal, industries that represent half of the country's
exports, towards a green economy; away from extraction to a model of production, with transition
metals at the base. Copper is the core to capture, store and transmit these new sources of
energy. This milestone of the first copper production in
Colombia
is a testament to our shared
commitment to creating a fully vertically integrated, clean energy system and a renewed focus on
innovation and job creation within
Colombia
," comments
Ian Harris
, President & CEO. "Mocoa is the
largest copper resource in
Colombia
and critical to positioning
Colombia
as an international leader in
clean energy production. We are working with the government to create a roadmap for Mocoa
through copper production, with emphasis on the inclusion of national universities and our
communities."
Photo 1 – Copper extracted from the Mocoa deposit at CIMEX of the National University of
Colombia (CNW Group/Libero Copper & Gold Corporation.)
The energy transition and the potential of copper in
Colombia
has been a significant part of the
national conversation.
Libero Copper
has held multiple interviews nationally, including in prime-time
news and the largest printed press in the country, and continues to provide leadership as a founding
member of the Copper Mining Hub.
In addition,
Libero Copper
has held multiple meetings with government officials to help develop a
shared vision on the strategic planning of
Colombia
focused on energy transition and the industrial
shift to production chains based on strategic metals that are inclusive, participatory, and knowledge
intensive. Meetings have included the Vice-Minister of Mines, Giovanni Franco; the Minister of
Industry, Commerce and Tourism, German Umaña; senior advisors to the President of
Colombia
,
and the National Geological Service. Mr. Franco is a PhD mining and a metallurgical engineer, and
professor at UNAL. Mr. Umaña has been an economics professor at UNAL since 1980, including
times as Vice Director and Dean of the economics department.
The
National University
of
Colombia
, founded in 1867, has been at the forefront of academic study
and research for more than one a half-century. It's the leading university in
Colombia
and one of the
most representative in
Latin America
. The Mines Department was founded in 1886 at the
Medellin
campus.
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 km
2
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 totalling
18,321 metres and metallurgical test work cumulating in a positive pre-feasibility study (the pre-
feasibility study is historical in nature only and should not be relied upon as it is not NI 43-101
compliant). B2Gold subsequently executed diamond drill programs in 2008 and 2012.
Libero
Copper
commenced drilling in
March 2022
with the first hole returning 840 metres of 0.72% copper
equivalent.
A pit constrained inferred resource at Mocoa contains 636 million tonnes of 0.45% copper equivalent
(0.33% Cu and 0.036% Mo)
1
generated using
$3
/lb Cu and
$10
/lb Mo, containing 4.6 billion pounds
of copper and 511 million pounds of molybdenum. 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 Eastern 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 (438 million tonnes measured and indicated at 0.61% Cu and 235 million tonnes inferred
at 0.52% Cu)
2
, San Carlos (600 million tonnes inferred at 0.59% Cu)
3
, Panantza (463 million tonnes
inferred at 0.66% Cu)
4
and Solaris' Waritza, located in
Ecuador
.
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 diametre. High-grade copper-molybdenum mineralization continues to depths in
excess of 1,000 metres.
1
Technical Report on the Mocoa Copper-Molybdenum Project, Colombia, dated January 17th 2022, prepared by Michel Rowland Brepsant, FAusIMM, Robert Sim, P.Geo, and
Bruce Davis, FAusIMM.
2
Technical Report "Mocoa Copper-Molybdenum Project" dated effective November 1, 2021
3
Technical Report: "Mirador Copper-Gold Project 30,000 TPD Feasibility Study" dated effective April 3, 2008
4
Technical Report: "Preliminary Assessment Report Panantza & San Carlos Copper Project" dated effective October 30, 2007
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.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/December2022/06/c8582.html
%SEDAR: 00027216E
For further 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 06-DEC-22