Libero Copper Finalizes Surface Access and Land Use Agreements for the Mocoa Porphyry Copper-Molybdenum Deposit in Putumayo, Colombia
Libero Copper Finalizes Surface Access and
Land Use Agreements for the Mocoa Porphyry
Copper-Molybdenum Deposit in Putumayo,
Colombia
VANCOUVER, BC
,
Dec. 1, 2021
/CNW/ -
Libero Copper
& Gold Corporation
(TSXV:LBC)
(OTCQB:LBCMF) (DE:29H) is pleased to announce it has signed an access and land use
agreements with all landowners required to provide easier access to the Mocoa porphyry copper-
molybdenum project deposit area. The five-year renewable agreement allows for free transit of
workers and contractors, including equipment, and the construction of all necessary infrastructure to
support the upcoming drill program. The agreements allow for two separate accesses to the
existing resource area and historical drilling platforms.
Libero Copper
recently completed a high-resolution airborne magnetic-radiometric and LiDAR
surveys over an 8,100 hectare area (see News Release dated
October 19, 2021
). Interpretation of
data is currently focusing on identifying potential extensions to the north, south, east, and at depth of
the deposit and targeting new potential porphyry centers.
"The ability to sign multiple long-term land use agreements in months with the majority of landowners
covering access to the project area is a testament to the relationship established with the
communities closest to the project. I would like to congratulate both the commitment of the entire
Libero Copper
team to our core values of respect and responsibility and working under a Good
Neighbor operating philosophy, and the collaborative relationship established with our local partners,"
comments
Ian Harris
, President & CEO. "The agreements are the last critical step to start both our
geochemistry and exploration drilling programs. Our goal is to, in parallel, upgrade the existing
inferred resource, continue resource expansion, and generate and test new targets."
About the Mocoa Porphyry Copper-Molybdenum Deposit
The Mocoa deposit is located in the department of Putumayo, 10 kilometres from the town of
Mocoa. It was discovered in 1973 when the United Nations (UN) and the Colombian government
conducted a regional stream 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 cumulating in
a positive pre-feasibility study. B2Gold subsequently executed diamond drill programs in 2008 and
2012.
A pit-constrained inferred resource at Mocoa contains 636 million tonnes of 0.45% CuEq* at 0.25%
cut-off containing 4.6 billion pounds of copper and 511 million pounds of molybdenum. Mocoa is
open in both directions along strike and at depth. Additional porphyry surface targets have been
identified and are drill ready.
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, such as Mirador (438
million tonnes measured and indicated at 0.61% Cu and 235 million tonnes inferred at 0.52% Cu)
1
,
San Carlos (600 million tonnes inferred at 0.59% Cu)
2
, Panantza (463 million tonnes inferred at
0.66% Cu)
2
, and Solaris' Waritza, located in
Ecuador
.
Copper-molybdenum mineralization is associated with a dacite porphyry intrusion 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 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 Technical Report: "Mirador Copper-Gold Project 30,000 TPD Feasibility Study" dated effective April 3, 2008
2 Technical Report: "Preliminary Assessment Report Panantza & San Carlos Copper Project" dated effective October 30, 2007
About
Libero Copper
& Gold
Libero 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
.
*Copper equivalent grades (% CuEq) are for comparative purposes only. Calculations are uncut and
recovery is assumed to be 100% as insufficient metallurgical data is available. Metal prices used
USD$3.00
/lb copper,
USD$10.00
/lb molybdenum.
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,
[email protected]; Tetiana Konstantynivska, Investor Relations, +1 778 372 0179,
CO: Libero Copper & Gold Corporation.
CNW 08:00e 01-DEC-21