Libero Copper Identifies Significant Potassium Anomaly Immediately Southeast of the Terry Porphyry Cu- Au Discovery at BIG Red and Field Crew Mobilized FOR Summer Drill Program
LIBERO COPPER IDENTIFIES SIGNIFICANT
POTASSIUM ANOMALY IMMEDIATELY
SOUTHEAST OF THE TERRY PORPHYRY CU-
AU DISCOVERY AT BIG RED AND FIELD
CREW MOBILIZED FOR SUMMER DRILL
PROGRAM
VANCOUVER, BC
,
May 31, 2022
/CNW/ -
Libero Copper
& Gold Corporation
(TSXV: LBC)
(OTCQB: LBCMF) (DE: 29H) is pleased to announce the geological team has mobilized to kick-off
the field season at the Big Red project located 70 kilometers north-northwest of the Galore Creek
deposit in the golden triangle of northwest
British Columbia
, Canada. In addition,
Libero Copper
has
completed the interpretation of the detailed airborne magnetic and radiometric survey data over the
Terry porphyry Cu-Au discovery area. Processing of the radiometric data has identified of a large, 4
by 4 by 4-kilometer triangular shaped area with a strongly elevated potassic alteration signature
located immediately southeast of the Terry porphyry Cu-Au discovery. This target area will be the
focus of the drill program scheduled to begin in mid-July and is intended to follow up on the previous
mineralized drill intercepts from the Terry porphyry Cu-Au discovery (i.e. 120 metres of 0.41%
CuEq
1
(0.34% Cu, 0.06 g/t Au, 2.47 g/t Ag) from surface, refer to Big Red news release dated
January 19, 2021
).
Highlights
Processing of the 2021 airborne magnetics and radiometrics survey identifies large 4 by
4 by 4-kilometer triangular shaped area with strong potassic alteration immediately
southeast of and continuous with the Terry porphyry Cu-Au discovery representing
possible hydrothermal source for Cu-Au mineralization.
ASTER data for the property identifies a number of targets for follow-up examination
Field crew has mobilized to the project to initiate the summer field program with drilling
scheduled to begin in mid-July
"We are excited to be kicking off the summer field season at Big Red. The exceptional target area
identified southeast of the Terry area may represent the source for the hydrothermal system feeding
the Terry porphyry discovery. We are providing the team with all of the technology necessary for a
successful field season and look forward to drill testing this target," comments
Ian Harris
, President
& CEO.
During the 2021 field season, Precision GeoSurveys completed magnetic and radiometric surveys
over the Terry porphyry Cu-Au porphyry discovery area at Big Red, covering 47.5 km
2
.
Daniel Core
,
PhD., of Fathom Geophysics, was contracted by
Libero Copper
to process and interpret the
geophysical data. The main products generated include a magnetic vector inversion model,
radiometric filter models to identify potassium alteration, structure detection filtering, and
interpretations of the lithology, structure, and alteration in the area.
1
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 main outcomes and conclusion from this geophysical interpretation are as follows (refer to
figures 1 to 7 below):
A 4 by 4 by 4-kilometer triangular shaped area with a strongly elevated potassium enrichment
has been identified in the radiometric data immediately southeast of the Terry porphyry Cu-Au
discovery and may represent the source of the hydrothermal solutions responsible for the
mineralization in the Terry area.
This large triangular potassium enrichment anomaly is generally oriented in a northeast direction
and is coincidental with a large northeast trending magnetic low and a series of small syenitic
intrusions that have been mapped along this trend (each is less than 1 km diameter) classified
as the Lower Triassic age Galore Plutonic Suite.
The magnetic inversion model has identified several smaller apothyses flanking both the
potassic enrichment and magnetic low areas possibly representing cupolas to unroofed
intrusions (porphyries).
The previous drilling at the Terry area intersected significant intervals of Cu-Au mineralization
however they were drilled approximately 500 metres northwest of the area identified as the
margin to the strong potassium response (alteration).
The magnetic inversion model indicates the triangular shaped potassium alteration area occurs
immediately east of the Limoke pluton (Jurassic 194 ma).
Three additional areas have been identified with elevated potassic response within the 2021
magnetics and radiometrics survey area which require follow-up.
Follow-up drilling this field season will focus on testing this area to identify the hydrothermal
source responsible for the mineralization in the Terry area.
Re-evaluation of the ASTER satellite alteration mapping was performed, and a number of targets
have been identified which are located on figures 1 through 7 below and will be followed up this field
season.
Figure 1: Gray scale DEM backdrop, large K-enrichment area immediately southeast of the Terry
porphyry Cu-Au discovery and ASTER target areas (CNW Group/Libero Copper & Gold
Corporation.)
Figure 2: Gray scale DEM backdrop, large K-enrichment area immediately southeast of the Terry
porphyry Cu-Au discovery ASTER target area and rock sample geochemistry Cu ppm (CNW
Group/Libero Copper & Gold Corporation.)
Figure 3: Gray scale DEM backdrop, large K-enrichment area immediately southeast of the Terry
porphyry Cu-Au discovery ASTER target area and rock sample geochemistry Au ppm (CNW
Group/Libero Copper & Gold Corporation.)
Figure 4: Gray scale DEM backdrop, large K-enrichment area immediately southeast of the Terry
porphyry Cu-Au discovery ASTER target area and rock sample geochemistry Mo ppm (CNW
Group/Libero Copper & Gold Corporation.)
Figure 5: K/Th ratio with the 2021 survey data merged with the 2017 survey data shows strong -
alteration signature immediately southeast of the Terry porphyry Cu-Au discovery. (CNW
Group/Libero Copper & Gold Corporation.)
Figure 6: 2021 magnetics and radiometrics survey area with geological interpretation and strong
potassic alteration located immediately southeast of the Terry Cu-Au porphyry discovery. (CNW
Group/Libero Copper & Gold Corporation.)
Figure 7: Magnetic inversion model isosurface with smaller apothyses flanking both the area with
potassic enrichment and large magnetic low (possible hydrothermal source for the Terry area
mineralization). (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 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. 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:
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 31-MAY-22