Libero Copper Starts Water Quality Baseline Studies with the Technological Institute of Putumayo and the Colombian National University
LIBERO COPPER STARTS WATER QUALITY
BASELINE STUDIES WITH THE
TECHNOLOGICAL INSTITUTE OF PUTUMAYO
AND THE COLOMBIAN NATIONAL
UNIVERSITY
VANCOUVER, BC
,
June 1, 2022
/CNW/ -
Libero Copper
& Gold Corporation
(TSXV: LBC)
(OTCQB: LBCMF) (DE: 29H)
("Libero Copper")
is pleased to announce that it has entered a
framework cooperation agreement with the Technological Institute of Putumayo ("ITP"), the first
such agreement with a private company in Colombia. The first associate project is a three-part
program between
Libero Copper
, ITP, and the
National University
of
Colombia
("UNC"), to jointly
begin water quality baseline studies starting in
June 2022
. The studies will be a significant part of an
environmental baseline study at the Mocoa deposit, and potential future ancillary permits. The
Mocoa porphyry copper and molybdenum deposit is located in the department of Putumayo, 10
kilometres from the town of Mocoa.
Highlights
Technological Institute of Putumayo ("ITP") is the most influential college of the region
with 2,700 students. The Governor of Putumayo is the President of the Board of
Directors.
The water baseline project includes the collaboration with and training for seven
communities that are closest to the Mocoa Project, including Montclar, to be
participants of the baseline study and results.
The first framework cooperation between ITP and a private company, the agreement
includes the development of research projects focused on improving scientific
knowledge around the Mocoa Project area regarding water, biodiversity, sustainable
development, sciences, technology, and innovation in the Department of Putumayo.
The cooperation agreement is an integral part of
Libero Copper's
commitment to engagement and
maximizing local benefits. For more on our program, please see the following video link:
Libero Copper
works together with the community at Putumayo.
"It is a great honor to part of this alliance with two prestigious academic institutions, ITP and
UNC
.
This step is significant from multiple perspectives. First it is directly aligned with the Libero's goal of
maximizing local benefits by providing real opportunities and involvement for local and national
professionals to apply their studies. The first tangible step of the many opportunities this alliance will
create. Second, it establishes the precedent of working together with independent reputable
institutions on the advancement of the Mocoa project collaboratively and transparently with our
neighbors," stated
Ian Harris
, President and CEO of
Libero Copper
. "We believe that generating,
sharing, and incorporating knowledge with and from communities – our neighbors, government,
national and local institutions, is the correct path forward.
Libero Copper
is committed to making a
difference."
"We firmly believe in the need to consolidate strategic cooperation alliances, with national and
international public and private institutions and companies, that allow us to grow and mutually
advance in the corporate mission objectives, through research, training, science and technology,
creating sustainable benefits and environmental, social, economic and cultural development,
contributing to the solutions and changes that our environment and the planet demand
today," commented Miguel Ángel Canchala, Dean of the Technological Institute of Putumayo.
The Technological Institute of Putumayo was founded in 1992 by the then Governor of Putumayo
focusing on the following technological careers: Environmental Technology, Forestry, Mining,
Programming and Systems, Administration and Systematized Accounting. ITP is a public institution
of higher education, committed to regional development, dedicated to the training of technicians,
technologists, and professionals in the transformation of their environment.
The
National University
of
Colombia
is a national level Colombian public university, founded on
September 22, 1867
. It is the most important and representative university in
Colombia
for its
tradition, prestige, quality and selectivity. 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 totaling
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.
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 which will receive additional follow-
up drilling in 2022.
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)
3
, 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 diameter. High-grade copper-molybdenum mineralization continues to depths in
excess of 1,000 metres.
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.
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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 01-JUN-22