Libero Mining Announces Tomichi Copper Deposit Resource Estimate of 711 Million Tonnes at 0.33% Copper Equivalent
LIBERO MINING ANNOUNCES TOMICHI COPPER DEPOSIT RESOURCE
ESTIMATE OF 711 MILLION TONNES AT 0.33% COPPER EQUIVALENT
June 1, 2017 – Libero Mining Corporation (TSX-V: LBC) is pleased to announce that it has completed
a resource estimate on the Tomichi porphyry copper-molybdenum deposit (‘Tomichi’) in Colorado. The
report is entitled “ NI 43 -101 Updated Technical Report for the Tomichi Copper -Molybdenum Project
Gunnison County, Colorado”, authored by Gault Group, LLC, dated effective March 1 , 2017 and will be
filed on sedar.com within 45 days.
The Tomichi deposit contains an Inferred mineral resource estimated at 711 million tonnes at a grade of
0.21% copper, 0.035% molyb denum, 0.017 g/t gold, 2.0 g/t silver and 0.22 g/t rhenium containing
3.3Blbs copper, 555Mlbs molybdenum, 393koz gold, 46Moz silver and 339klbs of rhenium. The
resource exhibits reasonable prospects for eventual economic extraction using open pit mining m ethods.
Table 1 shows the sensitivity of the resource, listed at a variety of cut-off grades for comparison purposes,
contained inside a resource limiting pit shell that has been generated based on a copper price of $3/lb and
a molybdenum price of $10/lb. The base case resource assumes a cut -off grade of 0.25% copper
equivalent. The copper equivalent number only includes molybdenum and excludes gold, silver and
rhenium as older drill holes were not assayed for those minerals.
Table 1: Sensitivity of Inferred Mineral Resources to Cut-off Grade
Cut-off
CuEq%
Million
tonnes
Average Grade: Contained Metal:
CuEq*
(%)
Cu
(%)
Mo
(%)
Au
(g/t)
Ag
(g/t)
Re
(ppm)
Cu
(Blbs)
Mo
(Mlbs)
Au
(koz)
Ag
(Moz)
Re
(klbs)
0.1 1,002 0.29 0.19 0.031 0.015 1.8 0.193 4.17 689 493 57.2 426
0.15 990 0.30 0.19 0.032 0.015 1.8 0.194 4.15 687 490 56.9 423
0.2 906 0.31 0.20 0.033 0.016 1.8 0.202 3.93 655 460 53.7 402
0.25 711 0.33 0.21 0.035 0.017 2.0 0.216 3.31 555 393 45.6 339
0.3 480 0.36 0.23 0.039 0.019 2.1 0.231 2.42 412 287 33.2 244
0.35 264 0.39 0.25 0.043 0.020 2.3 0.247 1.43 249 168 19.8 144
The technical information contained in this news release has been reviewed and approved by Libero
Mining’s Executive Vice President of Exploration, Leo Hathaway P.Geo. , who is a Qualified Person as
defined under NI 43-101.
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Estimations are made from 3D block models based on geostatistical applications using commercial mine
planning software (MineSight® v11.50-1). The block model has a nominal block size measuring 15 x 15
x 15 m. The resource estimate was generated using drill hole sample assay results and the interpretation of
a geological model which relates to the spatial distribution of copper, molybdenum, gold, silver and
rhenium. Interpolation characteristics were defined base d on the geology, drill hole spacing, and
geostatistical analysis of the data. The effects of potentially anomalous high -grade sample data,
composited to three metre intervals, are controlled using both traditional top -cutting as well as limiting
the distance of influence during block grade interpolation. The grade models have been validated using a
combination of visual and statistical methods. The resources were classified according to their proximity
to the sample data locations and are reported, as requ ired by NI 43-101, according to the CIM Definition
Standards for Mineral Resources and Mineral Reserves. Model blocks within a maximum distance of
150m from a drill hole are included in the Inferred category. The estimate of inferred mineral resources is
within a limiting pit shell derived using projected technical and economic parameters.
About Tomichi
Tomichi is located on the southern edge of the Sawatch Range in the Tomichi Mining District, Gunnison
County, Southwestern Colorado and consists of 49 unpatented lode mining claims with a total area of 409
hectares located on US Department of Agriculture Forest Service land. Tomichi was initially worked on
in the 1950’s by Climax Molybdenum Co. and in the 1980’s by Molycorp Inc. The only drilling that has
been carried out since then were five diamond core drill holes in 2012. In total 52 diamond core drill
holes were completed comprising 16,612 metres of drilling with significant mineralised intervals
commencing near surface.
Tomichi is a porphyry copper-molybdenum deposit that has all the characteristics of porphyry systems
including multiple intrusions, zoned hydrothermal alteration, and multiple stages of veining and sulphide
mineralization. Mineralization is characterized by disseminated and fracture controlled molybdenite and
chalcopyrite hosted by a mid -Tertiary, potassic altered, intrusive system dominated by a porphyritic
quartz monzonite. The mineralized porphyry is exposed at surface on top of Copper Hill. Diamond
drilling has intersected copper-molybdenum mineralization over a surface area in excess of 1 ,500 metres
by 800 metres, to a depth of at least 600 metres and remains open to the north, east and at depth. Many
drill holes were terminated at depths ranging from 300 to 400 metres b elow surface in economic
mineralization.
About Libero Mining Corporation
Libero plans to acquire a number of high-quality copper deposits in the Americas with a significant
resource, but without any fatal flaws or significant holding costs . At the appropriate time in the cycle ,
these assets will be advanced and de -risked by a seasoned team to minim ize dilution and maximize
shareholder value.
For further information, please contact Ian Slater, Chairman:
Suite 2348 – 666 Burrard Street
Vancouver, BC, V6C 2X8
+1 604 638 2545
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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 base d 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, the ability of the Company to exercise the option 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 obli gation to update any forward -
looking statements.