Libero Copper & Gold plans 14,000-metre drill program at Mocoa, Colombia
Libero Copper & Gold Corp. [TSXV: LBC; OTCQB: LBCMF; DE: 29H] has discussed the details of its continuing 14,000-metre exploration program at the Mocoa porphyry copper-molybdenum project. The extensive program, which combines infill, step-out and regional drilling, is designed to expand the resource, enhance geological understanding and test new target areas as part of Libero Copper’s commitment to advancing Mocoa. The flagship Mocoa porphyry copper-molybdenum deposit is Libero Copper’s flagship asset, located within the prolific Jurassic copper belt, in Colombia near the town of Mocoa, Putumayo.
Highlights: Significant resource expansion potential with 14,000 metres of drilling: This program increases the total historical drilling at Mocoa by nearly 50%, with a focus on infill and step-out drilling. Targeted zones aim to expand high-grade copper and molybdenum areas, designed at enhancing the understanding of the overall resource potential.
Exploration of new target areas: This program targets new prospective areas-including Silencio, Neblina and Piedralisa — where initial soil anomalies indicate promising mineralization. Extensive groundwork is under way to refine these areas for potential discoveries.
Strategic growth based on comprehensive analysis: This 14,000-metre program builds on two years of extensive groundwork, including relogging, geological modelling, geophysical analysis and geochemistry of soils and rocks. Designed to address key questions around Mocoa’s potential, the program reflects a systematic approach to understanding and expanding the resource’s scale.
“This program, adding 50 per cent more drilling than all previous work at Mocoa, is a major step forward for the project,” said Ian Harris, president and chief executive officer. “This achievement reflects the dedication of our team working hand in hand with local partners and the backing of Frank Giustra’s Fiore Group. Together, we’re advancing Mocoa at the scale and with the care it deserves.”
In parallel with the 14,000-metre drill program, the program will follow up on Cu-Mo-Zn-Pb (copper-molybdenum-zinc-lead) soil anomalies at Silencio, Neblina and Piedralisa. These high-priority targets were identified through extensive fieldwork and recent airborne geophysical surveys, underscoring the potential for additional mineralization outside the known deposit area.
This multipurpose exploration strategy integrates drilling on the back of extensive geologic, geophysical and geochemical groundwork, reflecting Libero Copper’s commitment to advancing Mocoa as a premier copper asset.
This plan relies on the update of the geological model for alteration and lithologies based on the detailed relogging of 8,126 metres of drilling conducted between 2008 and 2022, alongside extensive fieldwork and airborne (refer to new releases May 3, 2022, Nov. 15, 2022, and Feb. 7, 2023).
At Mocoa, 25,198 metres of drilling have been completed along a north-south strike length of over 1,000 metres, spanning a west-east distance of 600 metres and reaching a depth of 900 metres. This historical drilling has intercepted high-grade copper and molybdenum cores, though with wide drill spacing.
Exploration work completed up to date shows four highly prospective areas close to the Mocoa Cu-Mo porphyry deposit. Surface exploration planned for the 2024 to 2025 season is designed to follow up the Neblina, Piedralisa and Silencio areas. A total of 200 metres by 50 metres spacing soil grid is planned to fully cover the Silencio zone and the northwestern sector of Neblina area. Additionally, comprehensive Anaconda mapping of the main creeks in these target areas is planned.
Neblina zone (formerly target 8 and 6) is a prospective area located to the north-northeast of Mocoa deposits. This area has two zones of prospection interest named: west and east Neblina, respectively. Neblina West is located 2 km north of the Mocoa deposit and is associated with a 3-D radial symmetric isosurface intrusion (interpreted as porphyries bodies), analytical signal magnetics (AS) highs and demagnetized zone. Neblina East is located 3 km to the northeast of Mocoa deposit and is associated with a 3-D radial symmetric isosurface intrusion (interpreted as porphyries bodies) with locally elevated Mo rock values.
The Mocoa deposit is located in the department of Putumayo, 10 km from the town of Mocoa. Libero Copper’s district-scale holdings cover over 1,000 km2 through titles and applications, encompassing most of the Jurassic porphyry belt in southern Colombia.
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 roughly cylindrical, with a 600-metre diameter. High-grade copper-molybdenum mineralization continues to depths in excess of 1,000 metres.