Libero Copper & Gold Corp. [LBC-TSXV; LBCMF-OTCQB] completed the interpretation of the detailed airborne magnetic and radiometric survey data, flown at the end of 2021, and the interpretation of all surface rock sample geochemical data on the project to date, resulting in the identification of nine new porphyry targets in the immediate area at the 100%-owned Mocoa porphyry copper deposit in Putumayo, Colombia.
Highlights include nine new high-priority porphyry target areas identified and a cluster of vertical intrusive bodies (porphyries) in the immediate Mocoa deposit area with a six kilometre by 2.5 km demagnetized zone (hydrothermal alteration) with local strong potassium alteration.
Magnetic inversion data shows a series of vertical intrusive bodies (porphyries) in the Mocoa deposit area originating from the underlying eastward-dipping pluton at depth. There is a new large high-sulphidation gold-silver target (2.5 km by 1.5 km), 3 km southeast of the Mocoa deposit.
A survey was flown over an 87-km2 area surrounding the existing Mocoa porphyry deposit on granted mineral concessions. Libero Copper’s recently staked land position of more than 1,000 km2 encompassing most of the Jurassic porphyry belt in southern Colombia will be s”
Ian Harris, president and CEO, commented, “In addition to the exceptional initial results from the maiden drill program, Libero Copper continues to make significant advancements toward demonstrating the potential to increase the endowment of mineralization associated with the Mocoa deposit and the surrounding area. The apparent clustered porphyry system recently identified as a result of the airborne magnetic and radiometric survey that was flown at the end of 2021, has also identified new opportunities around and beyond the limits of the Mocoa deposit. The new targets identified will be systematically evaluated and receive the necessary follow-up work to be included in our ongoing fieldwork and upcoming drill planning. This is another important advancement for Libero Copper and the Mocoa project and we look forward to continuing the evaluation and applying this systematic approach to the entire Mocoa land position.”
The Mocoa deposit is located in the department of Putumayo, 10 km from the town of Mocoa. A pit constrained inferred resource at Mocoa contains 636 million tonnes of 0.45% copper equivalent (0.33% Cu and 0.036% Mo) generated using $3 per pound 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.