Libero Copper & Gold Corporation (TSXV:LBC) has partnered with Anglo Asian Mining PLC for the initial design, engineering, and financial modelling of the Mocoa Porphyry Copper-Molybdenum deposit, located in Putumayo, Colombia.
Anglo Asian is a strategic partner and largest shareholder of Libero Copper. Anglo Asian, as an experienced project developer, mine builder, operator, and explorer bringing a proven team with expertise in mine design, planning, metallurgy, geology, environmental management, and social engagement.
Anglo Asian also brings established long-term relationships with several consulting firms and manufacturing companies. Preliminary mine designs will be reviewed by top tier external professionals and consulting companies.
Highlights
- Project concept is to outline and confirm a development opportunity for an accelerated pathway to production through a foundation underground operation and local facilities for molybdenum, copper cathode and copper products production.
- Studies to be focused on using low-impact underground bulk tonnage mining methods, evaluation of backfill, and utilizing innovation and technology to minimize the project’s environmental footprint.
- Further reducing environmental impact, project design will tie into nearby existing infrastructure (less than 5km), including the low-to-no-carbon-emissions national electrical grid and existing road networks.
- Design approach will focus on and prioritize opportunities for energy efficiency and electrification of energy-intensive activities and to focus on a carbon neutral footprint.
- Project will utilize previous project studies including the 1984 positive historical prefeasibility study and 2021 updated resource estimate, and identify additional work requirements such as additional metallurgical and geotechnical test work.
The design of the Mocoa project is focused on value creation for the project by ensuring a reliable and sustainable supply of locally produced copper-based components for Colombia’s green industries, in line with the objectives of the Green Route Alliance. This initiative seeks to promote a copper-based production chain that maximizes local involvement, minimizes environmental footprint, fosters circular economic growth, and carbon neutrality.
Given the surging demand for copper in the renewable energy and electric vehicle industries, the Mocoa deposit’s inferred resource containing over two million tonnes of copper is an integral part of the success of Green Route Alliance.
Moreover, traceable and ethically-sourced materials have a high market value and are key to achieving the Green Route Alliance objective of attracting investments in green energy, climate change, and the energy transition in Colombia. The Green Route Alliance has set ambitious targets to strengthen Colombia’s position as a leader in the global transition to a low-carbon economy.
“The commencement of the design for the Mocoa Porphyry Copper-Molybdenum project marks an important milestone for Libero Copper and our partnership with Anglo Asian,” CEO and President of Libero Copper, Ian Harris, said.
“A key objective of the design is maximizing production chain development in Putumayo through a secure, long-term supply of copper for national green industries, in line with the Colombian government’s commitment to industrialization, tackling climate change and transitioning towards sustainable industries.
“We look forward to working with all our partners to develop the Mocoa project and contribute to regional development and the country’s energy transition goals.”
About the Mocoa Porphyry Copper-Molybdenum Deposit
The Mocoa deposit is located in the department of Putumayo, 10km from the town of Mocoa. Libero Copper’s district scale holdings cover over 1,000sq. km 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 totalling 18,321m and metallurgical test work culminating in a positive pre-feasibility study, B2Gold subsequently executed diamond drill programmes in 2008 and 2012. Libero Copper drilled Mocoa in 2022 and intercepted 840m of 0.72% copper equivalent (see press release dated April 26, 2022).
A pit constrained inferred resource at Mocoa contains 636Mt of 0.45% copper equivalent (0.33% Cu and 0.036% Mo) generated using $3/lb Cu and $10/lb Mo, containing 4.6Blbs of copper and 511Mlbs 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.
About Anglo Asian Mining
Anglo Asian Mining is an AIM listed gold, copper, and silver producer with a broad portfolio of assets in Azerbaijan, which includes seven production sharing agreements (PSAs) where it operates the Gedabek, Gosha, Gadir and Vejnaly underground mines, as well as the Gedabek open pit mine. Anglo Asian is the largest gold producer in Azerbaijan and has a proven track record of successful mining operations in the country.
The company is committed to responsible mining practices, including the use of modern, environmentally friendly technologies, and has been recognized for its efforts in sustainability and social responsibility.
For further information please visit: https://www.liberocopper.com/
