Libero Copper & Gold Corporation (TSXV:LBC, OTCQB:LBCMF) has received positive initial partial assay results from the first diamond drill hole into the Mocoa porphyry copper deposit located in Putumayo, Colombia.
Drill hole MD-043 has been completed to a depth of 1,235 m and significant assay results have been received and are reported here to a down hole depth of 450 m.
Highlights
- 443 meters of 0.74% CuEq (0.48% Cu and 0.078% Mo) from seven to 450 m, including
- 342 metres of 0.91% CuEq (0.60% Cu and 0.093% Mo) from 108 to 450 m, including
- 251 metres of 1.13% CuEq (0.75% Cu and 0.114% Mo) from 139 to 390 m
- Drill hole MD-043 reached a depth of 1,235 m with assays pending for the remaining 785 m of core
- Broad intercepts of copper and molybdenum mineralisation continues well beyond the 450 m
“The Hole MD-043 is starting to demonstrate the real potential of the Mocoa porphyry copper and molybdenum deposit with assay results returned to date confirming the exceptional grade, thickness and strength of the mineralising system present in the area,” President and CEO, Ian Harris, said.
“The mineralised system remains open and many other porphyry targets have been identified for systematic follow-up within Libero Copper’s significant land position.
“The Mocoa resource is already the largest copper resource in Colombia and will play a key role in the country’s goals of becoming the third largest producer of copper in South America, a metal that is indispensable in the decarbonization of the world’s economy.”
In drill hole MD-043, highly elevated copper – molybdenum mineralisation occurs below the leached cap starting at a depth of 108 m.
Mocoa Porphyry Copper-Molybdenum Deposit
The Mocoa deposit is located in the department of Putumayo, 10 km from the town of Mocoa and 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 18,321 metres and metallurgical test work cumulating in a positive pre-feasibility study. B2Gold subsequently executed diamond drill programmes in 2008 and 2012.
For further information please visit: https://www.liberocopper.com/
