Libero Copper & Gold Corporation (TSXV:LBC) (OTCQB:LBCMF, DE:29H) has received complete assay results from the first diamond drill hole by Libero Copper (MD-043) into the Mocoa porphyry copper deposit located in Putumayo, Colombia.
Highlights:
• 1,229 metres of 0.58% CuEq1 (0.42% Cu and 0.047% Mo) from 7 to 1,236 metres, incl. 840 metres of 0.72% CuEq1 (0.52% Cu and 0.062% Mo) from 108 to 948 metres, incl. 557 metres of 0.89% CuEq1 (0.62% Cu and 0.083% Mo) from 108 to 665 metres, incl. 251 metres of 1.12% CuEq1 (0.74% Cu and 0.114% Mo) from 139 to 390 metres (previously reported).
• 180 metres of 1.00% CuEq1 (0.74% Cu and 0.078% Mo) from 485 to 665 metres.
• Strategic drilling campaign planned to step out on existing mineralisation and confirm geometry and size of the mineralising system.
“This first hole has confirmed and demonstrated the exceptional grade, thickness and strength of the mineralising system present in the Mocoa area,” President and CEO, Ian Harris, said.
“The company plans to systematically unlock the potential of the Mocoa deposit area by working closely with the community and all levels of government to build a future that will be mutually beneficial for sustainable growth for all stakeholders.
“We believe the Mocoa project is a significant opportunity which can be advanced and managed to benefit all Colombians.”
In drill hole MD-043, highly elevated copper-molybdenum mineralisation has been encountered throughout the entire hole length to a depth of 1,236 meters. Elevated remnant mineralisation was also encountered within the leached cap to a depth of 108 meters.
Mineralisation intersected throughout is similar to the mineralization reported in the previous news release dated April 19 which reported on mineralization encountered to 450 m however the intensity of mineralization appears to be weakening somewhat below 948 m although strong mineralized intervals are observed to the end of the hole.
Detailed alteration studies will be completed on existing drill core to assist with the defining alteration vectors for expanding the system beyond the deposits current footprint.
Recent geophysical airborne data as well as geochemical data has been processed and has provided additional support for a possible clustered porphyry environment in the immediate Mocoa project area with multiple proximal porphyry targets present within the magnetic inversion data.
For further information please visit: https://www.liberocopper.com/
