VANCOUVER, BC, June 1, 2022
/CNW/ - Libero Copper & Gold
Corporation (TSXV: LBC) (OTCQB: LBCMF) (DE: 29H)
("Libero Copper") is pleased to announce that it has entered
a framework cooperation agreement with the Technological Institute
of Putumayo ("ITP"), the first such agreement with a private
company in Colombia. The first associate project is a
three-part program between Libero
Copper, ITP, and the National
University of Colombia
("UNC"), to jointly begin water quality baseline studies starting
in June 2022. The studies will be a
significant part of an environmental baseline study at the Mocoa
deposit, and potential future ancillary permits. The Mocoa porphyry
copper and molybdenum deposit is located in the department of
Putumayo, 10 kilometres from the town of Mocoa.
Highlights
- Technological Institute of Putumayo ("ITP") is the most
influential college of the region with 2,700 students. The Governor
of Putumayo is the President of the Board of Directors.
- The water baseline project includes the collaboration with
and training for seven communities that are closest to the Mocoa
Project, including Montclar, to be participants of the baseline
study and results.
- The first framework cooperation between ITP and a private
company, the agreement includes the development of research
projects focused on improving scientific knowledge around the Mocoa
Project area regarding water, biodiversity, sustainable
development, sciences, technology, and innovation in the Department
of Putumayo.
The cooperation agreement is an integral part of Libero Copper's commitment to engagement and
maximizing local benefits. For more on our program, please see the
following video link: Libero Copper
works together with the community at Putumayo.
"It is a great honor to part of this alliance with two
prestigious academic institutions, ITP and UNC. This step is significant from multiple
perspectives. First it is directly aligned with the Libero's goal
of maximizing local benefits by providing real opportunities and
involvement for local and national professionals to apply their
studies. The first tangible step of the many opportunities this
alliance will create. Second, it establishes the precedent of
working together with independent reputable institutions on the
advancement of the Mocoa project collaboratively and transparently
with our neighbors," stated Ian
Harris, President and CEO of Libero
Copper. "We believe that generating, sharing, and
incorporating knowledge with and from communities – our neighbors,
government, national and local institutions, is the correct path
forward. Libero Copper is committed
to making a difference."
"We firmly believe in the need to consolidate strategic
cooperation alliances, with national and international public and
private institutions and companies, that allow us to grow and
mutually advance in the corporate mission objectives, through
research, training, science and technology, creating sustainable
benefits and environmental, social, economic and cultural
development, contributing to the solutions and changes that our
environment and the planet demand today," commented Miguel
Ángel Canchala, Dean of the Technological Institute of
Putumayo.
The Technological Institute of Putumayo was founded in 1992 by
the then Governor of Putumayo focusing on the following
technological careers: Environmental Technology, Forestry, Mining,
Programming and Systems, Administration and Systematized
Accounting. ITP is a public institution of higher education,
committed to regional development, dedicated to the training of
technicians, technologists, and professionals in the transformation
of their environment.
The National University of
Colombia is a national level
Colombian public university, founded on September 22, 1867. It is the most important and
representative university in Colombia for its tradition, prestige, quality
and selectivity. The Mines Department was founded in 1886 at the
Medellin campus.
About the Mocoa Porphyry
Copper-Molybdenum Deposit
The Mocoa deposit is located in the department of Putumayo, 10
kilometres from the town of Mocoa. Libero
Copper's district scale holdings cover over 1,000
km2 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 totaling 18,321
metres and metallurgical test work cumulating in a positive
pre-feasibility study (the pre-feasibility study is historical in
nature only and should not be relied upon as it is not NI 43-101
compliant). B2Gold subsequently executed diamond drill programs in
2008 and 2012.
A pit constrained inferred resource at Mocoa contains 636
million tonnes of 0.45% copper equivalent (0.33% Cu and 0.036%
Mo)1 generated using $3/lb
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 of
known mineralization which will receive additional follow-up
drilling in 2022.
The Mocoa deposit is situated in the Eastern Cordillera of
Colombia, a 30-kilometre-wide
tectonic belt underlain by volcano-sedimentary, sedimentary
and intrusive rocks that range in age from Triassic-Jurassic to
Quaternary and by remnants of Paleozoic metasediments and
metamorphic rocks of Precambrian age. This belt hosts several other
porphyry-copper deposits in Ecuador, such as Mirador (438 million tonnes
measured and indicated at 0.61% Cu and 235 million tonnes inferred
at 0.52% Cu)3, San Carlos (600 million tonnes inferred
at 0.59% Cu)3, Panantza (463 million tonnes inferred at
0.66% Cu)4 and Solaris' Waritza, located in Ecuador.
Copper-molybdenum mineralization is associated with dacite
porphyry intrusions of the Middle Jurassic age that are emplaced
into andesitic and dacitic volcanics. The Mocoa porphyry system
exhibits a classical zonal pattern of hydrothermal alteration and
mineralization, with a deeper central core of potassic alteration
overlain by sericitization and surrounded by propylitization.
Mineralization consists of disseminated chalcopyrite, molybdenite
and local bornite and chalcocite associated with multiphase
veins, stockwork and hydrothermal breccias. 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.
2 Technical Report "Mocoa Copper-Molybdenum
Project" dated effective November 1,
2021
3 Technical Report: "Mirador Copper-Gold Project
30,000 TPD Feasibility Study" dated effective April 3, 2008
4 Technical Report: "Preliminary Assessment Report
Panantza & San Carlos Copper Project" dated effective
October 30, 2007
About Libero Copper & Gold
Libero Copper is unlocking the
value of a collection of porphyry copper deposits throughout the
Americas in prolific and stable jurisdictions. The portfolio
includes the Mocoa deposit in Putumayo, Colombia; Esperanza in San Juan, Argentina; and Big Red and Big Bulk in the
Golden Triangle, BC, Canada. These
assets are being advanced by a highly disciplined and seasoned
professional team with successful track records of discovery,
resource development, and permitting in the Americas.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. This news release includes
forward-looking statements that are subject to risks and
uncertainties. All statements within, other than statements
of historical fact, are to be considered forward looking. Although
Libero Copper believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in forward-looking statements. Factors that
could cause actual results to differ materially from those in
forward-looking statements include market prices, exploitation and
exploration successes, continued availability of capital and
financing, and general economic, market or business conditions and
regulatory and administrative approvals, processes and filing
requirements. There can be no assurances that such statements will
prove accurate and, therefore, readers are advised to rely on their
own evaluation of such uncertainties. We do not assume any
obligation to update any forward-looking statements.
SOURCE Libero Copper & Gold
Corporation.