VANCOUVER, BC, Nov. 29,
2022 /CNW/ - Libero
Copper & Gold Corporation (TSXV: LBC) (OTCQB: LBCMF)
(DE: 29H) is pleased to announce that it has entered into a
"Cooperation Framework Agreement for "Participation and Generation
of Shared Benefits" for the exploration of the Mocoa
copper-molybdenum deposit with the community of Montclar. The
Montclar community is the only community near the Mocoa deposit.
The objective of the agreement is "to provide a general
framework of action between the parties of the agreement in order
to join efforts to generate shared value, improve the quality of
life of the community and contribute to the success of the
exploration project by increased understanding and cooperation with
the community of Montclar."
"We are extremely proud of the collective vision of both our
neighbours and our team to build together the first project
specific participation agreement for an exploration project in
Colombia," comments Ian Harris, President & CEO. "This is a
major milestone for the project, and we believe it will represent a
model moving forward for responsibly developing projects together
while aligning with the government's goals of community
participation as both managers of building a joint vision of
development, and guarantors of well-being."
The agreement was executed on November
21st by Libero and the community action board,
which is the elected governing body of the municipal subdivision of
Montclar, the community closest to the Mocoa project. The execution
of the agreement was approved and signed unanimously by all members
of the board and supported by the underlying signature of over 95%
of the families of Montclar. The agreement was the result of six
"Good Neighbour" co-planning meetings with the community, which
took place in 2022. The agreement focuses on co-success and
encompasses efforts on open communication, co-planning, training,
strengthening community governance, cultural preservation,
traditional knowledge transfer, employment, capacity building for
services, water protection, environmental participation, and
planning of shared infrastructure.
Libero's Commitment to Mocoa
and Putumayo
Colombia is committed to being
a leader in the movement towards energy transition and fighting
climate change. The strategy of the government and that of
President Gustavo Petro, is a just
energy transition towards a productive economy. With renewable
energies as its pillar, this strategy prioritizes social
participation, with communities as partners. Mocoa is the largest
copper resource in Colombia, and
currently the only strategic metals project in Putumayo. Since the
restart of the project in early 2021, Libero has focused on
participation and inclusion to maximize the benefits of the Mocoa
project, and to ensure environment, social, and cultural
excellence.
Some of the most recent highlights of Libero's proactive and
inclusive engagement efforts include:
- Employment: 85% of employees are from Putumayo and 99%
are from Colombia. Of the
professional staff, 60% are from Putumayo, and 62% are women.
(Photo 2)
- September 2022:
-
- Hosting of "ECUSumit 2022" in Mocoa, Putumayo with over 120
local businesses with a combined vision of using the Mocoa project
as a motor for development and a future hub for the energy
transition. (Photo 3)
- Training of local community members by SENA (Colombia's National Learning Service) for
water quality monitoring. Training is part of a program with
the National University of Colombia, and Putumayo Technological
Institute, for community members to participate with the
universities in the water baseline study and oversite of the Mocoa
project. (Photo 4)
- October 2022:
-
- Libero's public commitment and presentation of corporate
support for human rights. The event was attended by the Governor's
office, leaders on human rights from the Ministry of Energy and
Mines, the National Ombudsman, local national and departmental
congressman, municipal counsellors, presidents of the community
action boards, and other community leaders. It was the first time
in Colombia a mineral exploration
company committed from its beginning to respect and promote human
rights. (Photo 5)
- Panelist and exhibitor at Putumayo Technology Institute's
(ITP) "Entrepreneurship Expo and Conversations for the
Strengthening of the Entrepreneurial Culture". ITP is the largest
university in Putumayo with over 3,000 students. (Photo 6)
- The only mining company invited to the World Indigenous
Business Forum 2022, based on the company's engagement with the
local indigenous community. It was the first time the event was
held in Colombia. Libero attended
the forum with local indigenous leaders, to learn about shared
experiences on business creation in indigenous communities. (Photo
7)
- November 2022:
-
- Workshop for the Empowerment of Women, launched by the Ministry
of Energy and Mines and the UN Development Program. Libero Copper was 1 of 6 companies selected from
the mining, oil, gas, and energy sector, for its leadership in
gender equality. (Photo 8)
- Presentation of the Mocoa project by invitation of the
Municipal Council of Mocoa. Presentation delivered
exclusively by local Libero professionals by their area of
expertise. (Photo 9)
- Invited by the Governor's office to the first mining sector
event in Putumayo, organized to add visibility of the sector to
start the process of creating a Mining Table for Putumayo, that
would require consultation for all policies that impact the sector.
(Photo 10)
![Photo 2 - Libero Team at the Mocoa Core Shack (CNW Group/Libero Copper & Gold Corporation.) Photo 2 - Libero Team at the Mocoa Core Shack (CNW Group/Libero Copper & Gold Corporation.)](https://mma.prnewswire.com/media/1957235/Libero_Copper___Gold_Corporation__LIBERO_COPPER_ENTERS_MUTUAL_BE.jpg)
![Photo 3 - ECUSumit 2022 (CNW Group/Libero Copper & Gold Corporation.) Photo 3 - ECUSumit 2022 (CNW Group/Libero Copper & Gold Corporation.)](https://mma.prnewswire.com/media/1957239/Libero_Copper___Gold_Corporation__LIBERO_COPPER_ENTERS_MUTUAL_BE.jpg)
![Photo 4 – Water sample certification for local community members (CNW Group/Libero Copper & Gold Corporation.) Photo 4 – Water sample certification for local community members (CNW Group/Libero Copper & Gold Corporation.)](https://mma.prnewswire.com/media/1957241/Libero_Copper___Gold_Corporation__LIBERO_COPPER_ENTERS_MUTUAL_BE.jpg)
![Photo 5 – Public declaration to respect and support human rights (CNW Group/Libero Copper & Gold Corporation.) Photo 5 – Public declaration to respect and support human rights (CNW Group/Libero Copper & Gold Corporation.)](https://mma.prnewswire.com/media/1957243/Libero_Copper___Gold_Corporation__LIBERO_COPPER_ENTERS_MUTUAL_BE.jpg)
![Photo 6 – Libero’s participation in Putumayo Technology Institute’s “Entrepreneurship Expo” (CNW Group/Libero Copper & Gold Corporation.) Photo 6 – Libero’s participation in Putumayo Technology Institute’s “Entrepreneurship Expo” (CNW Group/Libero Copper & Gold Corporation.)](https://mma.prnewswire.com/media/1957244/Libero_Copper___Gold_Corporation__LIBERO_COPPER_ENTERS_MUTUAL_BE.jpg)
![Photo 7 – Invitation and attendance to the World Indigenous Forum 2022, in Colombia (CNW Group/Libero Copper & Gold Corporation.) Photo 7 – Invitation and attendance to the World Indigenous Forum 2022, in Colombia (CNW Group/Libero Copper & Gold Corporation.)](https://mma.prnewswire.com/media/1957245/Libero_Copper___Gold_Corporation__LIBERO_COPPER_ENTERS_MUTUAL_BE.jpg)
![Photo 8 - Workshop for the Empowerment of Women, launched by the Ministry of Energy and Mines and the UN Development Program (CNW Group/Libero Copper & Gold Corporation.) Photo 8 - Workshop for the Empowerment of Women, launched by the Ministry of Energy and Mines and the UN Development Program (CNW Group/Libero Copper & Gold Corporation.)](https://mma.prnewswire.com/media/1957246/Libero_Copper___Gold_Corporation__LIBERO_COPPER_ENTERS_MUTUAL_BE.jpg)
![Photo 9 – Presentation by Libero to Mocoa’s Municipal Council (CNW Group/Libero Copper & Gold Corporation.) Photo 9 – Presentation by Libero to Mocoa’s Municipal Council (CNW Group/Libero Copper & Gold Corporation.)](https://mma.prnewswire.com/media/1957247/Libero_Copper___Gold_Corporation__LIBERO_COPPER_ENTERS_MUTUAL_BE.jpg)
![Photo 10 – Governor sponsored first mining sector event in Putumayo (CNW Group/Libero Copper & Gold Corporation.) Photo 10 – Governor sponsored first mining sector event in Putumayo (CNW Group/Libero Copper & Gold Corporation.)](https://mma.prnewswire.com/media/1957248/Libero_Copper___Gold_Corporation__LIBERO_COPPER_ENTERS_MUTUAL_BE.jpg)
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. Libero Copper
commenced drilling in March 2022 with
the first hole returning 840 metres of 0.72% copper equivalent.
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.
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)2, 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 diametre. High-grade
copper-molybdenum mineralization continues to depths in excess of
1,000 metres.
1 Technical Report on the Mocoa
Copper-Molybdenum Project, Colombia, dated January 17th 2022,
prepared by Michel Rowland Brepsant, FAusIMM,
Robert Sim, P.Geo, and Bruce Davis, FAusIMM.
|
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.
![Libero Copper & Gold Corporation logo (CNW Group/Libero Copper & Gold Corporation.) Libero Copper & Gold Corporation logo (CNW Group/Libero Copper & Gold Corporation.)](https://mma.prnewswire.com/media/1957233/Libero_Copper___Gold_Corporation__LIBERO_COPPER_ENTERS_MUTUAL_BE.jpg)
SOURCE Libero Copper & Gold
Corporation.