VANCOUVER, BC, Dec. 6, 2022
/CNW/ - Libero Copper & Gold
Corporation (TSXV: LBC) (OTCQB: LBCMF) (DE: 29H) is pleased to
announce that, together with the National
University of Colombia
(UNAL), we have extracted metallic copper from pulp from the Mocoa
copper-molybdenum deposit in Colombia. It is the first copper
produced in Colombia from a
deposit in Colombia. Pulps from
Mocoa were taken to the Mineral Institute CIMEX of UNAL, where a
concentrate of copper minerals was produced, and then metallic
copper was extracted. The project was executed under the
framework agreement between Libero
Copper and UNAL.
For more on this project, please see the following video link:
https://youtu.be/ap5sDG_Df2s
"Colombia is moving away from
oil, gas and coal, industries that represent half of the country's
exports, towards a green economy; away from extraction to a model
of production, with transition metals at the base. Copper is
the core to capture, store and transmit these new sources of
energy. This milestone of the first copper production in
Colombia is a testament to our
shared commitment to creating a fully vertically integrated, clean
energy system and a renewed focus on innovation and job creation
within Colombia," comments
Ian Harris, President & CEO.
"Mocoa is the largest copper resource in Colombia and critical to positioning
Colombia as an international
leader in clean energy production. We are working with the
government to create a roadmap for Mocoa through copper production,
with emphasis on the inclusion of national universities and our
communities."
![Photo 1 – Copper extracted from the Mocoa deposit at CIMEX of the National University of Colombia (CNW Group/Libero Copper & Gold Corporation.) Photo 1 – Copper extracted from the Mocoa deposit at CIMEX of the National University of Colombia (CNW Group/Libero Copper & Gold Corporation.)](https://mma.prnewswire.com/media/1962258/Libero_Copper___Gold_Corporation__LIBERO_COPPER_EXTRACTS_COPPER.jpg)
The energy transition and the potential of copper in
Colombia has been a significant
part of the national conversation. Libero Copper has held multiple interviews
nationally, including in prime-time news and the largest printed
press in the country, and continues to provide leadership as a
founding member of the Copper Mining Hub.
In addition, Libero Copper has
held multiple meetings with government officials to help develop a
shared vision on the strategic planning of Colombia focused on energy transition and the
industrial shift to production chains based on strategic metals
that are inclusive, participatory, and knowledge intensive.
Meetings have included the Vice-Minister of Mines, Giovanni
Franco; the Minister of Industry, Commerce and Tourism, German
Umaña; senior advisors to the President of Colombia, and the National Geological Service.
Mr. Franco is a PhD mining and a metallurgical engineer, and
professor at UNAL. Mr. Umaña has been an economics professor at
UNAL since 1980, including times as Vice Director and Dean of the
economics department.
The National University of
Colombia, founded in 1867, has
been at the forefront of academic study and research for more than
one a half-century. It's the leading university in Colombia and one of the most representative in
Latin America. 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 totalling 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.
SOURCE Libero Copper & Gold
Corporation.