Copper Giant Resources (TSXV: CGNT) has classified the first indicated resource at its Mocoa copper-molybdenum porphyry project in southern Colombia, upgrading 290 million tonnes to the higher confidence category while expanding the inferred resource to 1.6 billion tonnes.
The estimate, prepared by APEX Geoscience with an effective date of September 24, 2026, breaks down as follows:
- Indicated resources of 290 million tonnes grading 0.54% copper equivalent (0.33% copper and 0.038% molybdenum)
- Containing 2.13 billion pounds copper and 240 million pounds molybdenum
- Inferred resources of 1.60 billion tonnes grading 0.40% copper equivalent (0.27% copper and 0.025% molybdenum)
- Containing 9.36 billion pounds copper and 890 million pounds molybdenum
The inferred figure also includes the project’s first resource below the pit. That portion totals 120 million tonnes grading 0.48% copper equivalent (0.34% copper and 0.025% molybdenum), contains 900 million pounds of copper, and is reported within potential block-cave shapes at a 0.40% cut-off.
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Total contained copper is up roughly 50% from the November 2025 estimate, which reported 1.12 billion inferred tonnes grading 0.51% copper equivalent and holding 7.6 billion pounds of copper. Much of the added tonnage comes from a lower cut-off of 0.15% copper equivalent, a larger pit shell and a switch to diluted reporting. At the 0.25% cut-off used last year, contained copper within the pit rose 23%, while the inferred grade slipped to 0.45% copper equivalent from 0.51%.
“Mocoa is now both better defined and larger than it was a year ago, and the PEA, on plan for this quarter, is the first look at how that scale becomes a development project,” said President and CEO Ian Harris.
The update includes 8,546 metres drilled since the prior estimate, while another 10,000 metres completed after the data cut-off are not yet reflected in the estimate.
Mocoa is hosted in Middle Jurassic dacite and quartz-diorite porphyries, with mineralization made up mainly of disseminated chalcopyrite and molybdenite. The system shows more than 1,100 metres of vertical continuity and remains open in several directions. The pit shell and the underground shapes below it lie entirely outside any forestry reserve or community.
A preliminary economic assessment built on the new estimate is due in the fourth quarter of 2026.
Copper Giant Resources last traded at $1.05 on the TSX Venture.
