Early results from Libero Copper & Gold’s (TSXV: LBC) ongoing drill program at the Mocoa property appear to be positive. The firm is currently undertaking a five hole, 5,000 metre drill program at the copper-molybdenum project as it looks to test the extent of the deposit.
The first hole under the program, MD-043, has now been completed after being drilled to a depth of 1,235 metres. Partial assays have been received from the hole, with the assays consisting of the first 450 metres of the hole.
Highlights from the results include:
- 443 metres of 0.48% copper and 0.078% molybdenum from a depth of 7 metres through to 450 metres
- 342 metres of 0.60% copper and 0.093% molybdenum from a depth of 108 metres through to 450 metres
- 251 metres of 0.75% copper and 0.114% molybdenum from a depth of 139 metres through to 390 metres
Further copper and molybdenum mineralization are said to have been intersected in the remaining portion of the hole that has yet to be received from the lab. 785 metres of core remains pending from the current hole.
The system as a whole is said to remain open, with other targets now identified for further drilling. The project notably is said to contain the largest copper resource within Colombia, with an open-pit model resource containing inferred resources of 4.6 billion pounds of copper and 511 pounds of molybdenum at 0.33% copper and 0.036% molybdenum, respectively. The deposit is said to remain open along strike and at depth.
Libero Copper last traded at $0.72 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
