VANCOUVER, BC, March 12, 2025 /CNW/ - Libero Copper & Gold Corporation (TSXV: LBC) (OTCQB: LBCMF) (FRA: 29H) ("Libero Copper" or the "Company") is pleased to announce that hole MD-046 is underway. It is the third hole of its 14,000-metre resource expansion drilling program at the Mocoa porphyry copper-molybdenum deposit in Putumayo, Colombia.
MD-046 is designed to evaluate the continuity of copper and molybdenum mineralization within areas previously modeled as "waste" in the current pit-constrained resource. This step-out hole is built off the strong results of MD-044 and will test mineralized extensions beyond previous drilling, including Mc08DH037 (2008) and MC12DH041A (2021).
"Our team is excited to move eastward with MD–046, building confidence built off MD-044. This step-out hole is a direct response to the consistent zones we've encountered, and it exemplifies our commitment to methodically expand Mocoa's footprint," stated Ian Harris President & CEO, each new metre drilled reaffirms Mocoa's standing as one of Colombia's most significant copper-molybdenum systems."
Hole MD-046
Libero Copper continues to advance its 14,000-metre resource expansion drilling program at the Mocoa porphyry deposit with the start of hole MD-046, the third hole of the campaign and a key step-out to the east. As of March 12, 2025, MD-046 has reached a depth of 650 metres and is currently advancing beyond this point. MD-046 is strategically designed to extend mineralization beyond previously drilled areas (figure 1) and assess the continuity of the deposit within the pit-constrained resource model. Positioned at an azimuth of 40 degrees with a -65-degree dip, this step-out hole targets areas at depth and laterally, including zones previously modeled as waste. It is the first hole designed to drilled test the copper and molybdenum grades in the East valley (figure 2).
Hole
Easting
Northing
Elevation
Planned depth
Azimuth
Dip
MD-046
313831
137655
1673
1,000m
40
-65
Table 1. Collar and design information of drill hole MD-046 at Mocoa. Coordinates are UTM system, zone 18N and WGS84 projection.
This eastern expansion is a critical component of Libero Copper's resource growth strategy, aiming to unlock additional copper-molybdenum potential and further define the scale of the Mocoa deposit. Results from MD-046, along with recent released results from holes MD-044 (refer to news release dated January 6, 2025) and MD-045 (refer to new release dated February 26, 2025), will contribute to defining the scale and continuity of the Mocoa porphyry deposit.
Figure 1. Plan view of MD-046 and the pit outline projected on topography. Coordinates are UTM system, zone 18N and WGS84 projection. (CNW Group/Libero Copper & Gold Corporation)
The first 90 meters of MD-046 intersected a strongly argillized dacite porphyry with multiple generations of D-veinlets, locally altered to iron oxides. Below this depth, the hole intercepted an early potassic-altered (K-feldspar) porphyry, hosting well-developed A-type veinlets and disseminated chalcopyrite and molybdenite mineralization. As drilling continues, MD-046 is advancing through an intermineral porphyry unit, locally brecciated, exhibiting strong sericite alteration. This unit contains multiple C-type (chalcopyrite-dominant) veinlets cross-cutting earlier B-type (molybdenite-dominant) veinlets, indicating a prolonged and complex mineralizing event. MD-046 is advancing beyond the conceptual resource pit depth and continues to intersect mineralization, with visible chalcopyrite and molybdenite. This is particularly significant as MD-046 represents the first step-out to the East into areas previously modeled as waste.
Figure 2. Cross-section along the hole MD-046 with a projection influence of 50m. (CNW Group/Libero Copper & Gold Corporation)
Qualified Person and Technical Notes
Edwin Naranjo Sierra, Exploration Manager of Libero Copper, is the designated Qualified Person within the meaning of National Instrument 43-101 and has reviewed and verified the technical information in this news release. Mr. Naranjo holds a MSc. in Earth Sciences and is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM).
*Copper equivalent (CuEq) for drill hole interceptions is calculated as: CuEq (%) = Cu (%) + 4.2 × Mo (%), utilizing metal prices of Cu - US$4.00/lb, Mo - US$20.00/lb. Metal recoveries utilized for the resource model are 90% for Cu and 75% for Mo.
Mineralized zones at Mocoa are bulk porphyry-style zones and drilled widths are interpreted to be very close to true widths.
Libero Copper operates according to a rigorous Quality Assurance and Quality Control (QA/QC) protocol consistent with industry best practices. Core diameter is a mix of HQ and NQ depending on the depth of the drill hole. Diamond drill core boxes were photographed, sawed, sampled and tagged in maximum 2-metre intervals, stopping in geological boundaries. Samples were bagged, tagged and packaged for shipment by truck from Libero Copper's core logging facilities in Mocoa, Colombia to the Actlabs certified sample preparation facility in Medellin, Colombia. ActLabs is an accredited laboratory independent of the Company. Samples are processed in the Medellin facilities where they are analyzed for copper and molybdenum by 4-Acid digest Atomic Absorption (AA) analysis. The sample pulps are air freighted from Medellin to the ActLabs certified laboratory in Guadalajara, Mexico, where they are analyzed for a suite of 57 elements using 4-Acid digest and ICP-MS. In order to monitor the ongoing quality of assay data and the database, Libero Copper has implemented QA/QC protocols which include standard sampling methodologies, the insertion of certified copper and molybdenum standard materials, blanks, duplicates (field, preparation and analysis) randomly inserted into the sampling sequence. QA/QC program also include the ongoing monitoring of data entry, QA/QC reporting and data validation. No material QA/QC issues have been identified with respect to sample collection, security and assaying.
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 through titles and applications, 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 B2Gold subsequently executed diamond drill programs in 2008 and 2012.
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 Central 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, San Carlos, Panantza and Solaris' Warintza. 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.
Libero Copper is led by a team with rare experience—having advanced projects from post-resource discovery to the path of construction, including some of the few large copper projects built in the last 20 years. This real-world expertise drives Libero Copper's focus on relationships, responsibility, trust, and a relentless commitment to sustainable progress.
At the core of Libero Copper's portfolio is the Mocoa copper-molybdenum porphyry deposit in Putumayo, Colombia—a cornerstone asset where the Company is actively drilling. In a market increasingly hungry for new copper supply, Libero is focused on systematically expanding and de-risking Mocoa's resource base.
Now, with the Fiore Group's bold company-building vision behind it, Libero Copper is uniquely positioned to fill a crucial gap in the copper industry—advancing large-scale projects toward construction. Through this approach, Libero Copper is committed to creating lasting value for all stakeholders while positioning itself at the forefront of meeting the growing global demand for copper—the metal driving progress in the modern economy.
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, including statements regarding the anticipated drilling results of MD-046, the outcome of the Company's current resource expansion strategy; other activities and achievements of the Company, including but not limited to: the timing and success for the advancement of the Mocoa Project, the expansion of the Mocoa resource base; 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 and volatility with the Company's common shares, exploitation and exploration successes, uncertainty of reserve and resource estimates, risks of not achieving production, continued availability of capital and financing, processes, permits and filing requirements, risks related to operations in foreign and developing countries and compliance with foreign laws and including risks related to changes in foreign laws and changing policies related to mining and local ownership requirements in Colombia, and general economic, market, political or business conditions and regulatory and administrative approvals. 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
