District-scale copper opportunity in Colombia

Libero Copper & Gold Corp. (TSX-V: LBC)(OTC: LBCMF) — currently trading around C$0.35 per share in the 2024 copper bull market — is advancing the resource-stage, ~100,000-hectare Mocoa copper-molybdenum porphyry deposit in Putumayo, Colombia. 

The Mocoa deposit is situated in the Eastern Cordillera of Colombia, a 30-km-wide Jurassic belt (Andes Belt) underlain by volcano-sedimentary, sedimentary, and intrusive rocks highlighted by abundant copper-dominant mineralization across wide swaths of the belt.

why colombia map details

The prolific Andes Belt, sections of which run north-south through Colombia and Ecuador (see above), hosts 12 of the 20 largest copper mines in the world.

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The Mocoa deposit itself, while still in the early exploration phase, contains an Inferred resource of 636 million tonnes at 0.45% copper equivalent (0.33% Cu and 0.036% Mo), generated using US$3/lb Cu and US$10/lb Mo, containing 4.6 billion pounds of copper and 511 million pounds of molybdenum.

Importantly, copper is currently trading around US$4.40/lb, and molybdenum is currently trading north of US$30/lb.

Libero copper project details

Libero is advancing the Mocoa project — which is considered the largest undeveloped copper resource in Colombia and one of the world’s largest undeveloped molybdenum deposits — via a highly disciplined approach and seasoned geologic team with a successful track record of discovery, resource development, and permitting in Colombia. 

With a ton of in-country experience under its collective belt, the Libero team is highly focused on building relationships, locally, regionally, and nationally, which should prove instrumental in the company’s forthcoming 2024-25 exploration agenda at Mocoa. 

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To that end, the company just announced an approved Territorial Development Plan for the Municipality of Mocoa, Department of Putumayo, for the period 2024-2027.    

Libero Copper & Gold CEO Ian Harris — whom you’re about to hear from directly in our exclusive interview coming right up — commented on the key milestone via press release:

“Achieving this milestone of the approved development plan for Mocoa, including a section on mining and energy, is a testament to the inclusion of the community's needs, aspirations, and feedback shaping the final document. It also highlights the leadership and vision of the Mayor and the Municipal Council of Mocoa, recognizing the important role the responsible and sustainable development of critical mineral projects can have in the positive economic development of Mocoa. We look forward to continuing to work together to maximize the benefits of this project while ensuring environmental and social stewardship.” 

The Libero team drilled a single confirmation hole into the project in 2021, which returned 1,200 meters at approximately 0.60% copper-equivalent (0.42% copper and 0.047% molybdenum), including over 250 meters at over 1% Cu-Eq. That drill rig remains onsite.

The hole chimed in as one of the ten best holes in the world (see below) on a copper-only basis.

ranked chart

The image below shows historical drilling at the Mocoa copper-molybdenum porphyry deposit, which was completed along a single ridgeline. 

Mocoa project map

Importantly, these types of porphyry-style deposits tend to form in clusters. And, at the direction of the company’s highly-adept geologic team, ongoing fieldwork at Mocoa has  systematically identified an additional 8-plus porphyry targets warranting follow-up exploration.    

Libero Copper & Gold is well-structured with ~48.4 million shares outstanding (~75 million fully-diluted) for a current non-fully-diluted market cap of ~C$18.5 million. The company is also well-funded with ~C$5M in the treasury as of 12 March 2024. 

Key shareholders include well-known mining financier and philanthropist Frank Giustra who currently holds an approximate 10% stake in the company and who will be assisting the LBC team in guiding the ongoing advancement of the flagship project.

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As promised, our own Gerardo Del Real of Junior Resource Monthly caught up with Libero Copper & Gold CEO Ian Harris to discuss the deposit, the team, and next-steps in unlocking the vast mineral potential of the district-scale Mocoa copper-molybdenum project in the 2024 copper bull market. Please enjoy! 

For more information on Vancouver-based Libero Copper & Gold Corp., please contact the company’s IR department at 604-715-6845 or via email at info@liberocopper.com.

Visit the Libero Copper & Gold corporate website and sign up to receive updates directly from the company here

Yours in profits,

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest

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