Libero Copper (TSXV:LBC) recently announced details of its ongoing 14,000-metre exploration program at the Mocoa porphyry copper-molybdenum project in Putumayo, Colombia. Situated within Colombia’s Jurassic Copper Belt, the Mocoa project represents Libero Copper’s flagship asset. The current program aims to expand the resource, increase geological understanding, and test newly identified areas, signaling a significant step in advancing the Mocoa project.

14,000-Metre Drill Program Overview

The core of Libero Copper’s exploration strategy at Mocoa includes a robust drill plan intended to clarify the high-grade copper and molybdenum distribution while potentially enlarging the resource through both infill and step-out drilling. This comprehensive initiative not only targets refining insights into the mineral deposit but also aims to assess new areas like Piedralisa and Neblina for additional resource potential. These high-priority zones were selected based on recent airborne geophysical surveys and fieldwork, which revealed soil anomalies for copper, molybdenum, zinc, and lead.

The multi-pronged approach combines infill drilling to confirm high-grade zones within wide-spaced drilling areas and step-out drilling to investigate the deposit’s potential for expansion. The project integrates geological, geophysical, and geochemical data collected over recent years to shape a coherent strategy for Mocoa. The company’s previous work on this site included extensive drilling that mapped a strike length of over 1,000 meters, covering a width of 600 meters and depths reaching 900 meters. With new drill holes planned to extend and verify high-grade zones, Libero Copper aims to deepen its understanding of the deposit’s core and test previously uncharted regions.

Expansion of Mocoa System

As the program progresses, Libero Copper has focused its efforts on confirming the extent of high-grade copper and molybdenum cores in the Mocoa system. The 14,000 meters of planned drilling will play a key role in this, drawing on a geological model updated through extensive relogging and fieldwork that has spanned several years. This drilling plan reflects Libero Copper’s emphasis on understanding the alteration and lithologies of the deposit in greater detail. Approximately 8,126 meters of previous drilling data have been re-evaluated to inform this updated model, based on samples collected from 2008 through 2022.

The Mocoa project’s historical drilling has intercepted high-grade copper and molybdenum cores across the deposit, though with wide spacing between drill holes. To address this, the current program’s infill drilling is designed to improve the grade distribution data in these wide-spacing areas, as well as test deeper portions of the porphyry system beneath the initial inferred mineral resource estimate. The goal is to confirm the high-grade cores and explore resource expansion in multiple directions, with a particular focus on extending the mineral resource boundary to the north and northeast, where mineralization is projected to continue.

Step-Out Drilling Strategy

Step-out drilling forms another essential aspect of the Mocoa program, intended to expand the overall mineral resource to the north and northeast. This portion of the project will explore additional mineralization that could extend beyond the current resource boundaries, potentially boosting the size and quality of the deposit. By following the identified plunge of high-grade cores, this drilling effort aims to establish a clearer understanding of the deposit’s full extent.

Libero Copper has also taken measures to mitigate the environmental impact of these operations by utilizing existing drill pads. This approach reduces surface disturbance, supporting the project’s commitment to preserving the surrounding ecosystem. Additionally, the installation of a rainwater collection system ensures water self-sufficiency for drilling, consumption, and sanitation needs. This setup not only secures a steady water supply but also eliminates reliance on external sources, aligning with the company’s commitment to sustainable resource use.

Progress on MD-044 Drill Hole

The MD-044 drill hole marks the first in the series of planned drills under this 14,000-meter program. As of November 5, 2024, the drill has reached a depth of 615 meters, with a target depth of 1,200 meters. This hole aims to assess the continuity of high-grade mineralization extending northeast of the deposit, probing below the existing inferred resource estimate.

Detailed logging of MD-044 has identified argillic alteration and iron oxides within the upper 100 meters, overlaid with sericite, which supersedes earlier potassic alteration phases. The mineralization observed in this interval includes copper in quartz veinlets with chalcopyrite, chalcocite, and minor bornite, as well as molybdenum in molybdenite-rich B-type veinlets. The logging data suggest a complex interplay of alteration phases and mineralization, with potential implications for understanding the deposit’s structural and geochemical evolution.

Surface Exploration and New Target Areas

Libero Copper’s exploration efforts extend beyond drilling. Surface exploration is set to follow up on the Neblina, Piedralisa, and Silencio areas near the main Mocoa deposit. Detailed mapping and soil sampling will cover these zones over the 2024-2025 season, with specific focus areas that emerged as promising during recent geophysical surveys.

The Neblina zone, located to the north-northeast of Mocoa, consists of two sub-regions—Neblina West and Neblina East. Neblina West, approximately 2 kilometers north of the main deposit, shows magnetic anomalies and demagnetized zones indicative of underlying porphyry systems. Neblina East, situated 3 kilometers northeast of the deposit, has yielded locally elevated molybdenum values. Together, these sub-zones offer strong indications of potential porphyry bodies.

Piedralisa, located 3 kilometers southeast of Mocoa, has shown soil anomalies for zinc, lead, copper, and molybdenum. Previous surface exploration identified outcrops in the area consistent with the upper portions of a porphyry system. A large 3D radial symmetric intrusion interpreted as a porphyry body is also present here, adding to the zone’s prospectivity for hosting additional copper-molybdenum mineralization.

The Silencio zone lies 3 kilometers north of the main Mocoa deposit. Preliminary surveys have shown elevated copper values in soil samples, aligning with magnetic highs and structural features typical of porphyry bodies. The planned soil grid for Silencio will help delineate copper anomalies, guiding further exploration within this promising zone.

Environmental and Logistical Considerations

Throughout the Mocoa exploration program, Libero Copper has emphasized environmental stewardship. By reusing existing drill pads and employing a rainwater collection system, the company has minimized the project’s environmental footprint. The water system, which collects and utilizes rainwater, secures a sustainable supply for drilling and other operational needs, reducing dependence on external water sources.

This environmental approach aligns with the broader objective of minimizing impact while advancing exploration. As the Mocoa program unfolds, Libero Copper aims to balance resource development with sustainability, addressing both operational needs and environmental responsibilities in the resource-intensive industry of mineral exploration.

Libero Copper & Gold (TSXV:LBC) has initiated a resource expansion program at its Mocoa Porphyry Copper-Molybdenum Deposit in Colombia, with significant progress after two years of groundwork. On October 16, 2024, the Vancouver-based company announced the start of drilling with hole MD-044. This hole is part of a broader plan to drill up to 14,000 meters, advancing the Mocoa Project located in Colombia’s Jurassic Copper Belt near the town of Mocoa, Putumayo.

Ian Harris, President and CEO of Libero Copper, highlighted the collaboration with local communities and regional stakeholders in advancing the project in a press release: “The initiation of drilling marks an important milestone for the project—our drills are turning again after several years,” Harris said. The company aims to expand the deposit’s high-grade copper and molybdenum zones, underlining its commitment to sustainable and responsible development.

Resource Expansion Efforts

Libero Copper has been conducting extensive evaluations of the Mocoa deposit, leading to a refined geological model for the site. The resource expansion program includes step-out drilling to confirm extensions of mineralized zones and in-fill drilling to better understand the distribution of copper and molybdenum grades. Airborne geophysics and fieldwork have informed the resource expansion plan, which targets areas believed to hold significant potential for high-grade copper and molybdenum.

The drilling campaign began with hole MD-044, positioned on the same pad as the previous hole MD-043. The company plans for MD-044 to reach a depth of 1,200 meters, oriented north-to-south with a -60-degree dip. This hole will explore the continuity of high-grade zones extending northeast below an initial inferred mineral resource. Previous drilling at the site, such as the notable MD-043, intersected mineralization with grades of 0.58% copper equivalent (CuEq) over 1,228.5 meters, which included an 840.3-meter section at a higher 0.72% CuEq.

The current drilling program will enhance understanding of the site’s geology, focusing on two high-grade zones with distinct directional trends. One zone trends westward, while the other trends northeast, indicating the complexity of the porphyry system at Mocoa. Earlier drilling by B2Gold in 2008 had already highlighted the potential of the high-grade center of the deposit, revealing extensive potassic alteration and quartz veins that suggest a strong copper-molybdenum mineralization system at depth.

Regulatory Compliance and Environmental Measures

Libero Copper has undertaken a comprehensive review to ensure compliance with Colombian regulatory and environmental standards. The company has implemented various measures to minimize its environmental footprint, including an expanded rainwater collection system that reduces reliance on external water sources. Additionally, a greywater capture system has been put in place to manage wastewater, which is then disposed of by an external contractor.

The company has also ensured that drilling operations use existing pads to limit surface disturbance. According to Libero Copper, the regional environmental agency confirmed in September 2024 that the company’s environmental plans did not require further approval, allowing the project to proceed without delay.

The company’s environmental efforts coincide with recent legal developments that have clarified the path forward for the Mocoa Project. In August 2024, Colombia’s Consejo del Estado annulled a 2018 Municipal Accord from the Mocoa Municipal Council that had restricted medium and large-scale mining activities. Although Libero Copper had argued that the 2018 accord was not enforceable, the ruling has removed legal ambiguities, paving the way for the project’s continuation.

Mobilization and Site Preparation

Libero Copper has completed key mobilization activities to support the drilling program. The Mocoa camp is now fully operational, with accommodation facilities for up to 50 personnel and a secured rainwater supply. The company has reopened essential access routes to facilitate movement of equipment and personnel. Among the equipment on-site is the KD-1000 rig, a modular and portable drilling rig capable of reaching depths of over 1,200 meters.

In preparing the camp, the company undertook significant site work, including terrain leveling, clearing, and pruning to ensure safe and efficient access. These efforts have created a stable base for ongoing exploration and resource expansion at Mocoa.

Libero Copper’s current phase of drilling, up to 14,000 meters, forms part of a long-term strategy to realize the Mocoa Project’s potential. The company acknowledges that further permits may be necessary as the project advances, particularly if new drilling pads are required. However, Libero Copper states that it has the required permits in place for this initial phase and will seek additional permits as needed.