Tag: Libero Copper & Gold Corp.

Libero has identified nine new porphyry targets at its 100%-owned Mocoa porphyry Cu project in Colombia, in the immediate vicinity of the current Mocoa deposit. These targets were identified based on the results of detailed airborne magnetic and radiometric surveys completed at the end of 2021, along with recently compiled geochemical data. We view this announcement positively, as we believe management is improving its understanding of Mocoa’s mineralized system. The geophysical and geochemical data suggest to us that Mocoa could be host to a clustered porphyry system, which could provide good potential for further discoveries and resource expansion – two factors we believe are key to a potential re-rating of Libero’s stock price.

Libero announced complete assays from the first diamond drill hole (MD-043) of the Phase 1 (5,000m) drilling program at its 100%-owned Mocoa porphyry Cu project in Colombia. MD-043 returned 0.89% CuEq (0.62% Cu and 0.083% Mo) over 557m with higher-grade sub-intervals. We estimate that MD-043 extended mineralization a further ~300-400m below the existing resource boundary as well as laterally away from hole M25. We believe hole MD-043 should help upgrade the existing ~4.6B lb Cu resource at Mocoa from the inferred to indicated category and could likely improve the resource grade. In our view, upgrading the inferred resources to a higher classification at Mocoa and deposit growth are key to a potential re-rating.