Extensive Drill Program Aims to Unlock New Copper and Molybdenum Zones in Southern Colombia

Source: Streetwise Reports 11/12/2024

Libero Copper and Gold Corp. (LBC:TSX.V; LBCMF:OTCQB) announced the progress and objectives of its 14,000-metre exploration program at the Mocoa porphyry copper-molybdenum project in southern Colombia. Read more to discover how this ambitious program targets high-grade copper and molybdenum zones.

Libero Copper and Gold Corp. (LBC:TSX.V; LBCMF:OTCQB) has announced the progress and objectives of its 14,000-metre exploration program at the Mocoa porphyry copper-molybdenum project in southern Colombia. The initiative is part of Libero Copper’s broader effort to enhance resource estimates and geological understanding at the Mocoa deposit, located in the prolific Jurassic Copper Belt. The exploration program aims to confirm and expand high-grade copper and molybdenum zones across the deposit.

Since commencing operations, Libero Copper has drilled approximately 2000 meters across the Mocoa project. The project spans a 1,000-metre north-south strike length and a 600-metre width, reaching depths of 900 metres. The current drilling plan builds on two years of fieldwork, geological modeling, and soil geochemical analysis. The emphasis is on high-potential areas like Silencio, Neblina, and Piedralisa, where soil anomalies suggest further mineralization potential.

According to Ian Harris, President and CEO, in the news release, “This program, adding 50% more drilling than all previous work at Mocoa, is a major step forward for the project.”

To optimize environmental and logistical efficiencies, Libero Copper is utilizing existing drill pads and implementing a rainwater collection system, reducing reliance on external water sources. This program also includes measures to confirm high-grade cores’ continuity while exploring additional mineralized zones. The latest drill hole, MD-044, has reached 615 meters and is expected to reach a target depth of 1,200 meters to further assess high-grade mineralization to the northeast of Mocoa.

The Allure of Copper

On October 18, Jeffrey Christian of CPM Group projected a strong outlook for copper prices in both the short and long term. Christian noted that while copper supply had kept pace with demand, prices had remained resilient and were likely to see substantial gains by 2025 and 2026. He attributed this anticipated growth to increased investments in copper-intensive sectors, especially those related to the energy transition, which CPM Group expected would demand significant copper resources over the next decade.

Technical analyst Clive Maund wrote,”After a period of basing, Libero Copper has begun a new uptrend, so the correction now in progress due to the re-emergence of a “risk-on” environment thanks to Trump’s victory is viewed as throwing up a buying opportunity.”

In an October 25 report, Mining Weekly highlighted Goldman Sachs’ forecast for copper. Goldman Sachs had anticipated that China’s recent stimulus measures would support elevated copper prices into 2025.

Goldman raised its average price outlook for copper to US$10,160 per ton for 2025, citing increased Chinese demand in response to government-led economic recovery programs.

The investment bank further stated, “The estimated China GDP boost to prices is significantly larger for metals than for oil and coal.” This statement underscored the significant role of metals, including copper, in China’s economic policies.

On October 28, USA Today reported that copper traded at US$4.36 per pound, reflecting a 12.03% increase year-to-date. This growth highlighted copper’s essential role across various sectors like electrical wiring, construction, and electric vehicles. According to USA Today, global copper demand has been driven by multiple factors, including the clean energy transition and continued economic activity in China, which remains one of the world’s largest copper consumers.

What Is Driving Libero?

Libero Copper’s extensive exploration program at Mocoa highlights its strategic commitment to establishing the project as a significant copper resource within Colombia’s Jurassic Copper Belt.

As outlined in the company’s investor presentation, the 14,000-metre program is designed to achieve resource expansion while advancing its geological understanding. This is supported by over two years of groundwork and advanced field techniques. The company’s focused approach in regions like Silencio, Neblina, and Piedralisa reflects promising early indicators of additional mineralization. These could suggest the potential for new discoveries outside the primary deposit area.

Important Disclosures:

1. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Libero Copper & Gold Corp.
2. James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
3. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

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( Companies Mentioned: LBC:TSX.V; LBCMF:OTCQB, )

Source: https://www.streetwisereports.com/article/2024/11/12/extensive-drill-program-aims-to-unlock-new-copper-and-molybdenum-zones-in-southern-colombia.html