LBC Libero Copper & Gold Corporation

VANCOUVER, BC, Jan. 13, 2025 /CNW/ - Libero Copper & Gold Corporation (TSXV: LBC) (OTCQB: LBCMF) (FRA: 29H) ("Libero Copper" or the "Company") is pleased to announce the start of hole MD-045, the second hole of its 14,000-metre resource expansion drilling program designed to strategically connect and expand high-grade zones at the Mocoa porphyry copper-molybdenum deposit in Putumayo, Colombia.

Highlights

• Strategic Focus: MD-045 is designed to evaluate the structural controls of the western-trending brecciation (Phase 3), which has shown potential for significant mineralization at Mocoa. This hole is to test extension further south and continuation at depth.
  
  
• Western Expansion Unlocked: The clarification of the forestry reserve boundary has reprioritized western expansion potential, increasing its probability and strategic significance within the 14,000-metre drill program.
  
  
• Foundation for Growth: Both MD-044 and MD-045 provide critical insights into structural controls, forming the foundation to de-risk and optimize Mocoa's aggressive resource expansion strategy.
  
  
• Progress Update: MD-045 has reached 250 metres of its planned 1,200-metre target depth.

"MD-044 provided the critical insights we needed to de-risk our resource expansion strategy, and we're confident MD-045 will further solidify Mocoa's potential as a world-class copper-molybdenum deposit," stated Ian Harris, President & CEO of Libero Copper. "The recent clarification of the forestry reserve boundary provides opportunities to explore the western area, where promising mineralization controls have been identified. By focusing on structural understanding and resource optimization, we're not just advancing Mocoa—we're laying the groundwork for long-term success. This deposit continues to exceed our expectations with its near-surface, high-grade copper-molybdenum mineralization extending to significant depths, and we're just beginning to uncover its true potential."

Hole MD-045

The drilling campaign continues to advance with the start of MD-045, the second hole of the 14,000-metre resource expansion drilling program at the Mocoa porphyry deposit. As at January 13, 2025, the hole has reached a depth of 250 metres towards its target depth. MD-045 is designed with a target depth of 1,200m, oriented with 258 degrees in azimuth and a dip of -60 degrees.

Table 1. Collar and design information of drill hole MD-045 at Mocoa. Coordinates are UTM system, zone 18N and WGS84 projection.

MD-045 is strategically designed to test the continuity of the western-trending brecciation stage three, one of the most productive mineralization phases identified at Mocoa to date. While MD-043 previously intersected this zone, it exited the phase toward the end of the hole. MD-045 aims to refine understanding of this critical phase by testing its extension further south and at depth, where the potential feeder zone may reside.

The potential for resource expansion to the west of the known mineral resource at Mocoa has been significantly de-risked following the clarification of the Forestry Reserve boundary by Colombian authorities (refer to the news release dated November 12, 2024). This clarification has unlocked new opportunities for expansion and elevated the western extension's importance within the overall drilling program.

Brecciation stage three, which controls the western high-grade core zone, is directly associated with the highest copper and molybdenum grades observed at Mocoa. It is characterized by potassic (K-feldspar) altered hydrothermal breccia, with quartz, chalcopyrite, and molybdenite as matrix infill, along with multiple fragments of early quartz diorite and dacite porphyries. 3D modeling of this hydrothermal breccia indicates a mineralized NNW-trending corridor measuring approximately 1,500 metres in length, 225 metres in width, and 1,000 metres in depth.

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) and the Society of Economic Geologist.

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.

¹ For further information refer to National Instrument 43-101 – Standards of Disclosure for Mineral Projects Technical Report, entitled "Technical Report on the Mocoa Copper-Molybdenum Project, Colombia", dated January 17, 2022, prepared by Michael Rowland Brepsant, FAusIMM, Robert Sim, P.Geo, and Bruce Davis, FAusIMM. with an effective date of November 01, 2021.

About Libero Copper

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. Mocoa stands as a cornerstone asset with immense potential for expansion.

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 anticipated drilling and expected results, the resulting other activities and achievements of the Company, including but are not limited to: the potential for the Mocoa Project resource estimate to expand in size, the belief that all necessary permits are currently in place for the initial phase of the Mocoa Project, and the timing and success for the advancement of the Mocoa Project, 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.

SOURCE Libero Copper & Gold Corporation