Base Metals

Libero Copper & Gold Corporation (TSXV: LBC) (OTCQB: LBCMF) (DE: 29H) is pleased to announce outstanding assay results for the first diamond drill program into the Terry porphyry copper discovery at the Big Red project in BC's Golden Triangle. Drilling has confirmed the presence of a large mineralizing system with nine of the ten holes drilled returned anomalous copper mineralization, over an area exceeding 2.1 kilometres of strike and >500 metres of depth.

2021 Big Red Exploration Highlights

  • First diamond drill program on the Terry Target, 4,571 metres drilled in 10 holes.

  • Nine of the ten drill holes contains anomalous copper mineralization, including multiple intervals of elevated copper ± silver ± gold.

  • New drill highlights

    • 119.5 metres of 0.29% CuEq** (0.25% Cu, 2.26 g/t Ag, 0.02 g/t Au)

    • 8.5 metres of 0.95% CuEq** (0.84% Cu, 5.69 g/t Ag, 0.07 g/t Au)

    • 486.4 metres of 0.17% CuEq** (0.14% Cu, 0.96 g/t Ag, 0.03 g/t Au) from surface, including 112 metres of 0.23% CuEq** (0.19% Cu, 1.25 g/t Ag, 0.04 g/t Au)

  • Completed 46 km 2 airborne magnetic survey and a 1.2 km 2 3D IP grid over the Terry Target

"Following on the discovery of copper porphyry mineralization at Terry in 2020, our 2021 exploration program was designed to test the extent of the mineralizing system and develop vectors that we could use to target high-grade portions of the system. The combination of soil sampling, IP and magnetic geophysical surveys, geological mapping, and 4,500 metres of drilling have created a comprehensive data set that we will continue to advance the project with," comments Ian Harris , President & CEO. "The rarity of new copper porphyry discoveries in British Columbia underscores the importance of advancing of this target. We are encouraged by both the size of the system and the presence of higher-grade zones within wide intervals of mineralization. So far the mineralization we've intercepted has occurred in dyke swarms, but with the new robust data sets we've amassed this season, we intend to vector towards the porphyry centre and higher grade mineralization."

The utilization of diamond drilling in 2021 on the Terry Target allowed for more detailed investigation into the relationships between lithology, mineralization and alteration compared to the RC drilling in 2020. Work has begun to compile and analyze these data to develop geochemical and alteration vectors that can be used to target the source of the dyke swarms (potential porphyry centre) or areas of higher-grade mineralization. The existence of distinct chalcopyrite-rich intrusive phases (2 metres of >1.3% Cu) within the dyke swarms indicates the potential of a high-grade zone of mineralization.

Drill Hole


From (m)

To (m)

Interval (m)

Cu (%)

Ag (g/t)

Au (g/t)

CuEq**(%)

BR-21-028*


8.30

510.00 (EOH)

501.70

0.18

1.23

0.04

0.22

including

8.30

127.00

118.70

0.26

1.83

0.06

0.33

and including

78.20

96.81

18.61

0.42

3.03

0.14

0.56

including

278.50

306.50

28.00

0.33

1.47

0.04

0.38

including

478.00

510.00 (EOH)

32.00

0.30

1.76

0.06

0.36

BR-21-029


7.34

480.60 (EOH)

473.26

0.10

0.68

0.02

0.12

including

7.34

76.00

68.66

0.24

1.72

0.03

0.28

BR-21-030


6.18

378.60 (EOH)

372.42

0.07

0.76

0.01

0.09

including

6.18

53.50

47.32

0.15

1.65

0.01

0.17

BR-21-031


abandoned hole

BR-21-032


41.70

438.00 (EOH)

396.30

0.04

0.40

0.04

0.07

including

41.70

85.33

43.63

0.15

0.98

0.02

0.18

BR-21-033


9.00

495.40 (EOH)

486.40

0.14

0.96

0.03

0.17

including

9.00

79.15

70.15

0.15

1.35

0.05

0.20

and

230.10

342.15

112.05

0.19

1.25

0.04

0.23

and

401.40

495.40 (EOH)

94.00

0.16

1.02

0.03

0.19

and including

440.00

495.40 (EOH)

55.40

0.17

1.45

0.04

0.22

BR-21-034


6.00

571.60 (EOH)

565.60

0.10

0.73

0.02

0.12

including

6.00

41.00

35.00

0.17

1.71

0.03

0.21


177.00

181.50

4.50

0.64

4.40

0.05

0.72

BR-21-035


10.50

399.30 (EOH)

388.80

0.15

0.58

0.01

0.16

including

49.00

83.50

34.50

0.19

1.39

0.02

0.22

and

152.50

399.30 (EOH)

147.00

0.23

0.74

0.02

0.25

and including

180.00

299.50

119.50

0.25

2.26

0.02

0.29

and including

201.00

216.00

15.00

0.43

1.90

0.04

0.48

and including

279.00

287.50

8.50

0.84

5.69

0.07

0.95

BR-21-036


no significant results

BR-21-037


83.60

509.60 (EOH)

426.00

0.09

0.16

0.04

0.12

including

236.00

273.50

37.50

0.17

0.54

0.08

0.24

BR-21-038


16.08

391.80 (EOH)

375.72

0.06

0.11

0.02

0.08

Table 1: Select intervals from drill holes BR-021-028 to -038 located at the Terry and adjacent Scorcher target.
*Previously released results ( October 26, 2021 ). **The prices used to calculate CuEq are: Cu: $3.50 /lb, Au: $1,850 /oz, Ag: $25 /oz. All values are reported in USD and do not consider metal recoveries due to insufficient metallurgical data.

The Terry porphyry copper-gold target was discovered in 2020 after reconnaissance scale sampling revealed high-grade copper and anomalous gold values extending over a kilometre wide area. This outcropping target consists of a megacrystic porphyritic feldspar dyke swarm intruding plagioclase-phyric intermediate composition volcanic rocks.

Drilling the Terry discovery has revealed large multi-phase K-feldspar rich intrusions with intense potassic alteration (flooding), Fe-oxide staining (hematite reddening), abundant chlorite after biotite alteration, and garnet replacement zones and veins. Silicification is rare, and the sulfide and hypogene Fe-oxide assemblages indicate high-oxidation state magmatic-hydrothermal conditions. Chalcopyrite and pyrite mineralization occurs as fine disseminations within porphyritic dykes and host volcanic rocks, with higher concentrations along the margins of dykes. Malachite mineralization occurs near-surface locally along fracture surfaces.

The rock textures, alteration styles and geological setting at Terry share similarities with British Columbia alkalic porphyry deposits, including Galore Creek located 70 km to the south.  Geologic modelling in 3D will support target recognition in this context and the delineation of new drill targets.  Future drill campaigns will target high-grade zones in order to better understand their controls and develop vectors to additional high-tenor copper domains.

Soil sampling at the Terry discovery outlines an extensive zone of copper enrichment, with numerous multi-sample anomalies in excess of 0.1% Cu (Figure 1). The final drill hole of the season was oriented to test newly identified copper mineralization at the Scorcher discovery and the associated overlying soil anomaly. This potential second porphyry centre is located 2 km southeast of the Terry target.

Hole ID

Target

Status

Dip

Azimuth

Final Depth (m)

BR-21-028

Terry

Completed

-50

180

510

BR-21-029

Terry

Completed

-60

235

481

BR-21-030

Terry

Completed

-50

045

379

BR-21-031

Terry

Abandoned

-50

120

22

BR-21-032

Terry

Completed

-60

120

438

BR-21-033

Terry

Completed

-50

200

495

BR-21-034

Terry

Completed

-60

165

572

BR-21-035

Terry

Completed

-50

107

399

BR-21-036

Limpoke Pluton

Completed

-45

200

567

BR-21-037

Terry

Completed

-55

014

509

BR-21-038

Scorcher

Completed

-55

250

392

Table 2: Summary of 2021 drill holes on the Big Red property.

Quality Assurance

The sampling program was undertaken under the direction of Dr. Thomas Mumford , P.Geo. All sample assay results have been monitored through a quality control / quality assurance (QA/QC) program including the insertion of blind standards, coarse blanks, and duplicate samples. Monitoring of the QA/QC program has determined that the analytical results are of acceptable quality. Assay samples are securely transported to ALS Global's sample preparation facilities in Terrace, BC and Langley, BC . Sample pulps are analyzed in North Vancouver, British Columbia for gold by fire assay using a 30-gram charge with atomic absorption spectroscopy (AAS) finish. Samples which exceed 9 g/t gold trigger a 30-gram fire assay with a gravimetric finish. Copper and silver contents are determined by four-acid digestion with ICP-AES finish. ALS Global is an independent laboratory. Libero Copper is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data.

About Big Red

Big Red is a 26,000-hectare district scale land package with both copper and gold targets, road access, and an airstrip. Big Red is located 45 kilometres southwest of Telegraph Creek along the Barrington Road, 70 kilometres north of Galore Creek, and 70 kilometres northwest of Schaft Creek in the Golden Triangle of northwestern British Columbia, Canada . The Golden Triangle is a mining district of prodigious gold and copper mineralization and host to some of Canada's most famous mines (Premier, Red Chris , Snip, Brucejack, Eskay Creek ) and porphyry copper deposits (Galore Creek, Schaft Creek, KSM, Saddle).

At Big Red, the Terry porphyry copper target is peripheral to a distinct large magnetic-high feature over the Limpoke Pluton that coincides with a radiometric potassium anomaly, magnetic low, conductivity high, copper, gold, silver and molybdenum anomalies and a mapped Jurassic aged porphyry intrusion. The discovery hole drilled in Terry in October 2020 returned 120 metres of 0.41% copper equivalent* from surface to end of hole including 73 metres of 0.49% copper equivalent* from surface. Mineralization is associated with a porphyritic dyke swarm hosted in intermediate volcanic rocks. Chalcopyrite mineralization occurs as fine disseminations within the porphyritic dykes and volcanic host rocks, with higher concentrations along the margins. The rock textures, alteration styles and geological setting at Terry share similarities with British Columbia alkalic porphyry deposits, including Galore Creek located 70 kilometres to the south. The discovery is located just 8 km from road access at an elevation of 700 metres with relatively low snowfall.  The Big Red camp has both road access and an airstrip.

About Libero Copper & Gold

Libero Copper is unlocking the value of a collection of porphyry copper deposits throughout the Americas in prolific and stable jurisdictions. The portfolio includes Big Red (a new grassroots discovery) and Big Bulk in the Golden Triangle, Canada ; Esperanza in San Juan, Argentina ; and Mocoa in Putumayo, Colombia . These assets are advanced by a highly disciplined and seasoned professional team with successful track records of discovery, resource development, and permitting in the Americas.

Thomas Mumford , Ph.D., P.Geo, a qualified person under National Instrument 43-101, has reviewed the technical information contained in this news release on behalf of Libero Copper .

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, are to be considered forward looking. Although the Company 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, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions and regulatory and administrative approvals, processes and filing requirements. 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.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2022/27/c3756.html

News Provided by Canada Newswire via QuoteMedia

LBC:CA
LIBERO Copper CLOSES $8,300,000 FINANCING AND APPOINTS MICHAEL SUNUNU DIRECTOR

LIBERO Copper CLOSES $8,300,000 FINANCING AND APPOINTS MICHAEL SUNUNU DIRECTOR

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

Libero Copper & Gold Corporation (TSXV: LBC) (OTCQB: LBCMF) (DE: 29H) (" Libero Copper ") is pleased to announce that it has closed the final tranche of its previously announced non-brokered private placement (the " Offering ") by issuing 7,000,000 units (" Units ") at a price of $0.50 per Unit for gross proceeds of $3,500,000 . Together with the first tranche of the Offering (see news release dated December 2, 2021 ), and second tranche of the offering (see news release dated December 22, 2021 ) Libero Copper has received total gross proceeds of $8,300,000 .

Keep reading... Show less
Anglo Asian Mining plc - Strategic investment in Libero Copper & Gold Corporation

Anglo Asian Mining plc - Strategic investment in Libero Copper & Gold Corporation

Anglo Asian Mining plc (" Anglo Asian "), an AIM listed gold, copper and silver producer primarily focused in Azerbaijan (AIM: AAZ) and Libero Copper & Gold Corporation (" Libero "), a copper exploration company headquartered at Suite 905 1111 West Hastings Street, Vancouver BC V6E 2J3 (TSXV: LBC) announce today that Anglo Asian has increased its stake in Libero to approximately 27.07% in the issued and outstanding common shares of Libero on a fully diluted basis by subscribing for 7,000,000 units (each, a " Unit ") of Libero at a purchase price of $0.50 per Unit for gross proceeds of $3,500,000 to Libero. Each unit comprises of one common share of Libero (a " Common Share ") and one half common share purchase warrant of Libero with an exercise price of $0.75 (a " Warrant " and all of the foregoing being, the " Subscription ").

Anglo Asian owned 5,600,000 common shares of the Issuer and 2,800,000 common share purchase warrants of the Issuer prior to the Subscription. Following the Subscription, it is now the beneficial owner of 12,600,000 Common Shares and 6,300,000 Warrants, which together represent approximately 27.07% of the issued and outstanding common shares of the Issuer on a fully diluted basis.

Keep reading... Show less
LIBERO COPPER SIGNS EXPLORATION DRILLING CONTRACT FOR THE MOCOA PORPHYRY COPPER-MOLYBDENUM PROJECT IN COLOMBIA

LIBERO COPPER SIGNS EXPLORATION DRILLING CONTRACT FOR THE MOCOA PORPHYRY COPPER-MOLYBDENUM PROJECT IN COLOMBIA

Libero Copper & Gold Corporation (TSXV: LBC) (OTCQB: LBCMF) (DE: 29H) is pleased to announce signing of an exploration drilling contract with Kluane Colombia, S.A.S., a subsidiary of Kluane Drilling Ltd. (Kluane), for a minimum of 5,000 metres of drilling at the Mocoa Porphyry Copper-Molybdenum Deposit in Colombia.   A KD-1000 drill (a proprietary build of Kluane) is currently being mobilized.  The KD-1000 is modular and highly portable and can reach depths over 1,200 metres.

Keep reading... Show less
LIBERO COPPER INTERCEPTS 97 METRES OF 0.34% COPPER EQUIVALENT AT BIG BULK

LIBERO COPPER INTERCEPTS 97 METRES OF 0.34% COPPER EQUIVALENT AT BIG BULK

Libero Copper & Gold Corporation (TSXV: LBC) (OTCQB: LBCMF) (DE: 29H) is pleased to report assay results for the five hole, 1,743 metre drill program at the Big Bulk porphyry copper project in British Columbia's Golden Triangle. Results suggest the presence of a large mineralizing system, with new drill results confirming a greater than two kilometre strike length.

Big Bulk Highlights

Keep reading... Show less
LIBERO COPPER UPSIZES FINANCING TO $8.3 MILLION AND ANNOUNCES CLOSING OF SECOND TRANCHE

LIBERO COPPER UPSIZES FINANCING TO $8.3 MILLION AND ANNOUNCES CLOSING OF SECOND TRANCHE

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

Libero Copper & Gold Corporation (TSXV:LBC) (OTCQB:LBCMF) (DE:29H) (" Libero Copper ") is pleased to announce that it has closed the second tranche of its previously announced non-brokered private placement (the " Offering ") by issuing 5,600,000 units (" Units ") at a price of $0.50 per Unit for gross proceeds of $2,800,000 . Together with the first tranche of the Offering (see news release dated December 2, 2021 ), Libero Copper has received total gross proceeds to date of $4,800,000 . The final tranche of $3,500,000 will close upon receipt of TSX Venture Exchange approval.

Keep reading... Show less

Turquoise Hill Acknowledges Receipt of Notice of Arbitration from Entrée Resources Ltd.

Turquoise Hill Resources Ltd. (TSX: TRQ) (NYSE: TRQ) ("Turquoise Hill" or the "Company") today announced that it has received a notice of arbitration from Entrée Resources Ltd. ("Entrée") in connection with the Earn-in Agreement (the "Earn-in Agreement") with Entrée.

The Company disputes the characterizations made by Entrée in its news release dated May 26, 2022 announcing the initiation of arbitration proceedings. Turquoise Hill has been in discussions with Entrée in order to resolve certain commercial disagreements in connection with the Earn-in Agreement. The Company reserves all of its rights and will vigorously defend itself. The Company will update the market as appropriate.

Keep reading... Show less

First Quantum Announces Redemption Of $500 Million Outstanding 2023 Notes

(In United States dollars, except where noted otherwise)

 First Quantum Minerals Ltd. ("First Quantum" or "the Company") (TSX: FM) today announced that it has issued a notice of redemption for $500 million of its outstanding 7.250% Senior Notes due April 2023 (Rule 144A: ISIN US335934AK15; CUSIP 335934AK1; Reg S: ISIN USC3535CAF52; CUSIP C3535CAF5) (the "2023 Notes") for June 7, 2022.

Keep reading... Show less

Northern Dynasty: Pebble Partnership Reacts to U.S. Environmental Protection Agency's Announcement to Pursue Political Preemptive Veto Again

Northern Dynasty Minerals Ltd. (TSX:NDM) (NYSE American:NAK) ("Northern Dynasty" or the "Company" or "NDM") reports that John Shively, CEO of its 100%-owned U.S-based subsidiary Pebble Limited Partnership ("Pebble Partnership" or "PLP") released the following statement about today's news that the U.S. Environmental Protection Agency ("EPA") intends to advance its preemptive veto of the Pebble Project

"This is clearly a giant step backwards for the Biden Administration's climate change goals. I find it ironic that the President is using the Defense Production Act to get more renewable energy minerals such as copper into production while others in the Administration seek political ways to stop domestic mining projects such as ours. As we are still actively working through the established permitting process via our appeal of the Army Corps of Engineers permit denial, we oppose any action that is outside of that process. This preemptive effort is clearly a political maneuver to attempt to block our ability to work through that established process. Further, the Army Corps of Engineers published an Environmental Impact Statement ("EIS") for Pebble in 2020 with input from many agencies including the EPA that states that the project can be done without harm to the region's fisheries. The EIS further notes the tremendous economic opportunity the project represents for the communities around Iliamna Lake where year-round jobs are scarce, and the cost of living is very high. We still need an opportunity to review the specific details that will be in the preemptive veto action. It is also worth noting that there are several additional internal steps that the EPA must follow before anything is final including a public comment period and a decision by the Assistant Administrator. The Pebble Project remains an important domestic source for the minerals necessary for the Biden Administration to reach its green energy goals and if it blocks Pebble it will have to seek minerals to meet its goals from foreign sources which simply do not have the same environmental standards as we do."

Keep reading... Show less
American West Metals

Drilling at West Desert Confirms New Mineralised Zone

American West Metals Limited (American West or the Company) (ASX: AW1) is pleased to announce that drill hole WD22-19 - the first exploration drill hole completed by American West - has delivered a discovery that may potentially represent a significant extension of the known mineralisation at the West Desert Project in Utah (West Desert or the Project).

Keep reading... Show less

Teck Announces Cash Tender Offer for up to US$500 million of Debt Securities

Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) ("Teck") announced today that it commenced a cash tender offer (the "Tender Offer") to purchase up to US$500 million aggregate principal amount (subject to increase or decrease by Teck, the "Aggregate Maximum Tender Amount") of its outstanding notes listed in the table below (collectively, the "Notes" and each a "Series" of Notes), in the order of priority shown in the table below.

Acceptance Priority Level CUSIP / ISIN Title of Security
Aggregate Principal Amount Outstanding
Reference U.S. Treasury Security Bloomberg Reference Page Fixed Spread (basis points) (1)
1 878742AW5 / US878742AW53 6.250% Notes due 2041 US$794,717,000 3.250% U.S. Treasury due May 15, 2042 FIT1 230
2 878742AE5 / US878742AE55 6.125% Notes due 2035 US$609,355,000 2.875% U.S. Treasury due May 15, 2032 FIT1 230
3 878742AS4 / US878742AS42 6.000% Notes due 2040 US$490,670,000 3.250% U.S. Treasury due May 15, 2042 FIT1 230
4 878742AZ8 / US878742AZ84 5.400% Notes due 2043 US$376,908,000 3.250% U.S. Treasury due May 15, 2042 FIT1 230
5 878744AB7 / US878744AB72 5.200% Notes due 2042 US$399,043,000 3.250% U.S. Treasury due May 15, 2042 FIT1 230
6 878742BE4 / US878742BE47
878742BG9 / US878742BG94
3.900% Notes due 2030 US$550,000,000 2.875% U.S. Treasury due May 15, 2032 FIT1 195

(1) Includes the Early Tender Premium of US$50 per US$1,000 principal amount of Notes for each Series (the "Early Tender Premium").

Keep reading... Show less

Hudbay Receives Favourable U.S. District Court Ruling on Copper World

Hudbay Minerals Inc. ("Hudbay" or the "company") ( TSX, NYSE: HBM) received a favourable decision from the U.S. District Court for the District of Arizona ("District Court") relating to the company's Copper World project in Arizona. The District Court ruled in favour of Hudbay on all issues, including that Copper World and Rosemont are not connected under the National Environmental Policy Act ("NEPA") and, therefore, that the Army Corps of Engineers ("ACOE") does not have an obligation to include Copper World as part of its NEPA review of Rosemont. The District Court also granted Hudbay's motion to dismiss the Copper World preliminary injunction request filed by the plaintiffs in the two lawsuits challenging the Section 404 Clean Water Act permit for Rosemont on the basis that the lawsuits are moot after the company surrendered its 404 permit back to the ACOE in April 2022. The ACOE has never determined that there are jurisdictional waters of the U.S. on the Copper World site and Hudbay has independently concluded through its own scientific analysis that there are no such waters in the area.

In April 2022, the company commenced early site works at Copper World with initial grading and clearing activities continuing at site. The company also continues exploration and technical work at site with seven drill rigs conducting infill drilling and supporting future feasibility studies.

Keep reading... Show less

Latest Press Releases

Related News

×