Libero Options the Esperanza Porphyry Copper-Gold Project - Drilling Includes 232 Metres of 1% Cueq from Surface

Libero Copper & Gold Corporation (TSXV: LBC) (OTCQB: LBCMF) (DE: 29H) is pleased to announce that it has optioned the Esperanza porphyry copper-gold and epithermal gold project located in the prolific precious and base metal endowed and mining friendly Huachi Mining district, San Juan Province, Argentina . The advanced stage Esperanza exploration project is road accessible, contains multiple copper-gold drill targets supported by numerous high-grade surface rock samples across a large alteration footprint and numerous historical drill intercepts including 387 metres of 0.78% copper equivalent from surface through end of hole. An initial 5,000 metre drill program is planned for the second quarter.

Highlights

  • Drill ready porphyry copper-gold advanced exploration project in mining-friendly Huachi mining district, San Juan Province, Argentina .

  • Drill intercepts include 387 metres of 0.78% Cueq (0.57% Cu and 0.27g/t Au) (including 232 metres of 1% Cueq (0.74% Cu and 0.33 g/t Au)), starting at surface and open at depth and in all directions (Table 1, Plate 1).

  • Porphyry copper-gold mineralization exposed on surface with numerous high-grade surface rock samples (0.10% - 8.29% copper) associated with widespread quartz-sericite-pyrite, clay, and biotite alteration footprints (2.0 km by 1.2 km) identifying multiple untested porphyry and epithermal targets (Figures 2 and 3).

  • Confirmed copper-gold porphyry system juxtaposed with epithermal gold mineralization. High-grade epithermal gold zones with drill intercepts including 3 metres of 65 g/t Au and 7 metres of 4.7 g/t Au.

  • Initial 5,000 metre drill program planned for the second quarter.

"Esperanza adds another advanced stage copper-gold porphyry to the portfolio of Libero, in another mining-friendly jurisdiction known for major mining projects. We are very excited about this exceptional drill target as a 2018 drill program intercepted 387 metres of 0.78% copper equivalent from surface through to the end of hole, which was never followed up on due to market conditions," comments Ian Harris , Chief Executive Officer. "The project has a year-round drilling season and drill permitting is already underway. We are planning to be drilling by April, in advance of our summer drill programs in Canada at Big Red and Big Bulk."

Hole ID

From

To

Interval (m)

Cu (%)

Au (g/t)

CuEq (%)

Target

18-ESP-025

0.0

387.0

387.0

0.57

0.27

0.78

Porphyry

Including

0.0

232.0

232.0

0.74

0.33

1.00

06-HU-01

1.0

200.0

199.0

0.25

0.12

0.34

Porphyry

06-HU-02

2.0

355.1

353.1

0.35

0.18

0.49

Porphyry

Including

112.0

200.0

88.0

0.48

0.27

0.69

07-HU-05

6.0

254.5

248.5

0.26

0.17

0.39

Porphyry

Including

192.0

244.0

52.0

0.39

0.32

0.64

11-HU-18

54.0

61.0

7.0

-

4.73

-

Epithermal

11-HU-22*

52.0

55.0

3.0

-

65.07

-

Epithermal

Table 1: Select historical drill intercepts. Libero has not undertaken any independent investigation of the sampling nor has it independently analyzed the results of the historical exploration work in order to verify the results. Libero considers these historical drill results relevant as Libero will use this data as a guide to plan future exploration programs. Libero also considers the data to be reliable for these purposes, however, Libero's future exploration work will include verification of the data through drilling. *20% recovery over this interval – results may not reflect true width or mineralization grade. CuEq was calculated using US$1,850/oz gold and US$3.50/lb copper and does not consider metal recoveries.

The Esperanza project lies within the pre-cordillera tectonostratigraphic belt of northern Argentina , in a region dominated by Paleozoic to Lower Mesozoic sedimentary and volcanic rocks. At Esperanza, these rocks are cut by the Cretaceous or Tertiary sub-volcanic stocks and dykes known as the Huachi Intrusions. Mineralization at Esperanza is centered on a large and intense porphyry-style alteration footprint exposed over a 2 km by 1.2 km area where copper and gold mineralization is associated with hypabyssal feldspar porphyry intrusions, an early phase of the Huachi Intrusions (Figures 2 and 3). At Esperanza epithermal gold mineralization and porphyry copper-gold mineralization occur together, which suggests overprinting of the two styles, and thus increases the potential for high-grades. Porphyry-style copper mineralization consists of dissemination and fracture fill chalcopyrite with subordinate magnetite and pyrite within a broad potassic alteration envelope. Historical exploration includes diamond drilling, rock and silt sampling, IP, and magnetic geophysics. Rock sampling at surface has defined copper and gold mineralization over much of the project.

Drill hole 18-ESP -025, completed by Latin Metals in 2018, returned the best results to date with 387 metres grading 0.57% copper and 0.27 g/t gold from surface through end of hole (Table 1, Plate 1). This hole was not followed up on due to market conditions. Mineralization is open at depth and laterally, with priority targets located west and south. There are multiple drill-ready, untested targets. A 5,000 metre drill program is planned for the second quarter. Esperanza is road accessible and located at an elevation of only 3,200 metres in mining-friendly San Juan Province, Argentina.

Libero has entered into an option agreement with Latin Metals Inc. to earn-in to 70% of the Esperanza project by assuming the underlying option payments to the original project vendors and incurring $2 million in exploration expenditures by December 15, 2022 . Upon the exercise of the option, Libero and Latin Metals will form a 70/30 joint venture for the continued exploration and development of the project.

Date

Cash Payments
(USD)

Exploration Expenditures

(USD)

June 15, 2021

$300,000


December 15, 2021

$750,000

$1,000,000

December 15, 2022

$1,353,000

$1,000,000

About Libero Copper & Gold

Libero 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 the Mocoa deposit in Colombia . These assets are being advanced by a highly disciplined and seasoned professional team with successful track records of discovery, resource development, and permitting in the Americas.

The technical information contained in this news release has been reviewed and approved by Dr. Thomas Mumford P.Geo , President of Serac Exploration, who is a Qualified Person as defined under NI 43-101.

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.

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Libero Copper & Gold

Libero Copper & Gold

Overview

Canada’s West Coast is becoming one of the world’s hottest exploration regions for copper and gold. Home to the renowned Golden Triangle of British Columbia, the area hosts some of the most resource-rich mineral deposits that have piqued the interest of investors globally.

The Golden Triangle is situated within the Sulphurets Hydrothermal System, known for its large mineral concentrations. Gold and copper estimated reserves hover around 188 million ounces and 55 billion pounds, respectively. With these inferred resources, British Columbia offers prospective mining companies exceptional discovery potential and exploration opportunities.

Libero Copper & Gold (TSXV:LBC) is a mineral exploration and development company focused on developing a collection of highly prospective porphyry deposits throughout the Americas. The company currently operates assets out of the prolific and stable Golden Triangle jurisdiction of British Columbia and can work year round in South America in the mining-friendly San Juan province of Argentina and Colombia.

The flagship Big Red project in British Columbia hosts 19 porphyry copper-gold and high-grade gold targets over its 26,000 hectare land span. Libero optioned the asset in 2019 after the project saw years of sampling on individual titles and consolidation in the mid-2010s.

Big Red could see similar mining and production success to neighboring GT Gold’s (TSXV:GTT) projects, which hosts a similarly aged geological profile and widespread copper and gold soil anomalies.

In December 2020, Libero confirmed a significant porphyry copper discovery at the deposit’s initial Terry target drill hole. The discovery saw grades of 0.45 percent copper equivalents over 24 meters from surface-level. “We are encouraged with the results from this first hole into the Terry target as it confirms our geological model for the area and is consistent with the copper grades discovered at surface earlier in the season,” Libero CEO Ian Slater commented. This hole was followed up in January with a further five holes all mineralized from surface to end of hole, including 0.41 percent copper equivalent over 120 meters from surface level. Depth of drilling was limited by the reverse circulation drill rig.

Another of the company’s projects is its Mocoa deposit located on the Jurassic porphyry belt in Central Colombia. The property has already seen a prefeasibility study conducted by the Colombian government and United Nations in 1983. Since then, extensive work has been performed on the property to advance this exciting mineral project towards economic success, including further drilling and metallurgical testing, including drilling 0.67 percent copper equivalent over 634 meters ending in high grade mineralization.

In January 2021, Libero announced its option for the Esperanza porphyry copper-gold and epithermal gold project located in the prolific precious and base metal-rich Huachi Mining district in San Juan Province, Argentina. This advanced-stage exploration project leverages excellent existing infrastructure and offers Libero extensive geological data and potential for fast-tracked drilling of an advanced exploration project.

The company’s market cap currently sits at C$20 million with 148 million shares outstanding. Its ownership portfolio includes management at 10 percent and B2Gold Corp (TSX:BTO) at 7 percent.

Libero Copper & Gold’s Company Highlights

  • Libero Copper & Gold is a mineral exploration company focused on developing its highly- prospective mineral projects in North and South America. Fantastic available funding, drill-ready conditions and an experienced exploration team primes Libero for mining success.
  • The company’s flagship projects are the Big Red project in British Columbia; the Esperanza project in San Juan, Argentina; and the Mocoa project in Central Colombia. All projects have seen extensive groundwork and some initial drilling, with Mocoa hosting a resource of 636 million tonnes at 0.45 percent copper equivalent.
  • The Big Red asset leverages similar mining conditions to its direct geographic neighbors, including GT Gold. The property hosts 19 identified targets, including the Terry target with high conductivity and high grade copper rock samples over a kilometer.
  • Libero currently holds a 100 percent interest in the Mocoa property and intends on unlocking the value of the enormous resource with ongoing permitting and community engagement. Similar projects in the same Jurassic porphyry belt include Corriente’s Mirador mine which was sold for $690 million and Solaris’ Waritza project which has a valuation of $600 million.
  • The company optioned the Esperanza porphyry copper-gold and epithermal gold project in the mining-friendly Huachi Mining district, Argentina. The advanced stage project hosts multiple copper-gold drill targets and high-grade surface rock samples. The discovery hole included 1 percent copper equivalent from surface over 232 meters.
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