Libero Announces New Discovery at Big Red in Initial Sampling Including 6.14 Grams Per Tonne Gold Over 100 Metres in Continuous Chip Samples
Libero Copper & Gold Corporation (TSX-V: LBC, OTCQB: LBCMF) is pleased to announce results from the early stage sampling program at the Big Red property in the Golden Triangle in British Columbia, Canada. The program confirmed the anomaly previously compiled from historical sampling campaigns conducted at the Ridge gold target. Continuous rock chip sampling results at the Ridge gold target included 5.14 grams per tonne gold from a single continuous chip sample taken over 50 metres. Outcrop in this area is volcanic with quartz veinlets and disseminated pyrrhotite and iron oxides (Figure 1 and Figure 2).
A significant new gold discovery has been identified at the Copper Bowl target where five contiguous 50 metre continuous rock chip samples returned intervals of 2.91 grams per tonne gold over 250 metres including 6.14 grams per tonne gold over 100 metres in two contiguous samples. Here the mineralization is hosted by a potassically altered monzonite intrusive that is cut by chalcopyrite and pyrite bearing quartz veinlets and contains disseminated chalcopyrite, pyrite and magnetite (Figure 3 and Figure 4).
“We are excited by these early stage results from this summer’s program and especially the new gold discovery at the Copper Bowl target”, commented Leo Hathaway, EVP Exploration. “We are looking forward to conducting follow up work including initial drill testing this September.”
Libero will now target both Ridge and Copper Bowl in the upcoming exploration drill campaign commencing this month, subject to permitting.
Libero field crews collected 575 samples. Of these, 532 were continuous chip samples where rock chips were taken every 20 to 30 centimetres over a continuous outcrop, were collected in an unbiased manner over single sample lengths ranging between 1 and 50 meters and put into a single sample bag. For the assay results reported above sample weights range from 1.0 to 1.8 kilograms. The remaining 43 samples were continuous talus samples taken along talus slope contours over up to 50 metres for a single sample and put into a single sample bag.
All Libero sample assay results have been monitored through a quality control / quality assurance program including the insertion of blind standards and sample duplicates. Samples are securely transported to ALS Lab's sample preparation facility in Whitehorse, Yukon. Sample pulps are sent to Vancouver, British Columbia for analysis. Gold content is determined by fire assay of a 30 gram charge with copper content determined by four-acid digestion with ICP finish. ALS Labs is independent from Libero. Libero is not aware of any other factors that could materially affect the accuracy or reliability of the data referred to herein.
The technical information contained in this news release has been reviewed and approved by Libero’s Executive Vice President of Exploration, Leo Hathaway P.Geo., who is a Qualified Person as defined under NI 43-101
About the Big Red Porphyry Gold-Copper Property
Big Red comprises 20 contiguous claims totalling 26,000 hectares in northwestern British Colombia, 45 kilometres southwest of Telegraph Creek. Big Red lies within the Golden Triangle 70 kilometres north of Galore Creek and 80 kilometres west of GT Gold’s Saddle discovery. Big Red is located 18 kilometres from paved highway with dirt roads extending to the claim block. Please see Libero’s flickr site for photographs.
The Golden Triangle is a geological province of prodigious copper and gold mineralisation and host to some of Canada’s most famous mines, including Premier, Red Chris, Snip, Brucejack and Eskay Creek. Within the Golden Triangle porphyry copper and gold, epithermal gold and silver and volcanogenic massive sulfide styles of mineralisation have all been recognised. At Big Red all three of these styles exist, indicating that a large mineralised system has been preserved from erosion. The primary porphyry gold-copper targets are peripheral to a distinct large magnetic-high feature and coincide with a radiometric potassium anomaly, copper, gold and molybdenum anomalies and a mapped Jurassic aged porphyry intrusion.
About Libero Copper & Gold
Libero is acquiring high-quality copper deposits with significant resources but without any fatal flaws or significant holding costs and exceptional copper and gold exploration properties in the Americas. These assets are being advanced and de-risked by a seasoned team to minimize dilution and maximize shareholder value. The portfolio currently includes the Big Red exploration project in Canada, the Tomichi deposit in the United States and the Mocoa deposit in Colombia which both contain large inferred mineral resources. In total the properties contain 7.9 billion pounds of copper and 1.1 billion pounds of molybdenum.
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.
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