Libero Copper & Gold (TSXV: LBC) announced on Tuesday that its recently concluded surveys have identified an area within its Big Red project that reads for a strong potential potassium source. The mining firm plans to focus its upcoming drill program on this target site.
The area, estimated at around 64 cubic kilometers, shows “strongly elevated potassic alteration signature” as interpreted from the results of the airborne magnetic and radiometric survey data. The site is located immediately southeast of the Terry porphyry Cu-Au discovery.
“The exceptional target area identified southeast of the Terry area may represent the source for the hydrothermal system feeding the Terry porphyry discovery,” said CEO Ian Harris. “We are providing the team with all of the technology necessary for a successful field season and look forward to drill testing this target.”
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The potassium deposit might be the reason for “the hydrothermal solutions responsible for the mineralization in the Terry area,” the company theorized. The drill program aims to follow up on the previous mineralized drill intercepts on the discovery to reach a conclusion.
The company has mobilized its field crew for the summer drill program slated to start mid-July.
Libero Copper last traded at $0.45 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
