A summer program conducted by Libero Copper & Gold (TSXV: LBC) has seemingly struck out in terms of results. The 2,790 metre drill program, conducted at the Big Red project in British Columbia, saw only one of six holes hit mineralization the company deemed worthy to report on.
Of the six holes conducted, the first two were abandoned, while four were completed. Drilling largely focused on testing porphyry intrusion targets east of the Terry copper-gold discovery, with one drilled at the Terry porphyry. Only one hole hit, with all drill holes conducted to the east failing to intersect notable mineralization.
Results from the program include:
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- BR-22-043: 0.17% copper, 1.38 g/t silver, 0.03 g/t gold over 223.93 metres
- Including 0.24% copper, 1.74 g/t silver, 0.05 g/t gold over 100.53 metres
- Including 0.26% copper, 1.65 g/t silver, 0.03 g/t gold over 10.00 metres
The program also saw the collection of 614 surface rock samples, with assays indicating up to 10 g/t gold. 2023 fieldwork is slated to occur at the Poker, Windy, TGR North, Ridge and West targets.
The results follow the closing of a financing earlier this month, which saw the company raise $1.9 million via the sale of units at a price of $0.15 per each, which contained one common share and one purchase warrant.
Proceeds are slated to be used for the exploration of the firms Mocoa project in Colombia, and the Esperanza project in Argentina. Libero currently intends to conduct a 5,000 metre drill program at Esperanza this year, while Mocoa is said to be focused on further soil sampling, prospecting, and mapping.
Libero Copper & Gold last traded at $0.13 on the TSX Venture.
Information for this briefing was found via Edgar and the sources 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.
