Explorer Reports Exceptional Copper-Moly Drilling Results in Colombia

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Libero Copper and Gold Corp. (LBC:TSX.V; LBCMF:OTCQB) has announced the results of a third drill hole in its resource expansion program at its flagship Mocoa copper-molybdenum project in Colombia.

The company said in a release that all three holes, including MD-043, MD-044, and MD-045, the latter of which was released this week, "now form the backbone of the company's current resource expansion strategy, bridging data between known high-grade zones and enabling more targeted step-out drilling."

The holes showcase robust results over a broad area, from surface to depth, each remaining open, leading President and Chief Executive Officer Ian Harris to say Libero may have just found "the tail of an elephant."

"The consistent, robust high-grade intercepts across three consecutive drill holes —including MD-045 — not only validate our geological model but also reveal an emerging system of feeders that, even though its ultimate source remains elusive, significantly de-risks further exploration," Harris said of the results. The holes demonstrate "that Mocoa is building real momentum. Every new result above and below ground reinforces that we're unlocking the project’s true value."

Results from MD-045 included 1,166 meters at 0.46% copper-equivalent (CuEq) starting from surface to the end of the hole, including:

• 992 meters grading 0.51% CuEq (0.35% Cu and 0.04% molybdenum or Mo) from 105 meters depth
• 101 meters grading 0.76% CuEq (0.53% Cu and 0.05% Mo) from 115 meters depth
• 50 meters grading 1.02% CuEq (0.75% Cu and 0.07% Mo) from 127 meters depth

Libero said the hole confirmed a vertical depth exceeding 1,000 meters and, along with MD-043, confirms the western extension of the deposit, setting up additional step-out drilling to expand the project's resource. The company said it will define that strategy with its newly appointed strategic advisor, Frank Balint.

14,000 Meters of Drilling in 2025

The Mocoa project is in the Putumayo Department of southern Colombia, about 10 kilometers north of Mocoa. The deposit contains an inferred mineral resource of 636 million tonnes (Mt) grading 0.45% CuEq (0.33% Cu and 0.036% Mo), representing 4.6 billion pounds of contained copper and 511 million pounds of molybdenum.

This year, the 14,000-meter drilling program at the project will increase total drilling by 50%.

MD-044, the first hole of the drilling program at Mocoa, confirmed extensive mineralization from surface to the end of the hole, returning 1,141 meters of 0.46% CuEq (0.27% Cu and 0.04% Mo), including a high-grade 542-meter interval at 0.69% CuEq (0.41% Cu and 0.07% Mo), the company said in its release.

"These results extended the NNE-plunging high-grade core at depth and connected previously separated zones, revealing a larger, continuous mineralized system with multi-stage mineralization and potential for expansion," Libero said.

Stock Ready for Breakout, Expert Says

*Mineralization at Mocoa remains open along strike and at depth, offering "significant exploration upside," wrote John Newell of Newell & Associates on February 24. "The company has identified multiple high-priority drill targets, including additional porphyry systems adjacent to the main Mocoa deposit. The next phase of work will include permitting, community engagement, and an expanded drill campaign aimed at expanding the resource base and further de-risking the project."

Newell said recent chart analysis suggested a potential breakout for the stock, "as technical indicators, such as the MACD, signal a potential uptrend while increasing volume indicates growing investor interest."

Newell said recent chart analysis suggested a potential breakout for the stock, "as technical indicators, such as the MACD, signal a potential uptrend while increasing volume indicates growing investor interest."

"Libero Copper is poised to capitalize on the structural bull market in copper, underpinned by its world-class Mocoa deposit and a leadership team with a proven ability to advance projects," wrote Newell. "With a tight share structure, increasing investor awareness, and robust market fundamentals, Libero Copper offers an attractive investment opportunity at current prices for those seeking exposure to the next wave of copper expansion at the low end of the share price range."

Also, on February 24, Libero announced its stock had been recognized as of the 2025 TSX Venture 50, an annual ranking of the top 50 performing companies from more than 1,600 companies on the TSX Venture Exchange.

Selection is based on share-price appreciation, market capitalization growth, and trading volume, the company said.

"Being recognized among the TSX Venture 50 caps off a truly transformational year for Libero," Harris said at the time. "In 2024, we harnessed the sponsorship of Frank Giustra and the Fiore Group and, through the tireless dedication of our team, delivered on our commitment to remobilize and rebuild Mocoa as a flagship copper-molybdenum project. Having fought our way out of underdog territory, we enter 2025 with renewed momentum — backed by a strengthened leadership and the strategic importance of copper to Colombia's energy transition."

The Catalyst: Giving the Spark to the Energy Transition

With just about every leg of the energy transition depending on copper and its importance as an electrical conductor, the hunt for the red metal "has been accelerating, as companies involved in all parts of the copper supply chain realize the structural supply deficit," wrote Rick Mills, author of the newsletter Ahead of the Herd.

"They understand the need to find sources — existing mines, expansions, brownfield projects, greenfield projects, etc. — and are making deals to acquire the base metal, which is not only essential to electrification and decarbonization but industry in general," Mills wrote.

According to a report in EV Magazine in December by Stella Nolan, "With copper mines often requiring years to begin production, immediate investments in exploration are necessary to secure future supply chains."

The Swiss bank UBS estimates that the copper supply deficit will exceed 200,000 tons by 2025, she wrote. The International Energy Forum adds that, to meet the growing demand, more than a billion tons of new copper mining capacity will be needed annually until 2050.

Copper futures surged this week after U.S. President Donald Trump ordered the Commerce Department to examine possible import tariffs on the metal, Bloomberg reported on February 26.

Copper futures traded on the Comex in New York rose as much as 4.9% before paring some of the gains, according to the report.

The action aims to assess whether a current reliance on foreign copper threatens America's national security. Much of the world's copper is currently produced in Chile, the Democratic Republic of the Congo, Peru, and China.

Ownership and Share Structure

According to the company's investor presentation updated in February, 29% of Libero is owned by management, insiders, and affiliates, including 11% held by Guistra.

About 18% is held by institutions.

13% is held by High Net Worth (HNW) investors, 4.5% by Anglo Asian Mining Plc, and 35.5% is retail.

Refinitiv reports that other major shareholders include Harris with 0.93% and directors Ernest Mast with 0.08% and Rob Van Egmond with 0.07%.

Libero has a market cap of CA$13.35 million. Its 52-week range is CA$0.23-0.84.