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Wednesday, Feb 8, 2023
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Gold

Libero Copper & Gold and local communities partner to restart mining project in Argentina

Previous drilling operations uncovered 0.57% Cu, 0.27 g/t Au over 387 metres from surface to the end of the first hole

Porphyry copper-gold and epithermal gold project in Esperanza. Image via Libero Copper & Gold.

Libero Copper & Gold (TSXV: LBC) (OTCQB: LCBMF) announced an update on its Esperanza porphyry gold-copper project in San Juan, Argentina, which is presently in the closing stages of starting up.

Representatives of the company have built a strong relationship with Carlos Astudillo, Minister of Mining of San Juan, Argentina. Local authorities and company members have reviewed the official report over the course of several meetings and found ways to work together for a success restart to the project.

“We are excited about the collaborative working relationship that has been developed with the Ministry of Mines and a shared interest in advancing the exploration in San Juan. This relationship maximizes the participation of the local communities and San Juan businesses with the highest levels of environmental oversight and excellence,” said Ian Harris, president and CEO.

Libero has been working with residents living close to its Esperanza project to improve relationships. The company intends to build sustainable benefits for Jáchal and San Juan that will help with the energy transition and environment, social, economic and cultural development of the province and country as a whole.

Read more: OceanaGold releases drilling results displaying high grade intersects

Read more: Calibre Mining high-grade gold drill positive results to continue at Panteon North, say analysts

Libero Copper and Gold fosters community support

The company is now holding regular meetings with land owners and authorities regarding starting geological studies at the project. Residents are interested in working with Libero Cooper according to an update provided by the company on the community relations project. This owes much to Libero’s commitment to defending climate change, the energy transition, environmental protection and clean water.

“Now that we are in the final stages of restarting the project, we are very proud of the team’s ability to create a collaborative relationship with local stakeholders based on our core values of respect and responsibility. These efforts form the basis of a mutually beneficial path forward for the project and the community,” said Harris.

The project permitting process reached another milestone with the recent site visit from the Ministry of Mines of San Juan. The visit confirmed project conditions prior to re-commencement of the project. The visit added to the latest water quality work conducted by the the Institute of Hydraulic Investigation of the National University of San Juan for the water baseline study.

The Esperanza Porphyry Copper-Gold Deposit is mining friendly

Esperanza’s porphyry copper-gold and epithermal gold project is in Huachi Mining District of San Juan Province, Argentina. The region also has a reputation for being well-endowed with precious metals and friendly to mining projects. Additionally, the Esperanza project is 3,150 meters about sea level and is approximately 45 kilometers from both Villa Mercedes and Angualasto in the Jachal department. There are also no glacial or periglacial landforms near the project.

Thus far in its history, only 7,691 metres have been drilled on the project. In 2018, Latin Metals (TSXV: LMS) (OTC: LMSQF) drilled two holes in search of porphyry copper mineralization. Consequently, the drilling operation uncovered 0.57% Cu, 0.27 g/t Au over 387 metres from surface to the end of the first hole, including 0.74% Cu, 0.33 g/t Au over the first 232 metres from surface. Hole 18-ESP-27 returned 0.21% Cu, 0.12 g/t Au over 451.5 metres from surface to the end of the hole, including 0.43% Cu, 0.12 g/t Au over 24 metres from 86 to 110 metres.

Esperanza is accessible by road and has multiple copper-gold drill targets. These are supported by surface rock samples across a large alteration footprint. The project also drills year-round and permitting is underway. Libero Copper & Gold intends on starting a 5,000 meter drill program in 2023.

Calibre Mining brings high grade intercepts

Calibre Mining (TSX: CXB) (OTCQX: CXBMF) is another gold company sporting high grade intercepts. This time, though, it’s from its mining operations in Panteon North operations within the Limon Mine Complex in Nicaragua.

Highlights from the company’s most recent drill results in the Limon Mine Complex include:

  • 17.80 g/t Au over 7.9m (LIM-22-4694)
  • 13.14 g/t Au over 8.4 m (LIM-22-4659)
  • 12.30 g/t Au over 4.4 m (LIM-22-4672)
  • 15.18 g/t Au over 2.9 m (LIM-22-4671)
  • 12.85 g/t Au over 10.6 m including 22.47 g/t Au over 4.9 m (LIM-22-4691)

 

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