Exploration at Big Red has been primarily focused on advancing the new Terry porphyry copper discovery through diamond drilling, ground-based geophysics and surficial sampling and mapping.
Terry 2021 Exploration Highlights To Date
First core drill hole mineralized from surface to end of hole (depth of 510 metres) Completed approximately 2,000 metres of drilling in five holes to date out of 5,000 metres planned with drilling ongoing. First two drill holes have been shipped to the lab for assays
Collected 459 soil samples over the Terry discovery
Completed a 1.2 km2 3D IP survey over the Terry discovery
Identified four new zones of copper +/- gold mineralization
'The 2020 discovery of porphyry copper mineralization at Terry has really tightened the focus and propelled the Big Red project forward. Our exploration work so far this season has generated robust geochemical and geophysical data sets. The new showings and the widespread Cu-in-soil anomaly illustrate the potential for a large Cu-bearing system,' comments
Big Red Exploration Program
Soil Sampling and Mapping
Exploration on the Big Red project commenced with a soil sampling and mapping program in June. Samples from the soil sampling grid were analyzed onsite with a portable X-ray fluorescence (pXRF) device for multiple elements. Quality assurance of the pXRF results was done by sending split soil samples to an accredited laboratory for confirmatory analysis. The soil sampling program outlined a widespread and remarkably high Cu-in-soil anomaly consistent with high-grade rock sampling and the 2020 drill results. Mapping in the surrounding area has identified four new zones of copper +/- gold mineralization up to 1.2 kilometres east and 2.5 kilometres southeast of the Terry target. The distribution of these new zones (Stinger, Blowdown, Grande, Scorcher) suggests the potential for multiple porphyry centers in the area and that initial drilling has been on the northwestern edge of the system.
3D IP
Following the initial soil sampling program, a 1.2 km2 3D IP grid was surveyed over the Terry target. Preliminary chargeability and resistivity inversions of the data have been integrated into the 3D exploration database and are being used to advance and refine ongoing drill targeting. The data sets are complementary to a previously collected magnetic inversion which was used to generate many of the initial drill targets.
Drilling
The 5,000 metre diamond drilling program at Terry follows up on a porphyry copper discovery in 2020 where reverse-circulation (RC) drilling returned four mineralized holes, including 120 metres of 0.41% copper equivalent from surface to end of hole including 73 metres of 0.49% copper equivalent from surface. The portable RC drill used in 2020 had limited depth capacity. To extend mineralization at depth, drilling in 2021 has employed a diamond drill, and the first 500 metre holes of the year were done on a pad located 50 metres northwest of the 2020 discovery drilling at Terry. Additional drilling will test the extent of mineralization further to the south and east of the previous drilling.
The dominant lithologies and mineralization observed in the first core hole BR-21-28 are consistent with the chip logging from the 2020 RC drilling, however at depth new lithologies and mineralization styles were intercepted. Chalcopyrite mineralization largely occurs throughout the 510 metre hole (trace to more than 5 %), from surface and ending in mineralization, with the exception of cross-cutting late intrusive phases. The style of alteration (kspar-chlorite-biotite-epidote-albite-magnetite-hematite), presence of garnet veins, and lack of quartz veining is suggestive of an alkalic porphyry system, however additional studies will be required to confirm.
About Big Red
Big Red is a 26,000-hectare district scale land package with both copper and gold targets, road access, and an airstrip. Big Red is located 45 kilometres southwest of
At Big Red, the Terry porphyry copper target is peripheral to a distinct large magnetic-high feature over the Limpoke Pluton that coincides with a radiometric potassium anomaly, magnetic low, conductivity high, copper, gold, silver and molybdenum anomalies and a mapped Jurassic aged porphyry intrusion. The discovery hole drilled in Terry in
Quality Assurance
All sample assay results have been monitored through a quality control / quality assurance (QA/QC) program including the insertion of blind standards, coarse blanks, and pulp reject duplicate samples. Monitoring of the QA/QC program has determined that the analytical results are of acceptable quality. The sampling program was undertaken by Libero personnel under the direction of Dr.
About
Libero is unlocking the value of a collection of porphyry copper deposits throughout the
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.
Contact:
Tel: +1 604 294 9039
Email: harris@liberocopper.com
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