VANCOUVER, BC, May 20, 2025 /CNW/ - Copper Giant Resources Corp. ("Copper Giant" or the "Company") (TSXV: CGNT) (OTCQB: LBCMF) (FRA: 29H0) is pleased to announce a preliminary conceptual exploration target (the "Exploration Target") at its Mocoa copper-molybdenum project in Putumayo, Colombia (the "Mocoa Project"). Developed in collaboration with APEX Geoscience Ltd. ("APEX"), the Exploration Target outlines the potential to significantly expand the mineralized envelope beyond the limits of the Current (2021) Mineral Resource Estimate1. An integrated reinterpretation of drilling, geophysical and geochemical data shows that Mocoa meets every hallmark of a tier-one porphyry system, reinforcing its district-scale growth potential and guiding the next phase of resource-expansion drilling.
Working with APEX, Copper Giant has outlined a conceptual Exploration Target for material lying outside the Current (2021) Mineral Resource Estimate1; highlights include:
- Target size: 977 - 1,247 million tonnes
- Target grade: 0.49 - 0.55 CuEq (0.31 - 0.36% Cu and 0.035 - 0.039% Mo)
- The Exploration Target is based on all drilling to date at the project and is exclusive of, and represents the exploration upside of, the area surrounding and outside of the Current (2021) Mineral Resource Estimate.
The quantity and grade of the Exploration Target mineralized material are conceptual in nature, as there has not been sufficient exploration and drilling to define a mineral resource, and it is uncertain whether exploration will result in the target being delineated as a mineral resource. The defined Exploration Target should not be misrepresented or misconstrued as an estimate of a mineral resource or mineral reserve. The Exploration Target Model has not been evaluated for reasonable prospects of eventual economic extraction (RPEEE).
Ian Harris, President & CEO commented: "Every round of drilling deepens our conviction that we're only touching the tail of the elephant at Mocoa. This new Exploration Target, prepared in collaboration with APEX Geoscience, shows the potential to double-almost triple-the existing resource, and we're still focused just on the area surrounding current drilling. It ticks all the boxes of a major porphyry system: scale, continuity, and multi-phase enrichment. Most importantly, it gives us a clear, data-driven roadmap for aggressive resource expansion.
In accordance with the requirements of National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), Copper Giant has established the Exploration Target for the Mocoa Project. The target ranges from approximately 977 to 1,247 million tonnes of mineralized material, grading between 0.31 and 0.36% Cu and 0.035 and 0.039% Mo. These figures are conceptual in nature and based on limited drilling and geological modeling. There has not been sufficient exploration to define a current mineral resource, and it remains uncertain whether further work will lead to the delineation of a mineral resource. The Exploration Target has not yet been assessed for RPEEE.
A new NI 43-101 technical report is being completed by Mr. Michael Dufresne (MSc, P.Geol, P.Geo), President and CEO of APEX, an independent Qualified Person as defined by NI 43-101. The technical report will include details on the Exploration Target.
Cut-off (% CuEq*) | Million tonnes | Cu (%) | Mo (%) | CuEq* (%) |
0.20 | 1,247 | 0.31 | 0.035 | 0.49 |
0.25 | 1,114 | 0.33 | 0.037 | 0.52 |
0.30 | 977 | 0.36 | 0.039 | 0.55 |
Table 1 - Exploration Target for the Mocoa Project.
The potential quantity and grade of the Exploration Target is conceptual in nature, and there has not been sufficient exploration and drilling to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The Exploration Target Model has not been evaluated for RPEEE. *Copper equivalent (CuEq) for the Exploration Target is calculated as: CuEq (%) = Cu (%) + 5.0 × Mo (%), utilizing metal prices of Cu - US$4.20 /lb and Mo - US$25.00 /lb and metal recoveries of 90% Cu and 75% Mo.
The Exploration Target used a modern 3D-geological model provided by Company geologists for the Mocoa Project, which was derived from 46 drillholes yielding a total of 29,748 metres. The drillhole database contains a full-set of 17,040 sample intervals with complete multi-element geochemical results.
The Exploration Target was developed using both copper and molybdenum assay results from previous and Copper Giant's most recent drilling. Mineralization trends were evaluated visually to generate a trend model, which informed the construction of grade shells. These grade shells were used to estimate the distribution of mineralized tonnes and grade to support the generation of grade-tonnage curves. The Exploration Target will be utilized to guide future drilling in these areas of known mineralization.
Over the Exploration Target there are a total of 31 drillholes (Ingeominas-United Nations) yielding a total of 18,307 meters, and 15 modern (B2gold and Copper Giant) drillholes yielding a total of 11,441 meters in the drillhole database. The drillhole database contains a total of 17,040 sample interval entries. A total of 5,626 sample intervals are contained within the mineralization domains utilized for the Exploration Target
New Geological Interpretation Highlights Mocoa's District-Scale Potential
Over the past six months, Copper Giant's technical team has completed a comprehensive re-interpretation of the robust geological, geochemical, and geophysical datasets from the Mocoa Project. This effort also incorporates results from the most recent drill holes: MD-043 (refer to news release dated April 26, 2022) MD-044 (refer to news release dated January 6, 2025), MD-045 (refer to news release dated February 26, 2025) and MD-046 (refer to news release dated May 6, 2025), which collectively cover a ~1 × 1 kilometer area. The updated interpretation confirms that the Mocoa Project exhibits the hallmark features of the world's largest porphyry copper systems, underscoring its potential as a district-scale discovery. Key observations include:
- Tectonic setting - Mocoa lies in the Andean cordillera, a prime jurisdiction for large tier-one porphyry deposits. Mocoa is part of the Jurassic porphyry belt of the Andean magmatic arc, part of the same compressional belt that hosts Mirador*, Warintza*, San Carlos*, and Panantza*, all located in Ecuador.
- Extended fertile period* - U-Pb zircon and Re-Os molybdenite geochronology reveal a prolonged magmatic-hydrothermal window of approximately 10 million years (182-172 Ma), allowing sustained metal circulation and overprinting.
- Multiphase intrusions - The presence of early-, inter-, and late-mineral porphyries, as well as mineralized breccias, reflects a dynamic, long-lived system with repeated episodes of metal input and fluid flow.
- Fertile magma chemistry - Whole-rock geochemistry confirms a calc-alkaline, hydrous, and oxidized magma source with elevated Sr/Y ratios, typical of fertile porphyry systems.
- Large alteration footprint - Surface mapping and magnetic data (refer to news release dated May 3, 2022) define a 6 × 5 km demagnetized zone (~30 km²) with classic concentric potassic, phyllic, and propylitic zonation based on the alteration modelling.
- High stockwork density and metal zoning - Core logging reveals =3% quartz-vein stockwork densities related to the high-grade zones. Modelled geochemical patterns show molybdenum enrichment near surface and lung-shaped surrounding the high-grade copper shell.
- Volume, vertical extent, and openness - Based on recent drilling, the Mocoa porphyry system has been defined over a strike length of approximately 2.5 kilometres, with a width of 1.0 kilometre and vertical continuity exceeding 1.0 kilometre. In addition, integrated interpretation of geophysical surveys (refer to news release dated May 3, 2022) and follow-up fieldwork (refer to news releases dated November 15, 2022; February 7, 2023; January 27, 2025) has outlined at least nine additional porphyry targets across the broader project area, underscoring the district-scale potential beyond the main Mocoa deposit.
*The Fertile Period represents the duration of magmatic-hydrothermal activity associated with copper mineralization, based on radiometric dating methods such as U-Pb, Re-Os, and K-Ar for the Mocoa project. Mirador, Warintza, San Carlos and Panantza are independent of Copper Giant and are no guarantee of the future performance of Copper Giant projects and no inference can be made of mineral resources or reserves from adjacent deposits.
Qualified Person and Technical Notes
Edwin Naranjo Sierra, Exploration Manager of Copper Giant is the designated Qualified Person within the meaning of NI 43-101 and has reviewed and verified the technical information in this news release. Mr. Naranjo holds a MSc. in Earth Sciences and is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM).
The Mocoa Project Exploration Target was completed by Mr. Michael Dufresne (MSc, P.Geol, P.Geo), President and CEO of APEX, an independent Qualified Person as defined by NI 43-101 and he has reviewed and approved of the disclosure herein.
Current Mineral Resource Estimate for the Mocoa Project
LOCATION | CATEGORY | MTONNES | CuEq 2 | Cu | Mo | CuEq | Cu | Mo |
Oxide and | Inferred | 139 | 0.41 | 0.32 | 0.026 | 1.25 | 0.99 | 78.3 |
Sulphide | Inferred | 497 | 0.46 | 0.33 | 0.04 | 5.06 | 3.61 | 432.7 |
Total | Inferred | 636 | 0.45 | 0.33 | 0.036 | 6.31 | 4.6 | 510.5 |
Notes:
- The mineral resources were estimated in accordance with CIM Definition Standards for Mineral Resources and Reserves.
- In-pit resources are contained within an optimized shell generated using US$3.00 /lb Cu and US$10.00 /lb Mo; CuEq %= Cu % + 3.33 × Mo %.
- Base-case cut-off grade: 0.25 % CuEq.
- Metal recoveries applied: 90 % Cu, 75 % Mo (preliminary historical internal metallurgical testing).
- Optimized-pit parameters: Cu US$3.00/lb, Mo US$10.00/lb, 45° slope, mining cost US$2.50 /t, G&A US$2.00 /t, processing cost US$10.00 /t.
- Effective date: 1 November 2021.
- Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
- Cautionary note: a Regional Forest Reserve formerly overlapped the western part of the deposit, limiting the pit to 325 Mt at 0.46 % CuEq. Subsequent boundary updates confirmed no overlap between the Reserve and the known Mocoa resource (refer to Copper Giant's news release dated November 12, 2024).
1For further information refer to NI 43-101 Technical Report, entitled "Technical Report on the Mocoa Copper-Molybdenum Project, Colombia ", dated January 17, 2022, prepared by Michael Rowland Brepsant, FAusIMM, Robert Sim, P.Geo, and Bruce Davis, FAusIMM. with an effective date of November 01, 2021.
About the Mocoa Porphyry System
The Mocoa project is located in the department of Putumayo, approximately 10 kilometres from the town of Mocoa in southern Colombia. Copper Giant holds a district-scale land package of over 790 square kilometres through granted titles and applications, covering a substantial portion of the Jurassic porphyry belt - an underexplored and highly prospective metallogenic zone in the northern Andes.
Discovered in 1973 through a regional geochemical survey by the United Nations and the Colombian government, Mocoa has been the subject of multiple exploration campaigns. Between 1978 and 1983, follow-up work included geological mapping, IP and magnetic geophysics, surface sampling, drilling, and metallurgical testing. Additional drilling by B2Gold in 2008 and 2012 helped shape the current geological understanding.
The deposit is hosted in Middle Jurassic dacite and quartz-diorite porphyries intruding andesitic to dacitic volcanics, within Colombia's Central Cordillera. This 30-kilometre-wide tectonic belt extends into Ecuador and hosts other major porphyry systems like Mirador, Warintza, San Carlos, and Panantza. Mocoa displays a classical porphyry-style alteration zonation: potassic core, sericitic halo, and outer propylitic zone, with mineralization consisting of disseminated chalcopyrite and molybdenite, and local bornite and chalcocite, associated with stockworks and hydrothermal breccias.
The system features over 1,000 metres of vertical continuity, overlapping hydrothermal stages, and a broad alteration footprint. Multiple intrusive phases, brecciation events, and vein generations suggest a dynamic magmatic-hydrothermal evolution likely driven by more than one porphyry center.
Mocoa remains open in all directions, with several satellite targets identified across the broader land package. These features support the interpretation of a district-scale porphyry system and position Mocoa as one of the most significant undeveloped copper-molybdenum assets in the Andes.
About Copper Giant
Copper Giant Resources Corp. is part of the Fiore Group, a private and well-established Canadian organization known for building successful, high-impact companies across the natural resource sector. Copper Giant was formed with a singular focus: to advance high-quality copper projects beyond resource definition-responsibly, efficiently, and with long-term positive impact.
The Company is led by a team with uncommon experience, having successfully taken some of the few major copper mines developed in the past two decades from discovery through to construction.
Copper Giant's current focus is the Mocoa copper-molybdenum deposit in southern Colombia, one of the largest undeveloped resources of its kind in the Americas. Recent exploration success has revealed potential well beyond its original footprint, highlighting Mocoa as a broader district-scale opportunity-and the catalyst for the Company's name and evolution.
Guided by the values of respect and responsibility, and grounded in its Good Neighbor philosophy, Copper Giant is committed to creating enduring value for all stakeholders and playing a meaningful role in the global energy transition.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, including statements regarding the potential exploration target and its ability to expand the mineralization envelope of the Mocoa Project, the timing and potential to issue and the results of an updated technical report; the outcome of the Company's Exploration Target; other activities and achievements of the Company, including but not limited to: the timing and success for the advancement of the Mocoa Project, the expansion of the Mocoa resource base; are to be considered forward looking. Although Copper Giant 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 the uncertainty if further exploration will result in the Exploration Target being delineated as a mineral resource, market prices and volatility with the Company's common shares, exploitation and exploration successes, uncertainty of reserve and resource estimates, risks of not achieving production, continued availability of capital and financing, processes, permits and filing requirements, risks related to operations in foreign and developing countries and compliance with foreign laws and including risks related to changes in foreign laws and changing policies related to mining and local ownership requirements in Colombia, and general economic, market, political or business conditions and regulatory and administrative approvals. 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.
SOURCE COPPER GIANT RESOURCES CORP.
Additional Information: Ian Harris, Chief Executive Officer, +1 604 294 9039, [email protected]; Tetiana Konstantynivska, Vice President Investor Relations, +1 778 829 8455, [email protected]
