11:04 AM EST, 01/13/2025 (MT Newswires) -- Libero Copper & Gold ( LBCMF ) 's shares were last seen down 9% after the company on Monday it reported progress in its 14,000-meter resource-expansion drilling program at the Mocoa porphyry copper-molybdenum deposit in Colombia.

The company said it is starting to drill the second hole MD-045, seeking to test the extension of the western-trending brecciation further south and continuation at depth.

MD-045 has reached 250 meters of its planned 1,200-meter target depth, Libero said.

"By focusing on structural understanding and resource optimization, we're not just advancing Mocoa-we're laying the groundwork for long-term success," said chief executive Ian Harris. "This deposit continues to exceed our expectations with its near-surface, high-grade copper-molybdenum mineralization extending to significant depths, and we're just beginning to uncover its true potential."

Libero shares were last seen down $0.03 to $0.31 on the TSX Venture Exchange.

Price: 0.31, Change: -0.03, Percent Change: -8.96