09:07 AM EDT, 03/25/2025 (MT Newswires) -- Libero Copper & Gold ( LBCMF ) said Tuesday that it is mobilizing a second drill rig to accelerate its 14,000-meter resource expansion drilling program at the Mocoa porphyry copper-molybdenum deposit in Colombia.

The company said it is targeting new exploration zones within the hydrothermal footprint, identified through geological, geophysical, and geochemical data.

Mobilization will begin in the coming weeks, Libero said.

"By adding a second rig, we can accelerate our understanding of these overlapping mineralization events while expanding the deposit at a much faster pace," said Ian Harris, Libero's president and CEO. "Ultimately, we see Mocoa's footprint growing significantly, and this additional rig is a crucial step in realizing its full potential," Harris added.

The company said its drilling has intersected significant mineralization in multiple directions, well beyond the current resource boundary.

The shares surged 20% on Monday from 52-week lows to $0.24 on the TSXV.