Big Red comprises 20 contiguous claims totalling 26,000 hectares in northwestern British Colombia, 45 kilometres southwest of Telegraph Creek along the Barrington Road. Big Red lies within the Golden Triangle 70 kilometres north of Galore Creek and 100 kilometres west of Red Chris. The Golden Triangle is a geological province of prodigious copper and gold mineralisation and host to some of Canada’s most famous mines, including Premier, Red Chris, Snip, Brucejack and Eskay Creek. Within the Golden Triangle porphyry copper and gold, epithermal gold and silver and volcanogenic massive sulfide styles of mineralisation have all been recognised. At Big Red all three of these styles exist, indicating that a large mineralised system has been preserved from erosion. The primary porphyry copper-gold targets are peripheral to a distinct large magnetic-high feature and coincide with a radiometric potassium anomaly, copper, gold, silver and molybdenum anomalies and a mapped Jurassic aged porphyry intrusion.
This is the first time that the entire project has been consolidated under one operator. In 2017 a high-resolution helicopter-borne magnetic and radiometric survey was flown over the entire property on 200-metre spacings. Successful surface rock chip and soil sampling programs have been undertaken since 1963 on individual claims. Thirty-five assessment reports have been digitized and consolidated identifying multiple porphyry copper and gold and epithermal gold targets. Libero's initial work program in 2019 included reconnaissance prospecting over a large area, continuous rock chip samples and a ZTEM electromagnetic airborne survey. A five-year area-based exploration permit for geophysics and drilling was received in September 2019. Property-wide surface exploration work by Libero collected 892 surface samples in 2019 in addition to 3,671 historical samples. Libero's samples were analyzed for a suite of 35 elements, allowing for multi-element characterization of anomalies. This analysis identified 19 target areas with anomalous gold-silver-copper plus other pathfinder elements.
These targets were further advanced with detailed mapping and sampling during 2020. An initial drill program of 4 holes late in the 2020 season discovered the Terry porphyry copper project. Each of the holes was mineralized from surface to end of hole including 120 metres of 0.43% copper equivalent. A 5,000 metre diamond drill program is commencing in June 2021 to test the target at depth and step out.