VANCOUVER, BC / ACCESSWIRE / September 13, 2024 / Ibero Mining Corp., (TSX.V:IMC)(OTCQB:AUCCF) (the "Company" or "Ibero") formerly known as EuroPacific Metals Inc., officially began trading effective at today's opening under its new ticker symbol "IMC" on the TSX Venture Exchange.
Karim Rayani, Chief Executive Officer and director stated: "We are very pleased to announce the rebranding of EuroPacific Metals Inc. to Ibero Mining Corp., marking a pivotal shift in our strategy towards mineral resource exploration in the Iberian Peninsula. This new identity better reflects our focus on high-potential projects, particularly within the Iberian Pyrite Belt, one of the most mineral-rich regions in the world. The Company remains committed to its flagship asset the Miguel Vacas project where recent drilling intersected on 22.8m grading 2.76 % Cu from 49.4m with 9m grading 7.49% Cu from 57.8m on our very first hole, assays are pending on hole 11 where we undercut the first-high grade sulfide intersection."
The rebranding marks a pivotal shift in the Company's focus towards mineral resources in Europe, particularly along the Iberian Peninsula. The change emphasizes their efforts in the Iberian Pyrite Belt, a region rich in polymetallic sulfides, including copper, zinc, lead, and gold. The Company remains committed to low-cost, efficient resource extraction while supporting EU resource initiatives. Importantly, there will be no changes in the Company's capitalization, and shareholders do not need to take any action regarding the name or symbol.
Miguel Vacas, Prospect - Borba Property, Portugal
The Company has completed 11 holes at the Miguel Vacas copper deposit totaling 1,410m. Most of the holes intercepted a wide quartz-breccia zone varying from approximately 5m up to more than 30m thick. An undercut > 350m hole was completed in addition to the initial plan.
Copper mineralization is hosted in a polyphase steeply dipping hydrothermal quartz breccia-oriented NNE-SSW. The shallower part of the breccia zone (<80m) has been mined by open pit methods and minor underground methods on the upper 80m of a supergene blanket and cupper was recovered through a heap leaching operation using sulphuric acid followed copper electrodeposition in pools with iron scrab.
Results have been received for eight of the eleven holes drilled to date. All holes have successfully intersected the breccia zone over a strike length of 1.1km and confirmed it is open along strike both to the north and south.
Significant results include (further details are summarized in the table below):
Hole # 1 - 22.8m grading 2.76 % Cu, from 49.4m with 9.0m grading 7.49% Cu from 57.8m
Hole # 3 - 12.3m grading 1.55% Cu, from 66.6m.
Hole #4 - 10.5m grading 2.56 % Cu, from 62.0m, with 5.0m grading 4.52% Cu, from 62.0m
Hole #8 - 14.1 m grading 1.06% Cu from 47.0m, with 6.9m grading 1.81% Cu, from 52.2m
Hole #10 - 7.9m grading 1.15% Cu from 74.9m
Based on these findings, a decision was made to drill a deeper hole (Hole #11) to investigate the primary ore at depth and to compare it with shallow intercepts regarding mineralogy, grades and thickness. Assays are still pending and we look forward to reporting on the final assays once received.
About Ibero Mining Corp.
Ibero Mining Corp. is a Canadian public company listed on TSXV and in US on OTCQB. The Company holds brownfield gold, and copper-gold projects located in Portugal. The Company is focused on exploration in highly prospective geological settings in European jurisdictions. Ibero Mining Corp. (IMC) owns a total of 100% equity interest in EVX Portugal, a private Portugal based company, that holds the legal exploration rights from the Portugal Government on the Borba exploration property, covering approximately 328 square kilometers in the Alentejo region in Southern Portugal. Miguel Vacas is the most advanced prospect within the Borba license.
Qualified Person
Technical information in this PR has been prepared in accordance with National Instrument 43-101 and approved for inclusion by Mr. José Mario Castelo Branco, EuroGeol, who is a "Qualified Person" with over 35 years' experience in the Exploration and Mining Geology industry. Mr. Castelo Branco holds a B.Sc. in Geology from the University of Porto in Portugal. He is also a member of the Portuguese Association of Geologists, the European Federation of Geologists, Member of the Prospectors and Developers of Canada, the Society of Economic Geologists and the Society for Geology Applied to Mineral Deposits.
On behalf of the Board of Directors
Ibero Mining Corp.
Mr. Karim Rayani, Chair & Chief Executive Officer
11th Floor - 1111 Melville Street
Vancouver, BC V6E 3V6
E: k@r7.capital
www.iberomining.ca
Neither 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.
Cautionary Language and Forward-Looking Statements
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE: Ibero Mining Corp.
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