Don
You can do it 2 ways;
1) Just move the Library (the books) and leave the program (32 or 64 bit) as is. (this is the way I normally run. I have an old (dead) Laptops HD in a USB case.)
With Calibre Shut down: Copy/Move the
ENTIRE Library folder to the New location.
Now start Calibre: (if you moved the old Library, you will see a 'can't find' message, just point it to the new location.

Use Windows Disk Manager to Assign a permanent (upper range) single drive letter (L: for Library

works). That way you don't change letters with a number of USB storage devices attached or a USB port change.
2) Calibre Portable (32 bit, Windows only).
the Way I did it:
a) Installed Calibre Portable to the new drive.
b.1) Shutdown Portable if it opens.
b.2) Open the folder
L:\Calibre Portable\Calibre Library. delete the (3?) files/folders inside, (they will be replaced. THIS ASSUMES you have not added any books to that Library that you wish to keep. )
b.3) Copy the
ENTIRE CONTENTS of you old library
into L:\Calibre Portable\Calibre Library
c.1) copy the contents of your (old) Calibre Configuration Directory
into
L:\Calibre Portable\Calibre Settings
Adjust your usage of the drive letter above to match your situation