Coppermoly Limited (ASX:COY) (“Coppermoly”) is pleased to announce preliminary field results confirming mineralised rock samples collected from its 100% owned EL 2014 Makmak tenement on the south coast of New Britain Island, Papua New Guinea. The Makmak tenement is accessible via 4WD vehicle along logging tracks from Kimbe, the Provincial Capital of West New Britain, on the north coast of the island.
A small exploration team collected 32 rock samples, 2 stream sediment samples and 290 soil samples. Of the 26 rock samples measured in the field by Niton XRF*, 15 contained copper and/or molybdenum mineralisation with nine showing values greater than 1% copper at the Pulding prospect. Laboratory assay results are expected in November.
Rock float sample number 5021 contained black tourmaline with visible copper mineralisation (chalcopyrite, malachite and azurite) with Niton XRF* measurements averaging 33.5% copper.
*Niton XRF measurements are averaged pinpoint readings taken from a number of locations on the surface of each rock sample. These results are considered preliminary estimates only, requiring further confirmation of assay values from an accredited laboratory.
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