Coppermoly is focussed on exploring for and developing copper – gold – molybdenum  and gold deposits in highly prospective Papua New Guinea on New Britain Island. Through an agreement with Barrick Gold Corporation, their projects are being assessed for their economic mineral potential through an on-going drilling programme.

Drilling confirms a major copper mineralised system at Nakru.At the Nakru-1 Prospect drilling intersected 213.75m grading 0.92% copper and 0.33 g/t gold. Drilling in 2010 confirmed mineralisation extendng to over a 500m strike length to at least 200m depth.

The Nakru-2 Prospect is one kilometer to the west of Nakru-1. Drilling by Coppermoly in 2008 intersected 54m grading 1.22% copper from 30m depth. This included an upper zone of primary massive sulphide of 8m grading 3.8% copper. In a drillhole 100m further west, Barrick intersected 64m of 0.59% copper.

The Simuku porphyry copper system has an Inferred Mineral Resource of 200 million tonnes grading 0.47% copper equivalent (0.3% Cu.Eq. cut-off) for 700,000 tonnes of copper (1.5 billion pounds). An overlying secondary enrichment blanket of copper mineralisation occurs in eleven drillholes including a 16m thick intersection at 1.0% copper.
Videos
Dec,2011 09:45 AM
Coppermoly (ASX: COY) adding t..
15 Dec 2011 – Coppermoly Limited (ASX: COY) MD, Peter Swiridiuk gives an update on drilling at Simuku and Nakru-1; the company’s tenements under application on New Britain Island; and explains what attracted it to the Esk Trough in Queensland.
Company Presentations
Apr, 12 2012 - Coppermoly Limited (ASX:COY) Managing Director, Peter Swiridiuk, details the company’s exploration for major copper-gold systems in Pap...
Coppermoly Limited (ASX:COY)
Company Directors
Mr Bob McNeil (Non Exec. Director)
Mr Ces Iewago (Non Exec. Director)
Mr Dal Brynelsen (Non Exec. Chairman, Non Exec. Director)
Mr Maurice Gannon (Executive Director, Alternate Director)
Mr Peter Swiridiuk (Managing Director)
Contact Information
Phone: 07 5592 2274
Email:
Website:

Address
Level 1, 94 Bundall Road, BUNDALL, QLD, Australia, 4217
Media Releases
Coppermoly Limited, Appointment of Golder Associates to Estimate Maiden Resource at Nakru-1
02 Feb,2012 11:22 AM

Queensland-based copper explorer Coppermoly Ltd has appointed independent consultants Golder Associates to review all drillhole data from its Nakru-1 copper-gold system in Papua New Guinea, with a view to estimating a maiden Inferred Resource for the project. Golder Associates will also review all drillhole data at Coppermoly’s Simuku copper-molybdenum system, also in PNG, in order to upgrade the existing Inferred Resource. Results are expected in April.

Both the Simuku and Nakru-1 projects are located on PNG’s New Britain Island. They are within a four-hour drive from the provincial capital of Kimbe, which has businesses, roads, shops, electricity and a deep water port that supports the region’s growing oil palm industry. These local services are essential for the future development of Coppermoly’s projects.

The Nakru-1 copper-gold system is the most advanced prospect within the Nakru tenement with 27 diamond drillholes completed for 5,928.4 metres. During 2010, a diamond drillhole through the centre of an untested geophysical chargeability anomaly intersected 213.75 metres grading 0.92% copper and 0.33 g/t gold from 74.45 metres depth. With subsequent drilling of the western portion of the anomaly, Nakru-1 has an exploration target of 50 to 60Mt grading 0.7 to 0.9% copper within the bounds of the existing drillholes.


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