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 Ltd, Quarterly Activities Report for Period Ending 31 December 2011
01 Feb,2012 02:32 PM

HIGHLIGHTS

- Coppermoly to form a joint venture with Barrick and retain a 28% interest in three tenements at Nakru, Simuku and Talelumas projects in PNG with cash contributions delayed until the completion of feasibility

- Drilling at the Simuku copper-molybdenum-silver porphyry system shows 1001.9 metres of 0.24% copper and 60ppm molybdenum

- Golder Associates appointed to upgrade the Inferred resource at Simuku and estimate a maiden Inferred Resource at Nakru-1

- First ever drillhole into the Nakru-4 System intersects copper and gold mineralisation

- Geophysical survey at the Esk Trough Project in south-east Queensland planned to begin in February.

ABOUT COPPERMOLY

Queensland-based copper exploration company Coppermoly Limited (ASX:COY) is focused on exploring for and developing copper-gold deposits. It has two projects, Simuku and Nakru-1, on New Britain Island, Papua New Guinea and another three tenements nearby under application. The Simuku Project has an Inferred Mineral Resource of 200 million tonnes at 0.47% copper equivalent, and a maiden Inferred Resource for the Nakru-1 Project is expected in 2012.

Both the Simuku and Nakru projects are within a four-hour drive from the provincial capital of Kimbe, which has businesses, roads, shops, electricity and a deep water port (refer to Photo 1) that supports the region’s growing oil palm industry. These local services are essential for the future development of Coppermoly’s projects.


To view full Report please download PDF below: