Highlights
- In an agreement with Barrick (PNG Exploration) Ltd, Barrick have spent over half of A$20M required to attain a 72% interest in three tenements.
- Drilling and Exploration has defined at least two major Copper-Molybdenum-Gold systems currently undergoing additional drilling.
- Nakru-1: Drillhole intersection of 213.75m grading 0.92% copper and 0.33 g/t gold. Drilling testing mineralisation extents currently over 500m x 200m.
- Simuku: Inferred Mineral Resource of 200 million tonnes at 0.36% copper. Drilling to test higher grade copper zones at depth.
- Projects are located close to major infrastructure including roads, deep water port, airport and general amenities.
- Coppermoly has an additional two tenements under application and is actively looking for additional projects. New Britain Island has a strong interest and is well pegged.
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