HIGHLIGHTS
- Geophysical three dimensional induced polarisation surveying completed at the Esk Trough copper-gold project in Queensland
- Reverse circulation drill rig currently being mobilised to commence drilling at Esk Trough to test near surface copper-gold mineralisation
- Independent consultants Golder Associates reviewing drilling results with a view to increasing the existing Inferred resource at Simuku Project, PNG and complete a maiden Inferred resource for the Nakru-1 copper-gold project, PNG
- Drilling by Barrick intersected significant molybdenum mineralisation at the Simuku Horseshoe prospect to more than 600 metres depth
- Drilling at the Kulu prospect, 6km east of Simuku, intersected copper mineralisation from 93m to 442m depth including:
o 27m grading 0.29% Cu.Eq* from 143m depth
o 2m of 0.15% copper and 286 ppm molybdenum from 440m depth
Queensland-based copper explorer Coppermoly Limited (ASX:COY) is pleased to report its activities on the Company’s copper-gold projects on New Britain Island, Papua New Guinea and south-east Queensland for the quarter ending 31 March 2012.
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