Queensland-based copper explorer Coppermoly Limited (ASX:COY) (“the Company”) is pleased to announce the commencement of an approximately 1675-metre reverse circulation (RC) drilling programme on its farm-in venture at Esk Trough, Queensland.
The drilling programme is designed to test for extensions to significant copper and gold grades near surface at the Kakapo and White Horse prospects within the Booubyjan tenement.
Coppermoly has a farm-in agreement with ActivEx Limited (ASX:AIV) at the highly prospective Esk Trough Project which consists of five exploration permits in south-east Queensland, a four-hour drive north-west of the state capital of Brisbane and 80km west of Gympie. AIV is managing the first stage of the exploration program. Coppermoly can earn a 51% interest in the project by spending $3 million over three years and can further elect to advance its interest to 70%.
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