Coppermoly confirms continuity at Nakru-1

COPPERMOLY says results from its two remaining drillholes at Nakru-1 demonstrate the continuity of gold and copper mineralisation to more than 500 metres in strike length within a larger anomaly.
Coppermoly confirms continuity at Nakru-1 Coppermoly confirms continuity at Nakru-1 Coppermoly confirms continuity at Nakru-1 Coppermoly confirms continuity at Nakru-1 Coppermoly confirms continuity at Nakru-1

A cross-section through the two holes shows the nature of copper mineralisation which becomes more continuous near the core of the system.

More than $9 million was spent by Barrick PNG Exploration, the operator, in 2010 and plans are underway for further drilling this year.

The prospect is about a four-hour drive from existing infrastructure, including a deepwater port which will be essential for future development.

An agreement between Coppermoly and Barrick allows Barrick to spend $20 million to earn 72% of the Nakru, Simuku and Talelumas prospects.

Meanwhile, recent 3D induced polarisation data has returned a chargeability anomaly about 150m below the surface at Nakru-4.

A chargeability anomaly was also detected over the Nakru-3 copper prospect.

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