Mineral explorer Coppermoly Limited has announced drilling plans at its Nakru-02 prospect on New Britain Island. Exceptionally high-grade copper assays received from a surface sampling program in late 2013 have identified the area as the company’s priority exploration target.

The sampling was focused on areas that were expected to be mineralized, which were confirmed by assay results. The nature of the copper mineralization in the samples is most encouraging for elevated grades to persist with depth.

The recent sampling over an area of 1sqkm indicates that mineralization at Nakru-02 may extend a further 400 metres to the west than previously thought. Surface mineralization now extends over a strike length of 800 metres in an east-west direction. The western zone appears to be a separate IP anomaly, however thick ash cover in the intervening area may interfere with geophysical and geochemical responses.

Only three diamond core holes have previously been drilled into Nakru-02 testing a strike length of only 150 metres. All three holes intersected elevated copper-gold mineralization including narrow high grade zones that reflect the results of the recent surface sampling.

Nakru-02 has many similarities with Coppermoly’s Nakru-01 deposit about 1km to the east. Nakru-01 has a JORC inferred resource of 38 million tonnes @ 0.6% copper and 0.3 grams/tonne gold. Nakru-01 has in excess of 20 drill holes drilled over a strike length of 500 metres.

“We’re very excited to get the drilling program under way,” Coppermoly’s managing director Maurice Gannon said. “We’ve wanted to focus on this target for a long time. The recent sampling results have given us even more reason to mobilize the drilling as soon as possible.”

Coppermoly has a diamond rig at its exploration base in Kimbe, on the north coast of West New Britain, and is undertaking a community awareness program and preparing the deployment of the exploration and drilling crew. The Nakru exploration licence is accessible by dirt road from Kimbe.  

Coppermoly’s mineral exploration activities are focused entirely on the island of New Britain where it holds five exploration licences and an additional two under application. These licences cover copper, gold, silver, zinc, molybdenum and iron mineralization. The five current tenements are Simuku, Talelumas, Nakru, Makmak and Powell. The two applications are Wowonga and Fulleborn.
www.coppermoly.com.au

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