Coppermoly has received exceptionally high grade copper assays from rock chip and float samples collected over the Nakru-02 prospect at the Nakru exploration licence on New Britain Island.
Best results from rock chip samples collected from mineralized outcrops are 24%, 5.15%, 3.4% and 1.88% copper. Samples were taken at 3 to 5 metres intervals from outcrops.
Best results from float samples are 20.6%, 11.2%, 6.68%, 5.9% and 2.31% copper. Float samples are, by definition, not in-situ but are considered strongly representative when there is similar rock type in nearby outcrop.
Float samples also returned the following gold assays – 2.69 grams/tonne, 2.62 grams/tonne and 1.08 grams/tonne.
Coppermoly collected 125 rock chip and float samples which were dispatched for preparation and assaying at SGS (PNG) and further assaying by SGS (Australia).
“These assay results, which include some of the highest copper assays ever obtained on New Britain Island, are just the highlights of a very successful sampling program that very strongly supports our strategy of targeting the Nakru-02 prospect for its potential to rapidly enhance shareholder value,” Coppermoly’s managing director Maurice Gannon says.
“We have a drill rig already at our New Britain exploration base and will mobilize it to the area during the current quarter. This is being given top priority. We’ve been planning the drilling program in anticipation of receiving these assay results. They’ve exceeded our expectations. The Nakru project is rapidly becoming recognized as the premium prospect in an area that is shaping-up as a new mineral province.”
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 tenement applications are Wowonga and Fulleborn.