Coppermoly has received the remaining assay results for the Nakru 1 prospect following exploration drilling at its most advanced project, the Mt Nakru Copper-Gold project in Papua New Guinea. The results have been described as being extremely encouraging.

A total of 14 diamond core holes were drilled for a total of 2900.2 metres as part of an infill drilling program aimed at upgrading the resource to an indicated category at Nakru 1 and testing the extension of mineralisation at Nakru 2.

The certified assay results for all nine holes drilled at the Nakru 1 prospect have now been received. There are five holes at Nakru 2 prospect for which assays are still pending.

The drilling has identified high grade copper and gold mineralisation extending over significant intersections only being interrupted by later stage mafic dykes and sills. These intrusives are easily identified and will not dilute the mineralised material during extraction.

The breadth and depth of this mineralised envelope is yet to be defined, and will be tested with further drilling.

Significant intersections from the most recent results include: 4 metres from 24 metres @ 1.76 g/t gold, and 55.2 metres from 54 metres @ 1.11% copper, including 4 metres @ 1.99 g/t gold; 1.45 metres from 40.55 metres @ 1.2% copper, 4 metres from 64 metres @ 1.34% copper, 9.8 metres from 72 metres @ 0.99% copper, 8 metres from 90 metres @ 1.13% copper, and 27.42 metres from 134 metres @ 1.10% copper, including 4.40 metres @ 1.8 g/t gold; and 12 metres from 6 metres @ 3.52 g/t gold, 28 metres from 26 metres @ 1.01% copper, including 3.5 metres @ 2.12% copper, and

50.40 metres from 114 metres @ 1.45% copper.

Other strong results include: 4 metres from 4 metres @ 11.10 g/t gold, 4 metres from 64 metres @ 1.72 g/t gold, 49.66 metres from 74 metres @ 1.84% copper and 2.66 g/t gold, and 14 metres from 142 metres @ 1.45% copper and 1.11 g/t gold; 10 metres from 30 metres @ 0.86% copper, 2 metres from 132 metres @ 1.04% copper, and 4.90 metres from 140 metres @ 2.32 g/t gold; and 19.10 metres from 30 metres @ 3.64% copper and 0.2 g/t gold, and 2 metres from 174 metres @ 4.25 g/t gold.

Coppermoly director Dr Wanfu Huang said, “The recent results received for the Nakru 1 prospect are extremely encouraging and the company is now in a position to use this new information to update the model. This work is expected to commence immediately.”

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