Coppermoly has received extremely encouraging assay results from the Nakru 2 prospect following the recently completed exploration drilling program at Mt Nakru Copper-Gold Project in Papua New Guinea.

The drilling has identified mineralised downhole intervals of over 30 metres at greater than 2.5% copper. The style and shape of this mineralisation tends to indicate that this is related to a volcanogenic massive sulphide style deposit, and is backed up by the level of sulphur in the assays received.

The holes also intersected bands of elevated zinc and silver within the massive sulphide unit, which adds credence to the possibility that Nakru 2 is a style related to volcanogenic massive sulphide mineralisation.

Five diamond core holes were drilled at Nakru 2 for a total of 1011.80 metres testing the extension of mineralisation. Nakru 2 is only 1500 metres west of the Nakru 1 prospect.

Significant intersections include: 2 metres from 28 metres @ 4.2% zinc and 36.5 g/t silver, 4 metres from 40 metres @ 7.13% copper, 1.8 metres from 60.9 metres @ 0.57% copper, 14 metres from 84 metres @ 0.79% copper, 1.62 metres from 103.38 metres @ 0.79% copper and 2 metres from 198 metres @ 0.6% copper; 2 metres from 32 metres @ 1.1% zinc, 38 metres from 92 metres @ 0.87% copper including 8 metres @ 1.58%, 10 metres from 138 metres @ 0.51% copper and 2 metres from 186 metres @ 8.5% zinc.

Others include: 2 metres from 14 metres @ 1.1% zinc and 10 g/t silver, 9.7 metres from 18 metres @ 2.06% copper, 16 metres from 50 metres @ 0.69% copper, 32 metres from 82 metres @ 2.58% copper and 6.16 metres from 121.84 metres @ 0.6% copper; 14 metres from 48 metres @ 1.04% copper, 16 metres from 76 metres @ 1.06% copper, 6 metres from 114 metres @ 0.86% copper and 6 metres from 148 metres @ 0.54% copper; 10.37 metres from 15.63 metres @ 3.75% copper, 4 metres from 54 metres @ 2.2% zinc and 15 g/t silver, 3.9 metres from 80.1 metres @ 1.1% copper, 2 metres from 120 metres @ 1.65% copper, 12 metres from 148 metres @ 1.37% copper, 2 metres from 184 metres @ 0.87% copper and 2 metres from 200 metres @ 0.73% copper.

Coppermoly director Dr Wanfu Huang said, “We are extremely excited by the fact that new drilling at the Nakru 2 prospect revealed that the high grade copper mineralisation extends further to the west and to the south of previous drilling.

“It is expected that further work will help to define the scale of the mineralisation system, and the resources it contains.

“This is a great addition to the drilling results from the Nakru 1 deposit. The relatively close proximity of the two deposits and shallow depth of mineralisation increases the economic potential of the Nakru prospect.”

The prospect remains open and further exploration is required to uncover the potential tonnage and grade of this deposit.

www.coppermoly.com.au

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