Coppermoly to evaluate high grade historical samplNGG
retains anapproximate 50% interest in ASX-listed Coppermoly Limited, which isexploring copper/molybdenum/gold assets, specifically the Mt. Nakru andSimuku projects.
The McNeil PR machine is getting busy !!!
https://www.proactiveinvestors.com.au/companies/news/1716/coppermoly-to-evaluate-high-grade-historical-samples-in-png-1716.html
Coppermoly to evaluate high grade historical samples in PNG
CopperMoly(ASX: COY) has decided to evaluate high grade gold and copper sampleshistorically collected within the Talelumas tenement in Papua NewGuinea. This license area encompasses the northern periphery of theSimuku tenement area.
Rock outcrop samples that surrounds the Simuku EL include:
- 7.89% copper and 0.85 g/t gold at the Nakru Creek Prospect,
- 0.86% copper and 0.77 g/t gold at the Isme Creek Prospect and
- 3.56 g/t gold at the Talelumas Creek Prospect.
AnInferred Mineral Resource was recently estimated for the Simuku Depositcontaining 200 million tonnes grading 0.47% copper equivalent.
Thesethree prospects are currently being followed-up with soil and rocksampling plus geological mapping. The objectives are to evaluate thesurface extent and the styles of gold and copper mineralisation in eacharea.
The Talelumas Exploration Licence EL1445 encompasses thenorthern periphery of the Simuku tenement and is within a one hourdrive from the provincial capital of Kimbe. The area was explored byCRA Exploration, BHP, Nord Resources, Esso, City Resources, Macmin NLand Placer (PNG) Exploration from 1965 to 1995.
The surface geochemistry shows zonation patterns which may be attributable to porphyry style mineralisation.
CopperMolyis focussed on exploring for copper-gold-molybdenum and gold depositson the island of New Britain in Papua New Guinea. It holds title tothree Exploration Licences EL 1077 (Simuku), EL 1043 (Mt. Nakru) and EL1445 (Talelumas) covering a total area of 170 km2. Initial drilling hasdemonstrated significant copper grades near surface associated withgeophysical anomalies and willl undertake further drilling.