Explorer gets licence for gold, copper ops

Coppermoly has finally been granted an exploration licence on the south coast of New Britain.
Significantly, the Makmak tenement, covering 280sqkm is only 9km south of the company’s Nakru tenement where drilling intersected 190.85m at 1.01% copper and 0.36 gram per tonne gold at Nakru-1.
The company expects to announce a maiden inferred mineral resource for Nakru-1 and an upgraded estimate for Simuku this month.
During reconnaissance sampling in 2010, Coppermoly collected surface rock float samples at the ‘Pulding’ prospect including 10.7% copper and 15.5 gram per tonne silver, 1.18% copper, 0.64% copper, 2.91% copper and 0.65% copper.
The licence is located on the highly prospective Kulu Awit on the island province, transfer structure host to gold-silver and copper, gold, molybdenum and silver systems with access available via 4WD from New Britain Island’s provincial capital, Kimbe.

These samples were within granitoid type rocks associated with a geophysical magnetic intrusive target in the eastern section of the tenement.
 The licence is located on the highly prospective Kulu Awit transfer structure host to gold-silver and copper, gold, molybdenum and silver systems with access available via 4WD from New Britain Island’s provincial capital, Kimbe.