Coppermoly (ASX: COY) has updated the market on its latest results from a drilling program at the Nakru prospect in West New Britain, Papua New Guinea.
A single drill hole intersected:
- 26 metres at 0.11% copper and 0.12g/t gold from 3 metres;
- 35 metres at 0.13% copper and 0.21g/t gold from 40 metres;
- 43 metres at 0.94% copper and 0.35g/t gold from 107 metres; and
- 5.5 metres at 0.19% copper from 211 metres.
Importantly, these results improve the confidence in the boundaries and the geological model for known mineralisation which defines the north-western margins of the Nakru-1 prospect.
To date Barrick (PNG Exploration) has spend A$24.6 million on Coppermoly's Simuku, Nakru and Talelumas leases under the West New Britain Project Letter Agreement.
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