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Coppermoly Ltd.

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Summary

Project:

Mt Nakru

Deposit:Nakru 1
Location:Papua New Guinea
Commodities:Gold-Copper-Lithium-Lead-Sulphur-Zinc-Silver-Arsenic-Molybdenum-Bismuth
Date:4/19/2017
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resource Increase/Upgrade
Report details:19-4-2017: Coppermoly Ltd. announces an Exploration/Drilling Update report for its Nakru 1 deposit at the Mt Nakru project. Drilling results incl. 49.66m @ 1.84% Cu, 2.66g/t Au from 74.00m. Coppermoly Ltd (Coppermoly or the Company) is pleased to announce
Resources:(not mentioned in this report)
CP/QP:[Overall Report]: Donald Macansh (Internal)
ABSTRACT:Coppermoly Ltd (Coppermoly or the Company) is pleased to announce that it has received the remaining certified assay results for the Nakru 1 prospect following the recently completed exploration drilling program at the Company’s most advanced project, EL 1043 the Mt Nakru Copper-Gold project. A total of 14 diamond core holes were drilled during the program for a total of 2,900.2 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 the nine holes drilled at the Nakru 1 prospect have now been received. The six remaining holes are reported in this release. There are five holes at Nakru 2 prospect for which assays are still pending. These will be reported as soon as the certified results are received. 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.” This 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.

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