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Coppermoly Ltd.
Summary
| Project: | Simuku | |
|---|---|---|
| Deposit: | Simuku | |
| Location: | Papua New Guinea | |
| Commodities: | Copper-Gold-Silver-Molybdenum | |
| Date: | 3/4/2020 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 4-3-2020: Coppermoly Ltd. announces a Resource Estimation report for its Simuku deposit at the Simuku project. Updated Mineral Resource Estimate for the Simuku Project. Coppermoly Limited (“Coppermoly” or “the Company”) is pleased to announce the results | |
| Resources: | (Resources, Inf.): 373.6Mt @ 0.31% Cu, 0.05g/t Au, 2.2g/t Ag 59ppm Mo | |
| CP/QP: | [Resources]: Simon Tear (H&SC Consultants Pty Ltd.) | |
| ABSTRACT: | Coppermoly Limited (“Coppermoly” or “the Company”) is pleased to announce the results of an update of the copper-molybdenum-gold Mineral Resource on the Simuku Project on the island of New Britain, Papua New Guinea. The Company has updated the 2009 Mineral Resource1, taking into consideration deeper drilling completed between 2009 and 2012 and recent advances in the Company’s geological understanding of the Simuku Project. The Simuku copper-molybdenum-gold Mineral Resource has been updated as 373.6Mt @ 0.31% Cu, 58.5g/t Mo and 0.05g/t Au, at a 0.2% Cu cut-off, and has been classified as Inferred in accordance with the 2012 JORC Code & Guidelines Coppermoly’s Managing Director Dr. Wanfu Huang commented that achieving a 90% increase to the Simuku porphyry copper-molybdenum-gold Mineral Resource was an excellent result which clearly demonstrates the overall significant potential of the project. “We have undertaken a thorough re-evaluation of the Simuku project, incorporated the results of some deeper drilling underneath the previous Mineral Resource2 and we have been able to increase the Inferred Mineral Resource from 200Mt to 374Mt, so this is an excellent result.” | |
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