Projects - Nakru-01 and Nakru-02
Nakru-01

The Nakru-01 system has a JORC Inferred Mineral Resource of 38.4 million tonnes grading 0.61% Cu + 0.28g/t Au + 1.80g/t Ag (at a 0.2% Cu cut off), containing 233,400 tonnes of copper, 11 tonnes of gold and 69 tonnes of silver.

(Refer to Coppermoly Limited ASX Announcement dated 26 July 2012. This information was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not been materially changed since it was last reported).

Nakru-01 at this stage already has potential for 50 to 60 million tonnes grading 0.7 to 0.9% copper equivalent within the confines of existing drilling. Mineralisation is open to the north and east.

A preliminary study has demonstrated positive economics for the Nakru-01 resource.

There is potential for further drilling in the immediate area to significantly increase tonnage.

Flotation tests undertaken on samples from Nakru-01 demonstrated that normal milling practices would give recovery of 87% of copper and 53% of gold.


Nakru-02

The Nakru-02 system is only 1km from Nakru-01 and shares many similarities. Exceptionally high grade copper assays received from a surface sampling programme undertaken in late 2013 at the Nakru-02 prospect have clearly identified the area as the Company's priority exploration prospect. This programme indicated surface mineralisation at Nakru-02 potentially extends to more than 800m in strike length in an east-west direction.

Drilling has intersected massive sulphide copper including 6.7m at 3.8% Cu at 30m depth, showing the potential of Nakru-02 to extend the overall Mt Nakru resource.

Results from drilling at Nakru-02 to date have included:
- 51.7m at 1.21% Cu including 27.7m at 1.90% Cu and 6.7m at 3.8% Cu
- 73m at 0.96% Cu including 26m at 1.65% Cu
- 64m at 0.59% Cu including 10.2m at 1.59% Cu

Coppermoly collected 125 rock-chip and float samples from the Nakru-02 prospect in late 2013, with results including some of the highest copper assays ever obtained on New Britain Island, such as 24% copper (NK2-1028 - rock-chip) and 20.6% copper (NK2-1120 - float) and gold results up to 2.69g/t gold (NK2-1032 - float).

This sampling indicated that mineralisation at Nakru-02 may extend a further 400m to the west.

Coppermoly plans to undertake drilling of at least four holes into the highly mineralised zone at Nakru-02 suring March 2014.


Plan of the Nakru-02 prospect showing IP anomoly (chargeability at 100m depth), previous drill holes and the locations and resulta of recent rock chip and float sampling programme.