Projects - Talelumas (updated January 2012)

The Talelumas Exploration Licence EL1445 encompasses the northern periphery of the Simuku tenement and is within a one hour drive from the provincial capital of Kimbe. Access tracks built in 2008 for the Simuku camp pass through this tenement.

The area was explored previously by CRA Exploration, BHP, Nord Resources, Esso, City Resources, Macmin NL and Placer (PNG) Exploration from 1965 to 1995. Drainage within the entire tenement was covered by regional stream sediment sampling. Ridge and Spur soil sampling was historically completed at the Mt.Misusu, Talelumas Ck and Isme Ck prospects.

Coppermoly Ltd has taken a total of 40 rock chip and float samples from the three gold and copper prospects at Mt.Misusu, Isme Creek and Talelumas Creek. In addition, 121 soil samples were completed in a soil grid over the Talelumas Creek prospect to follow-up on anomalous gold in historical Ridge and Spur soil sample results.

Historical rock samples at the Isme Creek prospect include 0.86% copper, 0.77 g/t gold, 0.74 g/t gold and 0.58 g/t gold. Recent samples were collected from structurally controlled (1-5m) wide zones of epithermal quartz veins. The prospect occurs as a zinc anomalous area of 2.3 kilometres long by 1.0 kilometre wide and is located on a major structural corridor, the “Kulu-Awit Trend”, which traverses the island. An outcrop sample collected by Coppermoly returned assays of 9.47 g/t gold, 7.94% zinc, 552 g/t silver, 0.15% copper and 7.05% lead. Thirteen samples were taken by Coppermoly with six assaying highly anomalous zinc.

These results present a promising target for ongoing exploration, particularly in light of last year’s drilling at our Nakru project where zinc and other base metals were encountered in semi-massive sulphide. At Nakru-2 prospect, the first two holes drilled by Coppermoly encountered semi-massive sulphide including 7 metres grading 3.36% copper, 2.0% zinc, 0.19g/t gold and 11g/t silver. This promising newly identified style of mineralisation at Isme Creek represents additional economic potential to the larger copper systems under evaluation.

At the Mt. Misusu copper-molybdenum prospect, eight out of the eleven samples collected by Coppermoly  are anomalous in copper including 1.07% copper and 109 ppm molybdenum. These samples occur within a copper anomalous area of 850 metres by 500 metres within which occur historical rock sample results of 7.89% copper and 0.85 g/t gold, 3.66% copper and 0.80 g/t gold.

Mapping along creek exposures at the Nakru Creek Prospect shows primary copper mineralisation (chalcopyrite-bornite) in altered feldspar porphyry. There is also mineralisation associated with veins and stockwork. Historical rock chip samples include 7.89% copper and 0.85 g/t gold, 3.66% copper and 0.80 g/t gold and 0.71 g/t gold. A historical bulldozer trench intersected 35 metres grading 0.22% copper, including 5 metres at 0.5% copper.

Project
Simuku Project Mt. NakruSimukuSimuku
Simuku Project