The Mt Nakru tenement covers 47km2 and encloses four known copper-gold systems known as Nakru-01 to Nakru-04.
After significant drilling by Coppermoly and former joint venture partners, an initial inferred resource was defined at the Mt Nakru project in 2012.
As a result of further exploration work and drilling campaigns conducted over the past few years, including a 2018 campaign of 16 drill holes for 1997.5 metres, the resource has been updated and upgraded, with the first indicated resource category declared for the project in February 2019.
The Simuku project is the second of Coppermoly’s projects to have a declared resource and continues to be a focus of recent exploration activity.
The tenement (EL2379) covers 122.7 km2 and is located within one hour’s drive from existing infrastructure, including the deep-water port of Kimbe.
The Simuku deposit consists of a large tonnage, low grade, porphyry style copper mineralisation zone and near surface higher grade secondary copper mineralisation.