NEW Britain minerals explorer Coppermoly Ltd has signed an agreement with international drilling contractor Quest Exploration Drilling to carry out an exploration drilling programme at the company’s Mt Nakru Copper-Gold project.
The project area hosts two known mineralisation zones: Nakru 1 and adjacent Nakru 2 prospects where drilling in 2014 intersected high grade near-surface copper mineralisation.
The agreement provides for the drilling of 15 HQ diamond drill holes for a total of 2730 metres. The 15 drill holes are planned to be infill drilling to define the extension of mineralisation systems at both Nakru 1 and Nakru 2.
“This drilling program marks the restart of substantive ground exploration on the company’s key copper and gold exploration tenement. We are delighted to have engaged such a well credentialed and locally experienced operator as QED,” Coppermoly non-executive director, Dr Wanfu Huang, said.
“The drill programme will provide further data to enhance our understanding of the mineralisation systems in the project area, and advance our knowledge about the economic potential of ore bodies at Nakru.”
Coppermoly said it had recently participated in two successful warden’s hearings as part of its normal tenement renewal application process.
The hearings for the EL-2272 “Wowonga” exploration licence and the and the EL-2014 “Makmak” exploration licence.
The hearings received full support of each group of landowners from the respective tenement areas to renew the respective licenses for another two years.
The next step is assessment of the applications at the next Mining Advisory Council meeting.