Coppermoly is focussed on exploring for and developing copper – gold –molybdenum  and gold deposits in highly prospective Papua New Guinea on New Britain Island.

Drilling confirms a major copper mineralised system at Nakru.

At the Nakru-1 Prospect drilling intersected 213.75m grading 0.92% copper and 0.33 g/t gold. The association of this intersection with an IP geophysical anomaly suggest significant tonnage potential. These breccia/UMS deposits occur as a number of seperate clustered copper systems. A zone of upper secondary copper enrichment has intercepts of 13.55m of 2.8% copper and 22.25 of 1.47% copper.

Drilling has recommenced at the Nakru-2 Prospect one kilometer to the west of Nakru-1. Drilling by Coppermoly in 2008 intersected 51.7m grading 1.21% copper including 6.7m at 3.8% copper from 25m depth in a massive sulphide copper lens. This lens is associated with an I.P. geophysical anomaly which is currently being tested by Barrick with deep holes.

At Simuku we have an Inferred Mineral Resource of 200 million tonnes grading 0.47% copper equivalent (0.3% Cu.Eq. cut-off). An overlying secondary enrichment blanket of copper mineralisation occurs in eleven drillholes including 16m thick at 1.0% copper. These areas occur in only one third of the known Simuku mineralised system. Further drill testing by Barrick is currently testing for tonnage potential.

Within two years from listing on the ASX, Coppermoly has successfully advanced its large copper projects to attract funding from Barrick, the world's largest gold producer.

Barrick can spend A$20m to earn a 72% stake of Coppermoly's existing three tenements Nakru, Simuku and Talelumas. Coppermoly is currently acquiring additional copper and gold projects on New Britain Island.

The Company listed on the Australian Stock Exchange in January 2008, with advanced copper projects that are close to infrastructure including an operating deep water port that will be essential for future development.

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