The Mt Nakru tenement encloses four known copper-gold systems at Nakru-1 to Nakru-4. Exploration to date has included 31 drill holes (over 7253 metres).
Nakru-1 has an exploration target of 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.
Summary of Mineralisation Styles at Nakru-1:
A. Supergene Copper Zone
The best intersection to date in the supergene copper zone was encountered in drill hole BWNBDD0001 where 34.35m at 1.96% copper and 0.17g/t gold was intersected between 74.45m and 108.8m down hole. All drill holes collared within the IP ‘chargeability’ anomaly have encountered copper mineralisation.
B. Primary Copper Gold Zone
Beneath the supergene copper zone in hole BWNBDD001 a zone of primary copper-gold mineralisation is hosted in rhyolitic breccias and hydrothermal breccias. A composite interval of approximately 145m at 0.84% copper and 0.4g/t gold was intersected between 108m and 288m down hole, which excluded values attributed to post mineralisation dykes.
C. High Grade Gold Copper Telluride Vein
The Eastern most hole BWNBDD008 encountered a 1m (99m – 100m down hole) interval of 42g/t gold, 4.64% copper, 20g/t silver and 0.28% tellurium.
D. High Grade Silver Vein
In hole BWNDDD009 an intercept of 0.7m (281.3m – 282m down hole) grading 432 g/t silver, 943 ppm molybdenum and 1,340ppm niobium was encountered in strongly altered rhyolitic breccias. This association was also encountered at Nakru 2 in the one deep hole by Barrick which partly tested the ‘chargeability’ anomaly.
The Nakru-2 polymetallic (Cu, Au, Zn, Ag, Mo) system occurs as a 800m diameter breccia located 1km to the west of Nakru-1.
Summary of Mineralisation Styles at Nakru-2:
A. Massive Sulphide Zone
The initial two drill holes drilled by Coppermoly encountered a shallow massive sulphide lens at approximately 30m depth. Hole NAK02-01 intersected 6.7m at 3.80% copper, 1.66% zinc, 9.5g/t silver and 0.19g/t gold between 30.3m and 37m down hole. Petrographic and geologic studies indicate that the massive sulphide was probably deposited on the sea floor.
B. Primary Copper Zone
Beneath the massive sulphide zone, stringer veinlets of chalcopyrite mineralisation were found to be hosted in rhyolitic breccias in both Coppermoly drill holes. The Barrick drill hole (BWNBDD0003), testing the centre of the IP ‘chargeability’ anomaly, also encountered this style of mineralisation, intersecting 64m at 0.59% copper between 141m and 205m down hole.
C. High Grade Zinc and Polymetallic Mineralisation
In drill hole BWNBDD0003, between 290.1m and 295m, a zone assaying 13.6% zinc, 0.84% copper, 24g/t silver and 0.41g/t gold was encountered. Although this was the first time this style of metal association has been encountered in drilling, rock float in drainage North West and North East of the drill hole assayed by previous explorers had identified a similar metal association.
D. High Grade Silver Vein
A similar metal association to that encountered at Nakru 1 in drill hole BWNBDD009 was intersected in hole BWNBDD003. At 542m down hole a 0.9m intercept of 474g/t silver, 258ppm molybdenum and 433ppm niobium was found. The presence of this vein association at two prospects 1 kilometre apart indicates that it is probably extensive over a significant area.
The Mt Nakru property is owned 28% by Copper Quest (PNG) Ltd and is accessible by a four hour drive from the provincial capital of Kimbe which is host to an operational deep water port and airport terminal.
#Exploration Target, or present potential quantity and grade is conceptual in nature and there has been insufficient exploration to define a Mineral Resource, and it is uncertain if further exploration will result in the determination of a Mineral Resource.