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The Mt Nakru tenement encloses at least two copper-gold breccia systems at Nakru-1 and Nakru-2. Exploration to date has included 19 drill holes (for 2605.4 metres) at Nakru-1 and the first ever two drillholes into Nakru-2 for 412 metres.
At Nakru we have an upper secondary copper #Exploration Target of 15 to 25 million tonnes at 2 to 4% copper and 0.3 to 0.5 g/t gold. Beneath this is a primary copper #Exploration Target of 150 to 200 million tonnes at 0.8 to 1.0% copper and 0.2 to 0.4 g/t gold.
A major copper mineralised breccia system has been demonstrated with drilling intersecting 190.85, grading 1.01% copper and 0.36 g/t gold. This intersection occurs through the main body of an I.P. chargeability anomaly which was partially tested by historical drillholes NAK003, NAK017 and NAK006. The latest drillhole by Barrick also intersected 13.55m of 2.8% copper in an upper zone of supergene enrichment.
Historically, the best drill results from the pre-Coppermoly twelve drillholes at Nakru-1 included 74m of 0.78% copper (Q74D6) and 11.2m of 0.95% copper and 2.55 g/t gold at 91m depth (NAK003). A gold bearing breccia blanket with drilling results of 5.6m of 1.90 g/t gold (NAK001) and 90m at 1.08 g/t gold in a surface trench overlies copper grades of 0.67% to 1.10% in drill hole(Q74D6). Surface trench results includes 45m of 2.5 g/t gold and 245m of 0.8 g/t gold.
The Nakru-2 polymetallic (Cu, Au, Zn, Ag, Mo) system occurs as a 700m diameter breccia or VHMS system located 1km to the west of Nakru-1.
The first ever two drillholes into Nakru-2 in 2008 by Coppermoly tested part of the IP anomaly and a trench intersection of 25m at 1.44% copper, 10m at 1.16g/t gold and 155 ppm molybdenum. A historical rock chip sample also graded 19.9% copper at this trench. The drill holes intersected semi-massive copper sulphide with intersections of 27.7m at 1.90% copper including 6.7m at 3.8% copper at 25m depth into a massive sulphide lens. The drillholes confirm an association of copper mineralisation with the IP targets, which remain largely un-tested by drilling. A historical trench 600m north-west of the geophysical target included 5m at 3.5% copper and 6.6% zinc.
The Mt Nakru property is owned 100% 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. The significant gold and copper grades with high tonnage potential make these systems valuable assets of the Company. Over 2,700m of drilling has been completed in twenty one drilholes with over 9,000m of surface trenching completed. During 2008, Coppermoly completed 880.8m of drilling in eight drillholes and over 2,100m of trenching.
#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.
