COPPERMOLY LIMITED Audio Webcast

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COPPERMOLY LIMITED (COY)

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COPPERMOLY LIMITED (COY) Events

Company (Stock Code)	Date/Time	Event	Timezone: Australia/NSW
COPPERMOLY LIMITED (COY) Best Trench and Drill Results to Date	Fri, 25 Jul 2008 03:30PM	COY - Drilling and Trenching Results and Exploration Update - Mr Peter Swiridiuk, MD
COPPERMOLY LIMITED (COY)	Thu, 13 Mar 2008	Interim Results
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COPPERMOLY LIMITED (COY)

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INTERVIEW WITH PETER SWIRIDIUK, MANAGING DIRECTOR, COPPERMOLY LIMITED (COY)

“Best Trench & Drill Results to Date”

http://www.brr.com.au/event/48694

 

FRIDAY, JULY 25, 2008, 3:30 PM

 

BRR Today, Boardroom Radio welcomes the managing director of Coppermoly Limited, Mr. Peter Swiridiuk. Welcome to Boardroom Radio, Peter.

COY Thank you, Terence.

 

BRR Peter, in a release to the market today, you've discussed some of your drilling and trenching results at Simuku. Can you firstly tell us a little about some of the drilling results and the prospects that you're exploring.

15 COY Yeah, thanks, we're currently drilling there or we've been doing at our Simuku copper-molybdenum-gold project the last four months. I'm now in Papua New Guinea basically to see what sort of tonnage we have there at grades that are about half the zinc copper equivalent. Historically, 16 holes are being drilled and surface trenching has defined a large area of mineralisation at 3 kilometers by 1 kilometer at surface. At the Nayam prospect, we have announced the recent results. They are similar to the historical results at about, for example 91 meters, approximately half the zinc copper equivalent. The recent drilling results have basically confirmed grades and expanded out area of mineralisation down a depth. We also have trench results which we’ve recently released showing some high grade near surface of roughly 0.74% copper equivalent. We aim to continue drilling at this Nayam prospect, at Tobarum prospect and other molybdenum targets for the next few months, basically to expand our tonnage.

 

BRR And, Peter, can you tell us a little bit about some of those prospects that you're planning on commencing some drilling?

COY Sure, at Tobarum where we have released some results as well, further to the southwest we're getting intersections there of, well, significant intersections which are increasing at depths for example 120 meters at 0.46% copper equivalent using some credits of molybdenum, gold and silver. We aim to expand our size potential quite significantly out to the west where we have a Magipmo prospect which has coincident (inaudible) (00:02:07) chemistry, geophysics and we are currently doing trenching over that area to define drill targets. Now this is nearly a kilometre away from our Nayam prospect and a kilometer further southwest of Nayam prospect at the horseshoe where we had significant intersections of molybdenum. These are some of the areas we will be testing over the next few months. At the same time, we are also mobilizing drilling rigs to our project for our drive away further to the south of Nakru.

 

BRR Peter, what are the exploration program going forward and how does Nakru fit into this?

COY Well, exploration will continue with a minimum of two drill rigs in the next two/three months at Simuku. At the same time, we've been looking at continuing drilling until the end of the year at our Nakru copper molybdenum gold project. This is also a project that's close to require infrastructure for development and we are chasing the tonnage potential at Nakru1 of our gold which we intersected at surface. For example, 95 meters of 2.8 grams per tonne gold and a depth we've got beneath the gold zone at an intersection of roughly 0.4% copper at 200 meters sectioning. So we will be testing the higher grade gold potential at Nakru1 as well as the medium grade copper and high tonnage potential at Nakru1 and as well, developing drilling targets based on geophysics and trenching at Nakru2 which from the airborne (inaudible) (00:03:33) looks like possible large (inaudible) (00:03:34) system. At Nakru 2 we have some surface sampling there at about 90% copper so it will be quite interesting in the next few months to see what develops there in terms of drilling targets and result.

 

BRR Peter, certainly some things to look out for the company. Thanks very much for the updates today on your latest exploration and drilling.

COY Okay, thank you.

 

BRR Remember, if you have any questions about this broadcast or any others, please feel free to send me an e-mail at brr@brr.com.au providing contact details on the home page. I'm Terence Bell, thank you for listening to Boardroom Radio.

 

 

INTERVIEW CONCLUDED

 

 

 

Contact brr@brr.com.au for more information

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