AUSTRALIAN miner, Coppermoly has announced there is a potential to build up a quick start, low capex, open pit mining operation at its deposits in West New Britain Province.
The deposits include Mt Nakru and Simuku. The announcement was from one of the company board of director’s Wanfu Huang in his presentation, titled "Deliverying economic copper ore resources in West New Britain," which was delivered to the Australian copper conference recently. Mr Huang is a doctorate holder with 20 years in mineral exploration in Australia and overseas.
The conference heard that both Mt Nakru and Simuku are two advanced copper (Cu) projects, both containing significant copper resources.
Simuku has 200 metric tons (MT) with 0.36 per cent grade copper while Nakru has 8.4mt and 0.61 per cent of Cu.
"Clearly defined drilling targets next to defined resources areas suggest great potential of multiplying current resources. Both advanced projects are close to existing infrastructures at Kimbe and easy to access. Simuku is a 25km drive while Nakru is 80km by road," Mr Huang said. He attributed the progress made by the company also to the great working relationship which the company has fostered and enjoyed with locals from the area. "We are building up a competent team with technical expertise in exploring the copper and gold mineralisation. This is the best time to invest in Coppermoly," Mr Huang said.