As the Simuku prospect in West New Britain, extended over both the Simuku and Talelumas exploration licences, Coppermoly decided to make application to consolidate the two licences. The new consolidated exploration licence was granted as exploration licence L2379 for a two-year term commencing Sept 11.
Coppermoly’s mineral exploration activities were focused entirely on the island of New Britain where it holds five exploration licences.
These licences cover copper, gold, silver, zinc, molybdenum and iron mineralisation.
Coppermoly is focused on exploring for and developing copper–gold-molybdenum deposits.
Its projects fit within its corporate strategy of exploring for versatile metals close to existing infrastructure.