Coppermoly Limited (ASX:COY)
Coppermoly Ltd (ASX:COY) is a mineral exploration and resource development Company steadily advancing an exciting portfolio of copper/gold projects in the South West Pacific nation of Papua New Guinea.
Since listing on the Australian Stock Exchange in 2007, Coppermoly’s exploration efforts have been focused on the island of New Britain, where the Company holds extensive highly prospective exploration territory and has had major success in discovering and defining significant copper and gold deposits.
Papua New Guinea has a long history of successful development of major resources projects, being richly endowed with some of the world’s largest copper/gold deposits, including Ok Tedi, Lihir Island, Porgera, Misima, Panguna, Hidden Valley and Frieda River.
The so-called “Pacific Ring of Fire” – the volcanic arc that hosts many of these deposits – extends through New Britain, where Coppermoly holds or has applications in place for a number of exploration tenements.
The exploration portfolio is ideally located, being easily accessed by road and air from the provincial capital of Kimbe and close to essential infrastructure including roads, an airfield and a deep-water port.
Coppermoly’s exploration activity currently is focused on two of these prospects: the Nakru copper/gold deposit and the Simuku copper / gold / molybdenum deposit.