Ann: Assay Results Confirm IOCG Potential at Makm, page-2

re: Ann: Assay Results Confirm IOCG Potential... Coppermoly strikes copper and high grade iron ore
Source:
The National, Monday 08th December, 2013
COPPERMOLY Ltd has confirmed iron oxide, copper gold type deposit potential at its Makmak tenement in Kimbe, West New Britain after assay results identified up to 2.39% copper and high grade iron ore.
Assay results from rock samples taken from the Pulding and Wara Creek prospects showed high potential.
Results included 2.39% copper and 223 parts per million (ppm) molybdenum; 1.98% copper and 503ppm molybdenum; 1.27% copper and 183ppm molybdenum; and 1.33% copper and 440 ppm molybdenum.
Geological consultant Stan Yeaman said these results from rock-chip character samples, which were not representative linear channel samples.
“But they were taken to characterise the silicate alteration with the chalcopyrite mineralisation over a significant area”.
“I think it would be legitimate to say that this style of mineralisation is comparable to IOCG (iron oxide copper gold) mineralisation mined in Chile and Peru for iron ore and copper,” he said.
Four samples from the Wara Creek iron ore prospect also assayed greater than 50% iron.
These samples are of interest for high grade, low impurity iron.