Dividing one movie into two

I have a movie that covers two topics in one movie. The project has grown too large and I would like to take half of the clips and create a new project movie. How do I best accomplish that?
Do I create a new library project etc and copy the highlighted clips to a new library?
They are already in the sequence with titles etc that I want. So I hope there is a way to accomplish this.
Any help would be appreciated.
Rich

ETdroneHome wrote: I have a movie that covers two topics in one movie. The project has grown too large and I would like to take half of the clips and create a new project movie. How do I best accomplish that?
Do I create a new library project etc and copy the highlighted clips to a new library?...

Is there a particular need to copy it to another library? FCPX events and libraries can handle huge amounts of data without performance problems. Any subsequent sharing of clips between the projects will be easier if they are within the same library.

You can just duplicate the project with Edit>Duplicate Project as Snapshot, or on 10.4.10, Edit>Snapshot Project. Then open that project and delete all the clips you don't need. This avoids any issues with media management or possible duplication of data.

If you want it in another library, after doing the above export the project XML, then load that XML in the new library. If FCP preferences>Import is set to "Leave files in place", media will not be copied to the library but symlinks will be created to point to the media in the existing location. If preferences are set to "Copy files to library storage location", the media will be duplicated and copied to that library. If on the same disk volume FCPX will use hard links to avoid actually duplicating the media but it will appear duplicated in Finder.

I like Joema Snapshot solution because it will give you access to the other project as you work. You won,t need to jump from one library to another.
My two or four cents.

Thanks all for the input. What is the difference between the two alternatives other than the name generated? I did the snapshot route and renamed the snapshot.
Working in the snapshot version I started deleting a couple of clips and FCP was removing them from both copies. So somehow they are connected and defeats my purpose.
Am I missing something?

I figured out the problem. I clicked on the new project not double click so I was still working in the first project while the second one was merely highlighted.