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Cyprium Metals Ltd (CYM.AX) Quarterly Activities Report
Perth, Australia, July 29, 2021 - (ABN Newswire) - Cyprium Metals Limited (ASX:CYM) is pleased to provide an overview of the Company's activities for the 3 months ending 30 June 2021.
Paterson Copper Project Portfolio
o Since completing the acquisition on 30 March 2021, Cyprium remains focussed on rapidly advancing Nifty towards production
o Recent works completed at Nifty include:
- Mineral resource infill drilling review which has identified priority targets
- RC sterilisation drilling to confirm location of key site infrastructure
- Trenching of heap leach pad for metallurgical test-work bulk samples
- Sonic drilling of heap leach pads to gain core samples
- 3,000m resource expansion drill program on Eastern end of the pit
- Undertake flora and fauna surveys
- Appointment of key management for site and technical roles
o Other works streams currently underway include:
- Engineering report and cost estimate for replacement vs refurbishment for SX-EW plant
- 16,000m resource expansion drill program on Western end of the pit
- Column test with bulk samples to optimise the metallurgical parameters
- Review of site communications and camp upgrade
- Engagement with traditional owners and government authorities
Nanadie Well Copper-Gold Project
o Extensive shallow sulphide copper-gold intersections continuing immediately below the oxide copper-gold halo
o Phase 1 diamond drilling programme has consistently intersected sulphide mineralisation at shallow depths ranging from 45m to 341m downhole
o Nanadie Well Phase 1 Diamond Drilling results include:
- 144m @ 0.7% Cu & 1.5g/t Ag from 25m in NWD2004
- 232m @ 0.4% Cu & 0.1g/t Au from 109m in NWD2001
o Cyprium ended the quarter with a cash of $50.6 million
Managing Director Barry Cahill commented:
"We are pleased with the progress of our activities at the rapidly evolving Nifty Copper Project since we acquired it at the end of the previous quarter. An RC drill rig has been at Nifty for more than two months now to conduct sterilisation and resource definition drilling, and another RC rig has arrived this week to accelerate these activities.
A diamond drill rig is also scheduled to arrive at Nifty in the coming weeks. These additional drill rigs have been mobilised to site to complete our expanded resource drilling programmes, targeting in-situ resources around the open pit.
Metallurgical test-work is underway on the trench samples taken from the heap leach whilst test-work on samples from recently completed sonic drilling campaign will commence in August. We are very excited by the initial observations of the leaching from the column test-work. We are also proceeding with the optimisation of the leaching process for the heap leach retreat at Nifty.
Manning numbers have continued to increase as we recruit more personnel to site as we ramp up our activities.
At Nanadie Well, we have been very pleased with the initial set of assay results from the Phase 1 diamond drilling campaign, with all holes intersecting visible copper mineralisation.
Diamond drill hole NWD2004 is consistently mineralised through to a depth of 208 metres from just 25 metres from surface. Diamond drill hole NWD2001 was commenced from outside of the supergene mineralised corridor and angled west towards the sulphide zone, returning assays with a consistent 232 metre copper mineralised intersection from 109 metres downhole.
Diamond drill hole NWD2001 intersected a crackle breccia zone with high grade silver sulphide mineralisation from 303 metres downhole, which requires further work to define the mineralisation style.
These are a fantastic set of drill results for this extensive deposit at Nanadie Well, which is very shallow, broad, consistently mineralised and is open in multiple directions."
To view the full quarterly report, please visit:
About Cyprium Metals Ltd:
Cyprium Metals Limited (ASX:CYM) is poised to grow to a mid-tier mining business and manage a portfolio of Australian copper projects to deliver vital natural resources, strong shareholder returns and sustainable value for our stakeholders. We pursue this aim, in genuine partnerships with employees, customers, shareholders, local communities and other stakeholders, which is based on integrity, co-operation, transparency and mutual value creation.
Cyprium Metals Ltd
T: +61 8 6169 3050
Cyprium Metals Ltd
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