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Cyprium Metals Drills Nifty East Extensions

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THE DRILL SERGEANT: Cyprium Metals (ASX: CYM) reported assay results from an 18-hole RC drilling program completed at the company’s Nifty copper mine in the north-eastern Pilbara region of Western Australia.

Cyprium Metals carried out the Nifty East extensional drilling program targeting areas of potential oxide/transitional mineralisation extending east of the Nifty open pit.

Widths of copper mineralisation intersected, include:

21NRSP001
21m at 0.45 per cent copper from 122m, including 5m at 1.28 per cent copper from 124m;

21NRSP015
3m at 0.62 per cent copper from 157m, including 1m at 1.22 per cent copper from 158m and 5m at 0.39 per cent copper from 166m;

21NRSP016
10m at 0.37 per cent copper from 176m; and

21NRSP018
13m at 0.55 per cent copper from 77m, including 2m at 2.06 per cent copper from 80m.

“The first phase of drilling at Nifty East has firmed up our understanding of the copper mineralisation extending from the former Nifty open pit and clearly demonstrates excellent potential to grow the existing resource further east,” Cyprium Metals executive director Barry Cahill said n the company’s ASX announcement.

“Follow-up drilling is currently being planned and we look forward to updating the market on the results from the extensional drilling to the west of the Nifty pit.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@cypriummetals.com

 

Web: www.cypriummetals.com

 

 

Cyprium Metals Reports Further Results from Nanadie Well RC Drilling

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THE DRILL SERGEANT: Cyprium Metals (ASX: CYM) reported further assay results from Reverse Circulation (RC) drilling conducted in January 2021 at the company’s Nanadie Well copper-gold project in Western Australia.

Cyprium Metals released the latest results from the drilling that include the next 38 holes of the 66 hole Phase 1 program.

Results include:

NWRC21005
48 metres at 0.5 per cent copper and 0.1 grams per tonne gold from 12m, including 20m at 1 per cent copper and 0.2g/t gold from 40m, including 2m at 3.8 per cent copper and 0.2g/t gold from 20m and
2m at 2.1 per cent copper and 0.3g/t gold from 46m and
1m at 1.3 per cent copper and 0.7g/t gold from 58m;

NWRC21006
40m at 0.8 per cent copper and 0.3g/t gold from 12m, including 9m at 1.6 per cent copper and 0.5g/t gold from 20m; and

NWRC21011
27m at 0.8 per cent copper and 0.2g/t gold from 3m, including 7m at 1.6 per cent copper and 0.6g/t gold from 23m, including 4m at 2.4 per cent copper and 1g/t gold from 25m.

“We are pleased to announce the next set of assay results from the January 2021 Nanadie Well supergene RC drilling campaign,” Cyprium Metals executive director Barry Cahill said in the company’s ASX announcement.

“As anticipated, the results are continuing to show an extensive shallow and broad oxide copper-gold mineralisation.

“We are really excited and encouraged from what we are seeing in these assay results from the supergene horizon at Nanadie Well.

“It gives us increasing confidence in the potential of the sulphide mineralisation.

“We are looking forward to the results of the assays of the diamond drill core and results of the downhole geophysics in that part of the mineralised zone.

“We anticipate continued positive news flow over the coming weeks as the results for the remaining RC drill holes are received.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@cypriummetals.com

 

Web: www.cypriummetals.com

 

 

Cyprium Metals Eyes Shallow Copper and Gold in First Nanadie Well Holes

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THE DRILL SERGEANT: Cyprium Metals (ASX: CYM) released the first results from an exhaustive RC drilling program completed at the company’s Nanadie Well copper-gold project in Western Australia.

Highlights from the results include:

NWRC21018
45 metres at 0.9 per cent copper and 0.2 grams per tonne gold from 2m, including 11m at 1.8 per cent copper and 0.4g/t gold from 16m, including 2.0m at 3.5 per cent copper and 1g/t gold from 16m

NWRC21016
7m at 1.1 per cent copper and 0.2g/t gold from 29m, including 3m at 2.1 per cent copper and 0.4g/t gold from 31m, and 2m at 2.5 per cent copper and 1g/t gold from 40m.

Previous work by the company has shown near-surface supergene mineralisation at the Nanadie Well Copper-gold project that is open along strike to the north and south, as well as to the west.

Cyprium’s recent 3,500m Nanadie Well Phase 1 RC drilling program was undertaken to test the oxide and supergene mineralisation at the deposit.

The company intends to use results from the Phase 1 and subsequent drill programs in the preparation of a JORC 2012 compliant mineral resource estimate for Nanadie Well during 2021 for inclusion in the Murchison Copper-Gold scoping study.

“We are pleased to announce the first results from the January 2021 Nanadie Well supergene RC drilling campaign,” Cyprium Metals executive director Barry Cahill said in the company’s ASX announcement.

“These fantastic results from the first four holes of the program provide strong support to our understanding and demonstrate the potential of the supergene horizon at Nanadie Well.

“We anticipate continued positive news flow over the coming weeks as the results for the remaining 62 holes are received.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@cypriummetals.com

 

Web: www.cypriummetals.com

 

Cyprium Metals to Acquire Metals X WA Copper Assets

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THE BOURSE WHISPERER: Cyprium Metals (ASX: CYM) announced it is to acquire Metals X’s portfolio of Western Australian copper assets.

Cyprium Metals has entered into a Share Sale Agreement with Metals X to acquire the latter’s 100 per cent-owned entity Paterson Copper Pty Ltd, the owner of the Nifty copper mine, Maroochydore copper project and the Paterson Exploration Project, which includes a farm-in agreement with IGO Limited.

“This is a truly transformational transaction for Cyprium which provides us with an outstanding portfolio of copper projects,” Cyprium Metals executive director Barry Cahill said in the company’s ASX announcement.

“We have regularly ranked Nifty at the top of our Australia copper project acquisition target list and are delighted to have secured this as part of our quality suite of copper development projects.

“Nifty and Maroochydore are a perfect fit for the skill set of our management team, who have a track record of creating value and producing copper, as most recently demonstrated with Finders Resources at the Wetar copper project.

“With favourable market fundamentals for copper, the acquisition of this portfolio represents an outstanding opportunity to generate significant value by securing more than 1.1 million tonnes of contained copper at Nifty and Maroochydore, including significant infrastructure, as well as the extensive Paterson Exploration JV with IGO in the highly prospective Paterson Province.

“We are excited about the opportunity to execute our simplified development plan which consists of an open pit mining operation, feeding a heap leach and SX-EW processing flowsheet.

“Cash flows generated are intended to be utilised towards the development of the Maroochydore and Cyprium’s existing Murchison copper-gold projects.”

Cyprium has agreed to pay Metals X a total $60 million upon completion of the transaction, comprising an upfront cash payment of $24 million inclusive of the a$1 million deposit already paid, and convertible notes with a face value totalling $36 million.

Cyprium has received binding commitments to fund the transaction through a $90 million placement to professional and sophisticated investors.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@cypriummetals.com

 

Web: www.cypriummetals.com

 

Cyprium Metals Drills Visible Copper Supergene Mineralisation

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THE DRILL SERGEANT: Cyprium Metals (ASX: CYM) reported on progress of a Reverse Circulation (RC) drilling program underway at the company’s Nanadie Well copper-gold project in Western Australia.

Near-surface supergene mineralisation has been defined at the Nanadie Well Copper-Gold Project, which is open along strike to the north and south, as well as to the west.

The Company’s initial 3,500 metre Nanadie Well Phase 1 RC drilling programme has been designed to test the supergene mineralisation of the deposit.

“Drilling to date has seen visible copper supergene mineralisation in the RC chips such as malachite, azurite and chrysocolla,” Cyprium Metals executive director Barry Cahill said in the company’s ASX announcement.

“The presence of these visible minerals is very exciting as we submit samples to the assay laboratory for analysis.

“Supergene mineralisation is generally, easily leachable with acid, which complements the nearby Hollandaire mineral resource, which is a massive sulphide orebody, that has already demonstrated its acid generating capacity.

“We will eagerly await the results of this program to define the extent of the supergene mineralisation at the Nanadie Well.”

“These results will be used to generate a JORC 2012 compliant resource at the Nanadie Well copper-gold project.

“Cyprium is continuing to work on expanding our mineral resource base for inclusion in the Murchison copper-gold scoping study.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@cypriummetals.com

 

Web: www.cypriummetals.com

 

Cyprium Metals Commences Murchison Geophysical Programs

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THE DRILL SERGEANT: Cyprium Metals (ASX: CYM) announced commencement of geophysical programs across the company’s Murchison copper-gold projects in Western Australia.

Cyprium Metals will be carrying out the programs on the Cue copper-gold project and the Nanadie Well copper-gold project in order to define further copper mineralisation at the company’s Murchison project areas.

Anu promising anomalies to emerge from the programs will be drill tested in 2021, pending regulatory approvals and drill rig availability.

“We are very pleased to have rapidly procured and mobilised the services of the various teams and drilling contractors to commence our program of works following the recent oversubscribed capital placement and Share Purchase Plan,” Cyprium Metals executive director Barry Cahill said in the company’s ASX announcement.

“Cyprium is about to embark on an exciting stage of its progress, targeting in on extending the mineralisation inventory at Cue through the use of geophysics and drilling out the mineralisation at Nanadie Well, to upgrade to a JORC 2012-complaint mineral resource while expanding the resource base and examining the along strike and depth potential of the system.

“The work will provide valuable information to be included in the accelerated programs, commencing in the new year, to follow up on the results from the geophysical programs and to analyse the core produced from diamond drilling, whilst commencing the drilling of the Nanadie Well supergene zone.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Web: www.cypriummetals.com