Managing Director Barry Cahill commented:
"We have been very pleased with the drilling results received to date. These assay results continue to confirm the presence of a substantial zone of copper mineralisation which is up-plunge of the former underground mine. We continue to be excited about the receipt of the results of balance of the outstanding assays. It is not often that you have the privilege of getting these widths of mineralisation beneath an existing shallow open pit. The assays will be included in an updated mineral resource estimate that we look forward to releasing during the first half of this year."
Hole locations from the current program are shown in Figure 2* with the significant intersections summarised in Table 2*.
Discussion of results
Further wide intervals of low to medium-grade copper mineralisation were encountered on four section lines (101,560E - Figure 3*, 101,600E- Figure 4*, 101,640E- Figure 5* and 101,680E- Figure 6*) to the immediate east of lines 101,480E and 101,520E, where significant intersection were reported from the first batch of assay results announced on 2 November 2021. The latest intersections provide further confirmation of the presence of significant copper mineralisation associated with the lightly tested Nifty Syncline keel zone up-plunge of the former underground mine.
The remaining 25 holes drilled in the west pit area have been designed to intersect potential oxide, transition and sulphide ore, as infill and extension along the keel and the south limb of the Nifty Syncline.
Further drilling will be conducted in the south-east and east of the existing pit, which potentially will add the existing 732,000 tonnes of contained copper in the mineral resource at Nifty (refer to Figure 7*).
*To view tables and figures, please visit:
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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.
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