Quarterly activity report of Cyprium Metals Ltd

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Perth, Australia – Cyprium Metals Limited is pleased to provide the following overview of the Company’s activities for the September 2021 quarter. Paterson Copper Projects Portfolio o Nifty Heap Leach Restart’s development activities during the quarter included:

Perth, Australia (ABN Newswire) – Cyprium Metals Limited (ASX: CYM) is pleased to provide the following overview of the company’s business for the September 2021 quarter.

Paterson Copper Project Portfolio

o Nifty Heap Leach Restart’s development activities during the quarter included:

– Infill drilling and mineral resource extension programs
– Beginning of the metallurgical column tests, giving excellent results
– Restart investigations for regulatory approvals, with documentation being compiled
– Ongoing engagement with traditional owners and government authorities
– Assessment of the construction of a new SX-EW plant versus a completed refurbished plant
– Front-end engineering and design started with long lead item planning
– SX-EW factory refurbishment started with on-site engineering teams
– Appointment of the main management and technical roles for the continuation of the site

o Beginning of the infill drilling and extension program for Maroochydore mineral resources

Murchison Copper-Gold Project

o The third diamond drill hole (NWD2003) at the Nanadie well continues to intersect extensive shallow copper and gold sulphide mineralization returning 180 m @ 0.6% Cu and 0.2 g / t Au from 10.0 m

o Cyprium ended the quarter with a cash balance of $ 40.0 million

Managing Director Barry Cahill commented: “Development activities for the Nifty Copper project continue to accelerate.

Resource definition and extension drilling programs at Nifty are underway. The Nifty East drilling has confirmed our understanding of copper mineralization extending from the former Nifty open pit mine and demonstrates excellent potential to increase the resource eastward at depth.

The stronger than expected copper mineralization intersected in the first metallurgical diamond hole, includes native copper observed in 3 distinct zones, which is located in the extension of the former Nifty open pit mine.

A detailed mineral resource review of the Nifty deposit has been undertaken and open pit optimization work for the heap leach restart study has begun.

Metallurgical column testing on the trench samples is progressing well and optimization of the leaching process for Nifty continues.

A study of the new SX-EW plant versus a refurbished plant was carried out and determined that a refurbishment of the existing SX-EW plant can be completed in a much shorter timeframe at about half the cost of ‘estimated investment, while realizing operational efficiency gains through technological improvements within EW. plant.

Refurbishment engineering and design work is underway as is the engagement of contractors for SX-EW refurbishment activities. Renovation of Camp Nifty also began during the quarter.

We continue to engage with traditional owners and have completed the environmental study work required to restart heap leaching for government submissions so that regulatory approval timelines can be finalized.

The new quarter will result in the completion of a number of milestones for the Nifty copper project, including the completion of the mineral resource review, metallurgy review, restart study, the schedule of approvals and the project schedule. The results of each step will be published as they are finalized.

I recently visited our Maroochydore copper project which is another exciting copper development opportunity for Cyprium. We are on track to unlock significant value at this deposit, where we must remember that it currently contains 486,000 tonnes of copper with a footprint for the oxide resource that is over 3 kilometers long.

Shallow oxidized mineralization, which has been defined between depths of only 20 meters to 150 meters, remains open along strike and down dip. The current drilling program aims to increase geological confidence and expand mineralization to increase the resource. Diamond drilling is undertaken to obtain core samples for use in metallurgical test work. Sulphide mineralization has only been slightly drilled and is open along strike and down dip.

The NWD2003 diamond drill hole drilled in the central section of the Nanadie Well deposit of our Murchison project returned another strong 180 meter intersection at 0.6% copper and 0.2 g / t gold at just 10 meters beneath the surface. The mineralization of this vast shallow deposit remains open in several directions. ”

To view the full quarterly report, please visit:
https://abnnewswire.net/lnk/N7N7X3T3

About Cyprium Metals Ltd:

Cyprium Metals Limited (ASX: CYM) is poised to become a mid-tier mining company and manage a portfolio of Australian copper projects to provide vital natural resources, strong shareholder returns and sustainable value for our parties. stakeholders. We pursue this objective, in genuine partnerships with employees, customers, shareholders, local communities and other stakeholders, which is based on integrity, cooperation, transparency and the creation of mutual value.

Source:
Cyprium Metals Ltée

Contact:
Barry cahill
Executive director
T: +61 8 6374 1550

Wayne Apted
Financial director
and company secretary

Lexi O’Halloran
Investor and media relations
E: [email protected]
Phone. : +61 404 577 076
E: [email protected]tals.com


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