Significant High Grade Extension Intersected at Hollandaire
Executive Director Barry Cahill commented "We are pleased to have extended the mineralisation at Hollandaire over 100m down dip from the deepest existing drillhole and look forward to follow up RC drilling from this intersection in the coming month.
We are very encouraged by the scale of the mineralisation and that one of the drillholes has entered the primary mineralisation, returning three metres at 1.34% copper from a shallow depth of 61 metres. A further 1,300 metres of drilling will commence later this week.
The results from the downhole geophysical investigations will be evaluated and incorporated into the design of the next phases of drilling to further outline mineralisation at the Eelya South prospect."
Cue Copper Project Drilling Results
CYM completed 3,957 metres of RC drilling at the Hollandaire, Eelya South and Rapier prospects at the Cue Copper Project during November and December 2019, as detailed in *Appendix 1, Figures 1 to 4, Tables 1 to 3, Sections 1 and 2.
RC drilling at the Hollandaire prospect has intersected a significant extensional mineralisation of 18.0m @ 1.97% Cu in drillhole 19HORC029 from 295m downhole including:
- 12.0m @ 2.74% Cu with 0.61 g/t Au and 6.75 g/t Ag from 295m
- 8.0m @ 3.63% Cu with 0.84 g/t Au and 8.94 g/t Ag from 296m
- 3.0m @ 6.10% Cu with 2.61 g/t Au and 16.25 g/t Ag from 296m
The assay results from Hollandaire drillholes 19HORC030 to 19HORC038 are pending and will be released as separate announcement when received and will be taken into consideration for the next phase of extensional drilling at Hollandaire. This drilling is expected to commence later in January 2020 after the planned phase 3 drilling has been completed at Eelya South.
The RC drilling programme completed in November and December 2019 at the Eelya South prospect comprised 13 drillholes which targeting the down-dip extensions of the structure (refer to CYM ASX releases dated 4 November 2019 and 26 November 2019). Of the RC drilling completed, 11 drillholes were included in phase one and two designs targeting the shallowest section of the structure and has intersected a depleted zone of the structure, including:
- 19ESRC001: 1.0m @ 1.36% Cu with 0.04 g/t Au and 1.00 g/t Ag from 47m
- 19ESRC007: 1.0M @ 1.32% Cu with 0.18 g/t Au and 29.50 g/t Ag from 46m
Full results of the programme are detailed in Table 2*.
An RC drillhole of the phase 3 programme was completed to target a deeper section of the structure and has intersected sulphide material below the depletion zone, which included 11.0m @ 0.64% Cu, 0.13 g/t Au and 6.64 g/t Ag from 58m downhole including:
- 3.0m @ 1.34% Cu, 0.40 g/t Au and 19.83 g/t Ag from 61m.
The initial assay results received to date have been very encouraging and the remainder of the planned three phase RC drilling programme of 2,430 metres at Eelya South will be completed by the end of January 2020. The assay results from the January 2020 RC drilling are expected to be available during the first quarter of 2020.
RC drillhole 19ESRC013 was used for downhole geophysical investigations that was conducted on 12 January 2020. The geophysical results are expected by the end of January 2020 and will be used, in conjunction with RC drilling assay results to design the next phases of drilling to outline further mineralisation at the Eelya South prospect.
The drilling intersections from RC drilling at the Rapier prospect are detailed in Table 3*.
Composited intervals recorded values greater than 0.1% Cu and are scheduled for re-sampling and assaying by the metre to determine the extent of the mineralisation.
RC drillholes 19RWRC001, 19RWRC006 and 19RSRC007 were cased and downhole geophysical investigations were completed on 12 and 13 January 2020 with processed results expected by the end of January 2020.
Earn-in and Joint Venture
Pursuant to an agreement between a wholly owned subsidiary of CYM and Musgrave Minerals Limited (ASX:MGV), an option has been granted by Musgrave Minerals Limited to earn-in and joint venture for an 80% interest in the non-gold rights over the tenements at the Cue Copper Project (CYM ASX Release 25 March 2019).
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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.
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