Hollandaire Extensional Drilling Results
Perth, May 5, 2020 AEST (ABN Newswire) - Cyprium Metals Limited (
ASX:CYM) is pleased to advise of the results of the Reverse Circulation ("RC") drilling that was completed during March 2020 at the Hollandaire (Table 1, Figure 1, Appendix 1) and Eelya South prospects (Table 2, Figure 2, Appendix 2*).
HIGHLIGHTS
Hollandaire Drilling results include:
- 1.0m @ 1.08% Cu from 53m in drill hole 20HORC014
- 4.0m @ 1.20% Cu from 144m in drill hole 20HORC021
- 2.0m @ 1.49% Cu from 153m in drill hole 20HORC022
- 2.0m @ 1.78% Cu from 180m in drill hole 20HORC022
- 2.0m @ 1.49% Cu from 180m in drill hole 20HORC023
Eelya South Drilling results include:
- 1.0m @ 1.10% Cu from 35m in drill hole 20ESRC028
The RC drilling programme at Hollandaire was conducted around the margins of the existing deposit to test extensions of the mineralisation. The results show continuation of the mineralisation and the intersections are being taken into consideration in the planning for testing of further depth extensions through geophysical and drilling programmes.
An RC drilling programme was conducted to the north of the copper rich intersections from drillholes ER19 and 20ESRC014 at the Eelya South prospect which were hosted in a sulphide rich zone (CYM ASX Release 25 March 2020). There was a continuation of the sulphide rich zone in this RC drilling programme however significant copper grades were not intersected. Field work at the Eelya South prospect has resumed following the RC drilling results to evaluate the potential for further copper rich sulphides in the prospect area.
Executive Director Barry Cahill commented "The extensions to the mineralised zone at the Hollandaire prospect are very pleasing to see and this is being taken into consideration in the ongoing Scoping Study, which includes a review of the most appropriate cut-off grade for the deposits.
Further geological investigation is required at the Eelya South prospect as the sulphide zone is persisting but without the same tenor of copper mineralisation as previously encountered. The Scoping Study work is continuing in conjunction with our external consultants and we look forward to announcing the results in due course."
Musgrave/Cyprium Metals 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).
The earn-in expenditure requirement for an 80% interest in the non-gold rights over the tenements at the Cue Copper Project, WA was met during the March 2020 quarter and the transfer of the interests and formation of the joint venture has been initiated (CYM quarterly activities report released on 17 April 2020).
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/U35HK092
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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