Drilling Commences at the Eelya South Prospect
Executive Director Barry Cahill commented "We are very pleased to commence drilling at the Eelya South prospect following the recent completion of a surface sampling programme whereby high-grade copper samples were observed from a shear occurring at surface for more than five hundred metres in length."
The regional programmes have been undertaken as part of the Company's strategy to increase its copper resource base at the Cue Copper Project with the Eelya South prospect being located only 5 km to the south of the Hollandaire copper mineralisation (refer to Figure 2*).
Outcropping of malachite mineralised felsic schist has been observed whilst conducting surface soil and rock chip sampling of the shear hosted mineralisation at the Eelya South prospect, as illustrated in Figures 3 and 4*.
The shear hosting the mineralisation ranged from 0.5 metres to 3.0 metres in width and dipped south from 55deg to 75deg. The mineralisation has been mapped over a total distance of 530 metres, as illustrated in Figure 3*, including consistent outcropping of malachite mineralisation are shown at the yellow mapping points of 100 metres in length. A combination of outcrop and subcrop malachite mineralisation was observed at the red mapping points for 90 metres in length whilst copper gossan outcropping of the shear was frequently observed between the magenta mapping point 21 and the yellow mapping points in Figure 3*.
The observed surface mineralisation at the Eelya South prospect and laboratory assay results of the rock chip samples, as illustrated in Figure 4*, are very encouraging. The Eelya South surface rock chip sampling results are presented in Table 1 which includes:
- 19.7% Cu in surface sample ES13 including 0.9 g/t Au and 32.5 g/t Ag
- 14.5% Cu in surface sample ES11 including 2.7 g/t Au and 14.0 g/t Ag
- 11.4% Cu in surface sample ES15 including 0.7 g/t Au and 55.5 g/t Ag
- 9.6% Cu in surface sample ES12 including 4.1 g/t Au and 47.5 g/t Ag
- 9.2% Cu in surface sample ES08 including 0.8 g/t Au and 19.5 g/t Ag
Following the completion of the initial Eelya South RC drilling programme, an RC drilling programme at the Rapier prospect will be commenced together with the second phase of the Hollandaire RC drilling programme.
We look forward to updating the market with assay results from the RC drilling programmes at the Cue Copper Project as they become available.
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).
*To view tables and figures, please visit:
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.
Musgrave Minerals Ltd
Cyprium Metals Ltd