Cyprium (ASX:CYM) Cues up high-grade copper discovery in the Mid West

Cyprium (ASX:CYM) Cues up high-grade copper discovery in the Mid West

February 20, 2024 Off By Jack Baker

Cyprium Metals has claimed a shallow high-grade discovery of 15 metres at 3.26 per cent copper southwest of the Hollandaire copper-gold deposit at its Cue joint venture with Ramelius Resources in Western Australia.

The hole 10 kilometres from Hollandaire also returned a 3m at 1.09% Cu intercept from what is now known as the Heeler discovery, with another three holes from the prospect awaiting assaying.

Cyprium is now completing studies toward establishing the long-term Nifty copper mine in the Pilbara, with the company’s Executive Chairman Matt Fifield saying while its focus remained there, Cyprium would continue to maintain an outstanding exploration portfolio.

“This new Heeler discovery is a great reminder of the prospective value within the company’s earlier-stage assets in the Paterson and Murchison provinces,” Mr Fifield said.

“Our exploration team targeted our limited drilling budget in the Murchison around the most prospective areas and hit (an) outstanding grade that shows potential for an economic orebody.

“It’s exciting to have an unexpected shallow high-grade hit show up like this.”

Cyprium Chief Operating Officer Milan Jerkovic said with Heeler, the company continued to build a copper-gold inventory in the Murchison area of WA’s Mid West.

“We have 203,000 tonnes of copper resource and 153,0000 ounces of gold (100% basis) at the nearby Hollandaire and Nanadie Well deposits and follow-up work around Heeler may well bring additional grade and scale into our portfolio,” Mr Jerkovic said.

“There are assays from this program outstanding, but we’re pleased to have hit shallow high-grade mineralisation.”

Company geologist Mark Styles noted the region known for its gold endowment remained underexplored for its base metal potential.

“At Heeler for example, we were attracted by the large, lightly tested 100ppm-plus copper soil anomaly up to 400 metres wide and 2.5 kilometres long, historic shallow drill results with 0.3% copper in the core of the soil anomaly and a coincident geophysical magnetic high,” Mr Styles said.

“These features are suggestive of a mafic-ultramafic association with base metal mineralisation in a style distinct from the felsic hosted Hollandaire copper-gold deposit located 10 kilometres northeast of Heeler.”

The discovery hole showed stacked shallow sulphide mineralisation visible in the chips, with Mr Styles adding that while the other drill holes struck sulphides, the company was expecting lower tenor assay results.

But fellow Cyprium geologist Peter van Luyt noted that as the team looked harder at the discovery hole, what they found suggested it was a nickel-copper-cobalt type that would be similar to a Nova-Bollinger style deposit.

Commodity analysts have continued to bang the drum on a massive copper shortfall, and Fifield was bullish on his company’s chances to play its part filling it.

“With Nifty, Maroochydore, our Murchison portfolio and our Paterson JV with IGO, Cyprium has some of the best assets and exploration ground in Australia to deliver into the growing global requirements for copper,” he said.

CYM Drillhole Section

Cyprium shares a drillhole section of a copper standout at Heeler at its Cue project in WA’s Murchison area

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