Cyprium Metals (ASX: CYM) jumps on shallow high-grade copper discovery at Cue’s Heeler prospect - Kalkine Media

Highlights

• Cyprium has discovered shallow high-grade copper at the Heeler prospect on the Cue joint venture.
• Assays for 24CURC004 drillhole show 15m at 3.26% Cu, 0.70g/t Au, 7.4g/t Ag, 151ppm Co from 70m.
• The mineralisation is open to depth and along strike in both directions.
• CYM shares traded higher by over 11% midday on 20 February 2024.

Cyprium Metals Limited (ASX: CYM) has discovered shallow high-grade copper at the Heeler Prospect located in the Murchison province. The prospect lies on tenements within the company’s Cue joint venture (JV) with ASX-listed company, Ramelius Resources. In the JV, 80% of the rights to base metals are held by CYM, while the remaining 20% are held by RMS.

Four holes were drilled at Heeler as part of following up on work in 2022. As of now, the company has received assay results from a single drillhole - 24CURC004, which was finalised in January 2024 programme. Stacked shallow sulphide mineralisation was evident in the drill chips, highlighted the 24CURC004 intercept.

Significant assays included-

• Drill intercept of 15 metres @ 3.26% Cu, 0.70g/t Au, 7.4g/t Ag, 151ppm Co from 70 metres downhole in 24CURC004, including 7 metres @ 5.04% Cu, 0.81g/t Au, 11.4g/t Ag, 197ppm Co, 0.11% Ni from 71m.
• Second intercept in 24CURC004 of 3 metres @ 1.09% Cu, 0.44g/t Au from 108m, including 1 metre at 2.54% Cu, 1.19g/t Au from 109m.
• Mineralisation extends along strike for 2.5 kms within a lightly explored copper soil anomaly, remaining open both in depth and along strike in both directions

CYM’s copper-gold resource inventory

CYM holds 203,000 tonnes of Cu resource and 153,0000 ounces of Au at the nearby Hollandaire and Nanadie Well deposits. The company expects the follow up work around the Heeler prospect to bring additional scale and grade into the portfolio.

The Cue region has not been explored well for its base metal potential. At Heeler, as per the company, it was attracted by the huge, sparsely tested +100ppm copper soil anomaly, which is maximum 400m wide and 2.5km long. The historical shallow drill results showed 0.3% copper in the core of the soil anomaly core and a coincident geophysical magnetic high.

  Data source: Company update

CYM may consider undertaking further follow up work after receiving all assays.

CYM shares trade higher

CYM shares jumped 11.11% to trade at AU$0.020 apiece at the time of writing on 20 February 2024.