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Cyprium Metals (ASX:CYM) reports encouraging RC drilling results at Cue project - Kalkine Media

November 17, 2022 06:26 PM AEDT | By Team Kalkine Media
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Highlights:

  • Cyprium Metals Limited conducted RC drilling at its Cue Copper Project in April/May 2022, targeting syngenetic-structural base metal deposits.
  • In its latest update, the Company has reported anomalous results at five of the seven targets tested at the project.
  • Elevated copper and gold values were returned upon RC drilling on E20/630 for three out of the four holes, which are under the northern half of an extensive soil anomaly.
  • Anomalous levels of copper, zinc, and gold were intersected by RC drilling at Mt Eelya.

Australia-based resource player, Cyprium Minerals Limited (ASX:CYM), reported assay results from the RC drilling campaign conducted at its Cue Copper Project in April/May 2022.

The Company is engaged in developing advanced-stage exploration and development projects in Western Australia that host many base metals deposits with copper and gold mineralisation.

The Cue project is Cyprium’s joint venture with Musgrave Minerals Limited (ASX:MGV), and is situated ~20km east of Cue, WA.

The Cue tenements span 180 square kilometres of volcano-sedimentary and intrusive rocks. The Company says that these are prospective for syngenetic-structural base metal deposits.

Through the 26 RC drillhole program, targets were tested on seven Cue exploration licences for a total of 3,441 metres.

Historical exploration in this area revolved around gold.

Cyprium geologists continue to review and evaluate both historical and Cyprium-generated data to identify potential base metal targets in the Cue Copper Project.

Mt Eelya update

At Mt Eelya, eight drillholes for a total of 1,200m tested targets close to the mineralisation intersected in historical drilling, airborne EM geophysical survey anomalies, and outcropping gossans. Four drillholes returned elevated copper or zinc values with associated anomalous gold in Hole 22CURC004:

Mt Eelya gossans and 2022 RC drilling results (Source: Company update dated 17 November 2022)

E20/630 update

Geologists of the Company are of the opinion that the association of intrusive mafics with ultramafic rocks is an indicator of the potential for magmatic copper-nickel mineralisation. The Ni/Cr ratio, which is used to keep apart anomalous values from background nickel values, was used to define the drilling targets.

E20/630 drillholes and soil anomalies (Source: Company update dated 17 November 2022)

Four RC holes were drilled for a total of 480m on two lines across an area of interest. The Company calls the drill results encouraging, as three of the four holes have returned elevated copper and gold values. Cyprium geologists will design a follow-up drill program upon getting all sample split results.

Significant intercepts results

These are the significant drill results:

Source: Company update dated 17 November 2022, image:  © Xtrekx | Megapixl.com

Management commentary:

© 2022 Kalkine Media®, data: Company update dated 17 November 2022

The way ahead

The Company’s geologists will select and submit for Assay 1m splits through mineralised intervals to fully understand the grade distribution. This, in turn, will help design the follow-up drill program.

Work is in progress to further investigate the potential of the anomalous results, says the Company.

CYM stock was trading at AU$0.094 as on 17 November 2022.


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