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Cyprium Metals (ASX: CYM) fetches spectacular shallow copper-gold assays at Nanadie Well

Summary

  • Cyprium Metals’ remaining set of assay results from Phase 1 RC drilling returned 2m @ 8.9% Cu. 
  • The 3500-metre drilling program was undertaken in January this year. 
  • The Company intends to use the results from Phase 1 drilling to prepare Mineral Resource Estimate for the Nanadie Well project, expected in 2021. 

Cyprium Metals Limited (ASX: CYM) has unveiled an excellent set of Phase 1 Reverse Circulation (RC) drilling results, indicating extensive shallow assays of copper and gold at its Nanadie Well Cu-AU Project. The 3500-metre drilling program was conducted in January 2021 with the aim to define the extent of mineralisation. 

Source: CYM ASX Update, dated 21 April 2021

Cyprium’s Managing Director Barry Cahill hailed the results from initial Phase 1 drilling, which demonstrated copper-gold mineralisation continuity across an extended strike, open to the north and south. 

He added that the broad, continuous, and significantly shallow horizon of supergene mineralisation enhances the value of the already attractive Nanadie Well project. Mr Cahill added that the Company was looking forward to the assay results from diamond drilling and would review downhole geophysics data concerning the sulphide mineralised zone.

Source: CYM ASX Update, dated 21 April 2021

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Robust Result Continue from Phase 1 Drilling

The phase 1 RC drilling results returned from 24 RC drillholes completed at the Nanadie Well are as below: 

ALSO READ: Latest assay results boost Cyprium Metals’ confidence in Nanadie Well project

  • 44m @ 0.9% Cu from 4m in NWRC21031, including:
    • 2m @ 8.9% Cu from 9m.
    • 1m @ 4.4% Cu from 20m.
  • 14m @ 2.4% Cu from 28m in NWRC21056, including:
    • 8m @ 3.8% Cu from 28m, including 2m @ 6.1% Cu from 30m.
  • 16m @ 1.5% Cu from 16m in NWRC21041 including:
    • 6m @ 3.3% Cu from 24m, including 2m @ 5.0% Cu from 24m.
  • 21m @ 0.9% Cu & 0.4g/t Au from 22m in NWRC21025, including
    • 12m @ 1.4% Cu & 0.6g/t Au from 30m, including 6m @ 2.1% Cu & 1.1g/t Au from 30m and 3m @ 1.5% Cu & 6.1g/t Au from 35m.
  • 14m @ 0.9% Cu from 2m in NWRC21045, including:
    • 3m @ 2.4% Cu from 3m.

The Company is yet to receive gold assays for drill holes NWRC21031, NWRC21041, NWRC21045 and NWRC21056.  

Source: CYM ASX Update, dated 21 April 2021

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Mineralisation at Nanadie Well

At the Nanadie Well project, a shallow oxide and supergene mineralisation has been identified, which is open to the north and south (along strike) as well as to the west (across strike). The oxide/supergene mineralisation, obscured by transported material of 1-25 metres depth, does not outcrop.

Source: CYM ASX Update, dated 21 April 2021

The project’s deposit data was investigated to indicate oxide/supergene mineralisation potential over the 750m strike. The Company indicated that the drilling results so far have confirmed the preliminary analysis. 

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Activities Planned at Nanadie Well

Cyprium Metals wrapped up Phase 1 RC drilling programme in January this year and tested the deposit’s oxide as well as supergene mineralisation. 

The Company intends to use the results from Phase 1 and further drilling programmes to prepare mineral resource estimate (JORC 2012 compliant) for Nanadie Well during the calendar year. It will then be included in the Murchison Cu-Au scoping study.

ALSO READ: Cyprium Metals (ASX:CYM) Winds Up Geophysics Programmes at Murchison Copper-Gold Projects

Cyprium advised that the pending gold assay results will be released over the coming weeks. 

CYM shares traded at A$0.245 at 3:44 PM AEST on 21 April 2021.


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