- Cyprium has continued to expedite work programs and studies at the Nifty mine site, ever since it gained control of the site.
- Trenching into the heap leach has been completed, with samples sent to Perth-based laboratories for metallurgical enhancement test work.
- The development plan at Nifty involves an open-pit mining operation, SX-EW processing flowsheet and feeding a heap leach.
Cyprium Metals Limited (ASX: CYM) continues to march ahead with its strategy to develop an open-pit heap leach SX-EW operation for the on-site production of LME Grade A copper cathode metal plate. Notably, the Company took over the complete management of the Nifty mine site after closing the Paterson Copper Project transaction on 30 March 2021.
Cyprium has fast-tracked several workstreams supporting its development plans since the Company took full site control at Nifty, stated Cyprium Executive Director Barry Cahill in a market update on 11 May.
Citing the company’s recent endeavours, Mr Cahill stated that Cyprium has “hit the ground running” in executing the simplified development plan, which consists of an open-pit mining operation, SX-EW processing flowsheet and feeding a heap leach.
Let us look at the flurry of recent developments panning out at the Nifty mine.
Appointment of Key Management and Project Personnel
Cyprium has made crucial management and project appointments including:
- Geology Manager
- HSE Manager
- Finance Manager
- Indigenous Engagement Manager
Additionally, the Company has recruited personnel to move the site back to an operational readiness status. The appointments include relevant trades for maintenance roles, general labour, supporting supervision and back-to-back superintendents.
Furthermore, work at the site is underway in full swing, including a general site clean-up, which has brought many supplementary and replacement stores back to a central location.
Cyprium Makes All-Round Progress at Nifty Project Site
Cyprium has continued to expedite the work programs and studies required to refurbish and simplify the Nifty Copper Operation development plan.
Exploration Initiatives Advancing Well
Drilling of sterilisation holes has kicked off using an RC drill rig for the planned infrastructure locations present on the west of the existing heap leach pads. It will be followed by the commencement of resource drilling adjacent to the open pit.
Source: CYM Update, dated 11 May 2021
The Company undertook a detailed mineral resource review, identifying further priority drill targets around the existing resource position. Cyprium is mobilising additional drill rigs to the site for completing the work.
A specialist drill rig is scheduled to be mobilised to the site by May-end. It will enable obtaining samples from closer to the heap liner, further allowing completion of metallurgical test work. Geotechnical drilling will be undertaken using the specialist rig on the civil sites for the new infrastructure locations and waste characterisation of the existing waste dumps.
Cyprium has concluded trenching into the heap leach pads, with samples sent to Perth-based laboratories for carrying out metallurgical enhancement test work.
Source: CYM Update, dated 11 May 2021
Review Ongoing to Enhance Financial Viability
An engineering report and cost estimate to compare the refurbishment versus purchasing a new solvent extraction and electrowinning (“SX-EW”) processing plant have been completed and under review. The Company expects to finalise a decision in the near term on the preferred path.
Cyprium’s Focus Towards Sustainable Development
The Company has engaged with the relevant government departments and traditional owners concerning the simplified development plan at Nifty. The interactions have turned out to be constructive, with the Company advancing on a collaborative basis to keep all stakeholders appraised of the progress and timelines.
The Company’s commitment to improving the communications capacity and capabilities involve an upgrade from 3G to 4G. The project incurs approximately A$1 million expenditure and is scheduled to be completed in the coming 6 to 9 months.
Source: CYM ASX Update, dated 11 May 2021
The general site clean-up has begun, especially re-locating the items of all stores to a central location and scrap material is being collected for assessment.
Flora and fauna surveys are planned by May-end this year, consisting of the planned infrastructure locations. Cyprium has also engaged water management consultants for finalising water balance requirements for the site. At the same time, the company has engaged environmental consultants to ensure that plans abide by the mine closure obligations.
CYM shares traded at A$0.300 on 11 May 2021.