Cyprium Metals (ASX: CYM) Turbocharges Activities at Nifty Mine 

Summary

  • 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. 

READ MORE: Cyprium Metals (ASX:CYM) wraps up the acquisition of Paterson Copper portfolio

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. 

ALSO READ: Cyprium Metals (ASX:CYM) Delivers Stellar Results in March Quarter, Acquires Paterson Project

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.

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

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. 

ALSO READ: Cyprium Metals on track to beef up its copper portfolio at Paterson & Nifty projects

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. 

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

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. 

ALSO READ: Strong market response to Cyprium Metals’ promising assay results at Nanadie Well

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. 

ALSO READ: How Cyprium Metals is planning to make the most of copper boom?

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.


Disclaimer
The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK