- Initial results from the Nifty east drilling program highlight the strong potential to define additional shallow mineralisation.
- Nifty East drilling program targeted the potential extension of oxide or transitional mineralisation from the former Nifty open pit.
- Initial results from Nifty western extension drilling are anticipated shortly.
Cyprium Metals Limited (ASX: CYM) has announced results from the Nifty East extensional drilling, highlighting the potential to define additional shallow mineralisation and improve the existing copper Mineral resource, which presently stands at over 0.6 Mt.
Nifty East drilling program targeted the potential extension of oxide or transitional mineralisation from the former Nifty open pit. Cyprium is focussed on a near-term heap leach production strategy at Nifty.
Commenting on the latest set of assay results, Cyprium Executive Director Barry Cahill stated,
“The first phase of drilling at Nifty East has firmed up our understanding of the copper mineralisation extending from the former Nifty open pit and clearly demonstrates excellent potential to grow the existing resource further east. Follow-up drilling is currently being planned and we look forward to updating the market on the results from the extensional drilling to the west of the Nifty pit.”
Overview of the Nifty east drilling program
The initial program consisted of 18 RC holes which total 3,011m. The program was focused on increasing the drilling density over the sparsely tested eastern extension of the existing resource. Limited previous drilling at Nifty’s eastern extension had returned, encouraging widths of oxide and transitional zone copper mineralisation.
Source: CYM ASX Update, dated 28 September 2021
Encouraging Results boosts progress on Nifty
Cyprium is advancing well on its heap leach strategy at Nifty, with the results indicating that additional shallow mineralisation can be defined for the planned heap leach restart.
Significant widths of copper mineralisation intersected from the drilling include:
- 21m at 0.45% Cu from 122 metres in hole 21NRSP001, including:
- 5m at 1.28% Cu from 124m
- 3m at 0.62% Cu from 157 metres in hole 21NRSP015 including:
- 1m at 1.22% Cu from 158m
- 5m at 0.39% Cu from 166m
- 10m at 0.37% Cu from 176m in hole 21NRSP016
- 13m at 0.55% Cu from 77m in hole 21NRSP018, including:
- 2m at 2.06% Cu from 80m
Holes 21NRSP001, 21NRSP016 and 21NRSP015 successfully confirmed the eastern extensions to the Nifty mine host carbonate-shale sequence.
Meanwhile, a sub-parallel zone of interpreted supergene copper mineralisation was intersected to the immediate south in varying holes. The zone is untested and thus could represent an additional trend of copper mineralisation. The Company intends to investigate further the mineralisation potential from the zone in more detail during the next phase of drilling.
Road Ahead at Nifty East
Cyprium is currently planning follow up drilling. Meanwhile, the Company has indicated that initial results from Nifty western extension drilling are expected shortly.
CYM shares traded at A$0.225 on 28 September 2021 (AEST: 1:15 PM).