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Highlights
- Cyprium Metals has declared the maiden MRE at its Nanadie Project, highlighting the extensive polymetallic potential of the project.
- The mineralisation at the project is shallow and broad and remains open at depth and along strike to the north.
- CYM remains optimistic that there is significant potential for resource extension and the MRE offers a clear pathway for the upcoming development of the project.
In the latest update, Cyprium Metals Limited (ASX:CYM) announced the maiden Mineral Resource Estimate (MRE) for its Nanadie Well deposit. The MRE is part of the company’s wider Murchison Copper-Gold Project.
The market welcomed the news and the CYM stock has zoomed up ~19.6% from AU$0.092 (18 July 2022, closing price) to AU$0.110 (22 July 2022, AEST: 2:57PM).
Nanadie gets 2012 JORC compliant MRE
The latest MRE for the Nanadie Project meant that CYM now has 2012 JORC compliant mineral resources at all of its copper projects.
The wider Nanadie Well model suggests the possibility for expanding the known resource along strike as well as down dip.
Nanadie Well 2012 JORC MRE (Source: CYM Announcement 19/07/2022)
The Nanadie Well polymetallic orebody, preliminary MRE comprises the following:
The present resource tapers with depth and indicates the potential to extend this laterally at depth with additional deeper drilling.
Besides this, the present resource developed is based on near-surface to a nominal depth of 220mRL. However, there exists a possibility to enhance the depth extents to exceed the limits of the deepest drilling, which is presently down to 160mRL.
Potential for expansion of known resource
The mineralisation intersected by deeper holes extending beyond the lower limits of the modelled 2022 resource have intersected mineralisation with similar down hole mineralised widths and grades like those included in the modelled resource.
Source: CYM Announcement 19/07/2022)
Furthermore, this suggests the potential to delineate additional mineralisation within the layered intrusive body at depth. Trends in mineralisation are also highlighted, with Nickel and Cobalt grades growing towards the northern end of the present Inferred Resource.
CYM believes that there also exists the potential for the expansion of the known resource along strike with additional closer-spaced drilling.
Source: CYM Announcement (19/07/2022)
CYM’s plans for upcoming drilling
Geological information sourced from all earlier drill holes has been used in the Cyprium Ordinary Kriged 2022 resource model. Moreover, only the assay data from 145 RC holes and 6 diamond drill holes drilled since 2004 has been used in the latest resource estimate. The resource is reported at a 0.25% Cu cut-off.
Source: CYM Announcement 19/07/2022
According to CYM, a wider block model generated will help in upcoming drill planning and identifying structural trends in the mineralisation.
CYM extended the full model to exceed the limits of reported Inferred Resource to support upcoming drilling plan and to ensure that any preliminary open pit shells would lie within the modelled limits.
The Nanadie Well MRE presently extends from the base of the quaternary surface cover sands and clays down to a maximum depth of 220mRL, and the mineralisation remains open at depth.
