Cyprium Metals (ASX: CYM)
Announced a 28.4% increase in its Nifty Copper Mine’s Measured Resource Estimate to 940,200 tonnes of contained metals.
The Nifty Copper Mine is located in north-eastern Pilbara region of Western Australia, approximately 330km southeast of Port Hedland. […]
|Cyprium Metals||ASX: CYM|
|Market cap||A$88m @ 15.5c|
|Location||Pilbara, Western Australia|
Cyprium Metals increased Nifty Copper MRE by 28.4% to 940,200t copper metal
16th May 2022 – Cyprium Metals (ASX: CYM) announced a 28.4% increase in its Nifty Copper Mine’s Measured Resource Estimate to 940,200 tonnes of contained metals.
The Nifty Copper Mine is located in north-eastern Pilbara region of Western Australia, approximately 330km southeast of Port Hedland.
Nifty is the 6th largest development project in Australia, ranked by contained copper metal, but has the highest grade and is the only project being developed in the near term
208,000t (28.4%) increase in the contained copper metal to 940,200t in the updated Nifty Copper Mineral Resource estimate (“MRE”)
Total oxide MRE increased to 16.1Mt at 0.9% Cu for 144,300t of contained copper metal, providing further near surface copper inventory for the Nifty phase 1 oxide copper project.
Nifty East drilling will be included in the Q3 2022 MRE update (primarily targeted further oxide extension)
Drilling programmes confirmed copper mineralisation still open to the southeast and west
Copper metal contained in existing restart heap leach pads in addition to the MRE
Cyprium Metals management comments
“There is a significant increase in the contained copper metal tonnes in the latest Mineral Resource Estimate for Nifty.
“Once again, this demonstrates the quality and scale of the Nifty deposit, which remains open.
“The updated Mineral Resource Estimate provides additional copper metal inventory for the Nifty phase 1 oxide copper project and underpins a potential open pit mine-life of greater than 20 years.
“Further assay results from the Nifty east drilling programme will be announced later this month.
“The results of this drilling programme, which targeted the shallower oxide zone of the deposit, are expected to further extend the Nifty phase 1 oxide mine-life.”
Cyprium metals Managing Director, Barry Cahill
About Cyprium Metals Limited (ASX: CYM)
Cyprium Metals Limited is an ASX listed company with copper projects in Australia.
The Company has a highly credentialed management team that is experienced in successfully developing sulphide heap leach copper projects in challenging locations.
The Company’s strategy is to acquire, develop and operate mineral resource projects in Australia which are optimised by innovative processing solutions to produce copper metal on-site to maximise value.
The Company has projects in the Murchison and Paterson regions of Western Australia that is host to a number of base metals deposits with copper and gold mineralisation.
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