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    CYM   AU0000050536

CYPRIUM METALS LIMITED

(CYM)
Delayed Australian Stock Exchange  -  12:10:06 2023-02-07 am EST
0.1100 AUD   -4.35%
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Cyprium Metals Limited Announces Encouraging RC Drilling Results at the Cue Project

11/16/2022 | 05:56pm EST

Cyprium Metals Limited reported assay results from the April/May 2022 Reverse Circulation ("RC") drilling campaign which was completed at the Cue Copper Project as outlined. RC drilling of targets at Cyprium's Cue Project has returned anomalous results at 5 of 7 targets tested. RC drilling is targeted at discovering syngenetic-structural base metal deposits.

RC drilling on E20/630, under the northern half of an extensive soil anomaly returned elevated copper and gold values from 3 of the 4 drillholes the first completed under this untested soil anomaly. RC drilling at Mt Eelya under outcropping gossan intersected anomalous levels of copper, zinc and gold. 44m @ 1,167 ppm Cu & 3,525 ppm Zn from 0m in 22CURC004 including: 4m @ 5,020 ppm Cu, 8,720 ppm Zn & 0.12 g/t Au from 8m; 4m @ 3,800 ppm Cu, 2,030 ppm Zn & 0.39 g/t Au from 40m.

4m @ 6,850 ppm Zn from 24m in 22CURC005. 4m @ 5,385 ppm Zn from 68m in 22CURC005. 12m @ 1,380 ppm Ni & 139 ppm Co from 80m in 22CURC013.

8m @ 1,435 ppm Ni from 68m in 22CURC014. 16m @ 1,160 ppm Ni & 102 ppm Co from 52m in 22CURC015. 12m @ 1,937 ppm Cu & 0.12 g/t Au from 72m in 22CURC022.

8m @ 2,315 ppm Cu & 0.11 g/t Au from 56m in 22CURC024. 16m @ 2,969 ppm Cu from 88m in 22CURC025. 4m @ 7,220 ppm Cu & 0.13 g/t Au from 88m.

20m @ 2,010 ppm Cu from 100m to EOH in 22CURC026: 4m @ 3,750 ppm Cu & 0.15 g/t Au from 116m to EOH. The Cue tenements cover 180 square kilometres of volcano-sedimentary and intrusive rocks prospective for syngenetic-structural base metal deposits comprised of disseminated, stringer, semi-massive and massive sulphides ­ dominantly pyrite/pyrrhotite with associated chalcopyrite/chalcocite and minor bornite/sphalerite. Weathering of primary sulphides has resulted in oxide mineralisation at Hollandaire with development of oxide and supergene material noted but not fully defined at the Eelya South and Mount Eelya deposits.

Historic exploration in the area has predominately focussed on gold. The Hollandaire copper/gold deposit (Indicated and Inferred Resources of 2.78Mt @ 1.90% Cu & 0.32g/t Au) was discovered in 2011 and led to an exploration focus on base metal systems. Substantial datasets have been generated by previous owners of the tenements; Cyprium geologists are continuing to review and evaluate the historic and Cyprium generated data to identify potential base metal targets in the Cue Copper Project.


ę S&P Capital IQ 2022
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Financials
Sales 2021 0,02 M 0,02 M 0,02 M
Net income 2021 -26,7 M -18,5 M -18,5 M
Net Debt 2021 4,79 M 3,31 M 3,31 M
P/E ratio 2021 -2,76x
Yield 2021 -
Capitalization 80,3 M 55,6 M 55,6 M
EV / Sales 2020 148x
EV / Sales 2021 4 083x
Nbr of Employees -
Free-Float 84,4%
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Managers and Directors
Barry John Cahill Managing Director & Executive Director
Wayne Apted Chief Financial Officer & Secretary
Gary Ernest Comb Non-Executive Chairman
John Banning Chief Operating Officer
Nicholas Rowley Non-Executive Director
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