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    CYM   AU0000050536

CYPRIUM METALS LIMITED

(CYM)
Delayed Australian Stock Exchange  -  11:57 2022-11-27 pm EST
0.0930 AUD    0.00%
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Cyprium Metals Ltd (ASX:CYM) Maroochydore Project 2021 Drilling Campaign Update

12/12/2021 | 05:50pm EST

Perth, Australia, Dec 13, 2021 - (ABN Newswire) - Cyprium Metals Limited (ASX:CYM) is pleased to report the completion of the first field season of drilling at the Maroochydore Copper Project as detailed in Figures 2 to 4* and sections 1 to 3.

HIGHLIGHTS

- 46 RC drillholes for 5,990m completed to infill and extend the Maroochydore oxide/supergene resource - first assay results expected in January 2022

- 4 oxide/supergene and 2 sulphide diamond drillholes for 1,226m completed for metallurgical and waste characterisation testing

- Results from metallurgical and waste characterisation testing will advance resource estimation and scoping study work

Managing Director Barry Cahill commented:

"It is very pleasing to have completed our first season of drilling at the Maroochydore Copper Cobalt Project. Maroochydore, like Nifty, is hosted in the shales of the Broadhurst formation.

Having now visited the site, I was absolutely blown away by the physical footprint of this shallow copper cobalt deposit, which is more than 3 kilometres in length.

The quality of the mineralisation in the RC chips and diamond drill core was also impressive. We now eagerly await the assay results from these drilling programmes."

The Company's 6 diamond drillhole programme for 1,226m as detailed in Figure 2* and outlined in sections 1 to 3, obtained oxide, supergene and sulphide core samples for metallurgical and waste characterisation testing. The sulphide mineralisation remains open and has been lightly drilled to date. These results will be used in a scoping study for the project's development path and timetable.

The 46 RC drillhole programme for 5,990m as detailed in Figure 3* and outlined in sections 1 to 3, was a combination of infill and extensional drilling, aimed at testing the oxide, transitional and supergene mineralisation at the Maroochydore copper project.

The oxide mineralisation currently extends over a strike length of 3,000m, has a width up to 800m and thicknesses up to 100m, as modelled in the existing JORC 2012 mineral resource estimate as outlined in Figure 4* and sections 1 to 3.

Diamond drill core will be composited into bulk samples for metallurgical and waste characterisation testing, the results of which are expected to be available in the second half of 2022. RC drill chips will be assayed and the results to be included in a revised mineral resource estimate of the Maroochydore copper deposit. These assay results will also be announced to the market as they are received by the company during Q1 2022.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/S6Z74R87


<b>About Cyprium Metals Ltd:</b>

Cyprium Metals Limited (ASX:CYM) is poised to grow to a mid-tier mining business and manage a portfolio of Australian copper projects to deliver vital natural resources, strong shareholder returns and sustainable value for our stakeholders. We pursue this aim, in genuine partnerships with employees, customers, shareholders, local communities and other stakeholders, which is based on integrity, co-operation, transparency and mutual value creation.

<b>Contact:</b>

Barry Cahill
Executive Director
T: +61 8 6374 1550

Wayne Apted
Chief Financial Officer
and Company Secretary

Lexi O'Halloran
Investor and Media Relations
E: lexi@janemorganmanagement.com.au
T: +61 404 577 076
E: info@cypriummetals.com

Copyright (C) 2021 ABN Newswire. All rights reserved., source Press Releases English

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Financials
Sales 2021 0,02 M 0,02 M 0,02 M
Net income 2021 -26,7 M -18,0 M -18,0 M
Net Debt 2021 4,79 M 3,23 M 3,23 M
P/E ratio 2021 -2,76x
Yield 2021 -
Capitalization 67,9 M 45,8 M 45,8 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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