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    CYM   AU0000050536

CYPRIUM METALS LIMITED

(CYM)
Delayed Australian Stock Exchange  -  12:10 2022-12-09 am EST
0.0810 AUD   +2.53%
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Cyprium Metals Ltd (ASX:CYM) Nanadie Well 180m Sulphide Ore Grade Cu Intercept from 10m

08/03/2021 | 08:11pm EST

Perth, Australia, Aug 4, 2021 - (ABN Newswire) - Cyprium Metals Limited (ASX:CYM) is pleased to provide the third diamond drillhole results from the Phase 1 diamond drilling programme that was conducted at the Nanadie Well Copper-Gold Project in December 2020 and January 2021.

HIGHLIGHTS

- Third diamond drill hole NWD2003 continues extensive shallow sulphide copper-gold intersection immediately below oxide copper-gold halo

- Broad 180m zone of copper mineralisation from 10m to 190m intersected in drillhole NWD2003

Executive Director Barry Cahill commented:

"We are excited to announce the assay results from the third drill hole of the Phase 1 Nanadie Well diamond drilling campaign that was completed earlier this year, with all drill holes intersecting visible copper mineralisation.

Diamond drill hole NWD2003 was drilled in the central section of the deposit and returned another strong intersection of 180m at 0.6% Copper and 0.2 g/t gold. The mineralisation has been consistent in the central section of Nanadie Well and we look forward to commencing metallurgical studies to optimise the extraction of copper and gold from a potential heap leach operation at the deposit.

This is another set of fantastic drill results for this extensive deposit, which is very shallow, broad, consistently mineralised and is open in multiple directions."

Near-surface oxide and extensive sulphide mineralisation has been identified during the Phase 1 drilling programmes, which is open along strike to the north and south and across strike to the west. The mineralisation does not outcrop and is covered by 1 to 25 metres of transported material. Preliminary investigations of the Nanadie Well deposit data indicates potential for oxide and sulphide mineralisation over the currently identified strike of 750 metres.

The Company's 1,328 metre Nanadie Well diamond drilling programme was completed in January 2021 and was primarily designed to test the sulphide mineralisation below 50m depth at the deposit. There is an extensive shallow sulphide copper-gold intersection continuing immediately below the oxide material derived from the layered mafic intrusive unit that has been outlined in the previous Reverse Circulation ("RC") drilling announcements and quarterly reports (refer to Quarterly Activities Report - 31 Dec 2020, Quarterly Activities Report - 31 March 2021 and June 2021 quarterly activities report at:
https://cypriummetals.com/quarterly-activities-report-19

The results from this drilling, the Phase 1 RC January 2021 campaign and subsequent drill programmes will be used in the preparation of a JORC 2012 compliant mineral resource estimate for Nanadie Well during 2021 for inclusion in the Murchison Copper-Gold scoping study.

The assay results for NWD2003 are presented in Appendix 2, Tables 1 and 2*.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/786R2P8E


<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>

Cyprium Metals Ltd
T: +61 8 6169 3050
WWW: www.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 -18,1 M -18,1 M
Net Debt 2021 4,79 M 3,26 M 3,26 M
P/E ratio 2021 -2,76x
Yield 2021 -
Capitalization 59,1 M 40,2 M 40,2 M
EV / Sales 2020 148x
EV / Sales 2021 4 083x
Nbr of Employees -
Free-Float 84,4%
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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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