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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) Nifty West Grows with Further Significant Cu Intersections

02/27/2022 | 05:36pm EST

Perth, Australia, Feb 28, 2022 - (ABN Newswire) - Cyprium Metals Ltd (ASX:CYM) is pleased to announce the receipt of assay results from a further 16 RC holes (for 4,186m) at Nifty West. The drilling programme is targeting lightly drilled areas up-plunge of the former underground mine in the keel area of the Nifty Syncline below the western end of the Nifty open pit (Figure 1*).

Hole locations from the current program are shown in Figure 2* with the significant intersections summarised in Table 2*.

Discussion of results

The results reported in this announcing represent additional holes drilled on existing section lines 101,520E, 101,560E, 101,600E, 101,640E and 101,680E with 5 holes completed on new section line 101,720E.

Managing Director Barry Cahill commented:

"We are pleased to announce further results from drilling to the southwest of the Nifty mineralisation. These assay results continue to confirm the presence of a substantial zone of copper mineralisation, which is up-plunge of the former underground mine. There are significant widths of mineralisation beneath the existing open pit. We believe this will provide additional tonnes of copper material that can be mined from a future large-scale open pit development at Nifty. We are also looking forward to providing further updates on the lodging of government approvals and the results of the Nifty Copper Project Restart Studies in the coming weeks."

*To view tables and figures and full discussion of results, please visit:
https://abnnewswire.net/lnk/KBBRXVUY


<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) 2022 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 40,0 M 40,2 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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