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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) Significant Copper Intersections from Nanadie Well Drilling

11/21/2021 | 05:42pm EST

Perth, Australia, Nov 22, 2021 - (ABN Newswire) - Cyprium Metals Limited (ASX:CYM) is pleased to report final diamond drillhole results from the Phase 1 diamond drilling programme completed at Nanadie Well earlier this year (refer to Figure 2*).

The Company's 5-hole (1,328m) diamond drilling programme was designed to test for sulphide mineralisation below a depth of 50m associated with a layered mafic intrusive unit outlined in the previous reverse circulation (RC) drilling programmes.

Extensive zones of copper sulphide mineralisation were intersected in all holes from the diamond drilling programme to a drill hole depth of 312m (refer to Figure 1*). The oxide and sulphide mineralisation currently extends over a strike length of 750m and remains open along strike to the north and south and across strike to the west.

The results from the all the drilling completed to date at Nanadie Well will be used in the preparation of a Mineral Resource estimate for inclusion in the Murchison Copper-Gold Project scoping study.

Detailed evaluation of the drill core and multi-element data is ongoing to better understand the geological controls to the primary copper mineralisation. Encouragingly, elevated nickel and palladium values were found associated with several of the significant copper intervals.

Significant assay results from holes NWD2002 and NWD2101 are summarised in Tables 2 to 5* and presented on Figure 1*. Representative photos of the copper sulphide mineralisation in the drill core from both holes are shown in Images 1 to 7*.

Managing Director Barry Cahill commented:

"This is another set of fantastic drill results from this extensive copper deposit emerging at Nanadie Well, which remains open in multiple directions.

We will soon be commencing a mineral resource estimate in advance of metallurgical studies to optimise the extraction of copper and gold from a potential heap leach operation. In the meantime, work is progressing to refine our understanding the geological controls of the primary copper mineralisation, which assists in the planning of the next phase of drilling.

In addition, a preliminary evaluation of the multi-element geochemical data is showing an encouraging association between copper, nickel and palladium."

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/7Q52L4CL


<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 -18,1 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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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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CYPRIUM METALS LIMITED-50.91%39