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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 Nifty West Drilling

11/01/2021 | 04:56pm EST

Perth, Australia, Nov 2, 2021 - (ABN Newswire) - Cyprium Metals Limited (ASX:CYM) is pleased to announce that first assay results from the Nifty West drilling program. The initial batch of results* are from 16 RC holes (for 3,830m) drilled within the existing resource model.

- First assay results received from the Nifty West drilling program targeting lightly tested areas of copper mineralisation below and to the immediate west of the former Nifty open pit.

- Multiple zones of significant copper mineralisation intersected in the keel of the Nifty Syncline below the open pit.

Managing Director Barry Cahill commented:

"The first phase of drilling at Nifty West has clearly demonstrated excellent potential to expand the existing open pit resource up-plunge of the former underground mine within the keel area of the Nifty Syncline. Follow-up drilling is being planned as a priority.

In the meantime, we look forward to reporting further assay results from the Nifty West drilling program once they are received and the first results from our Maroochydore drilling program which is now well advanced."

Discussion of results

Wide intervals of low to medium-grade copper sulphide mineralisation were encountered on the two sections lines (101,480E - Figure 3 and 101,520E- Figure 4*) drilled below the western end of the open pit.

This mineralisation is interpreted associated with the up-plunge extent of the Nifty Syncline keel zone, which has been lightly drilled tested from both surface and underground.

The results from the western extensions of the former Nifty open pit were generally consistent with the low-grade results from the previous wide-spaced holes.

Further drilling will be conducted to the immediate west of this keel zone as a priority, which has the potential to materially grow the existing +0.6 Mt copper resource inventory at Nifty (Figure 5*).

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/DEJ01671

To view the latest company presentation, 1 2 1 Investment APAC Online, please visit:
https://www.abnnewswire.net/lnk/1DM38I3K


<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 40,0 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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