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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) Site Operations Continue to Accelerate at Nifty

07/05/2021 | 08:34pm EST

Perth, Australia, July 6, 2021 - (ABN Newswire) - Cyprium Metals Limited (ASX:CYM) is pleased to provide an operational update on the Nifty Copper Project. The Company continues to make significant progress on its strategy of developing an open pit heap leach, Solvent Extraction and Electrowinning ("SX-EW") operation to produce LME grade A copper cathode metal plate on-site.

HIGHLIGHTS

- Mineral Resource Definition Drilling has commenced:

o 3,000m of drilling of south-east limb complete
o 16,000m drill out of the western limb has commenced
o 2nd RC drill rig is due to arrive at site in mid-July
o 3rd drill rig for surface diamond drill holes is scheduled for mid-July
o Sterilisation drilling for site infrastructure is complete

- Multiple streams of Metallurgical testwork underway with initial observations very encouraging:

o Column tests underway on heap leach pad trench samples
o Sonic drill rig successfully drilling samples from the heap leach pads
o Diamond Drill rig to arrive in mid-July to provide core samples from in-situ mineralisation for testwork

- Site surveys and baseline studies being conducted

- Further key management and personnel appointments completed

- Stakeholder site visits conducted, including Traditional Owners and Government representatives

Executive Director Barry Cahill commented:

"We are pleased to provide an update on the activities at our rapidly evolving Nifty Copper Project. An RC drill rig has been at Nifty for more than two months now to conduct sterilisation and resource definition drilling with another RC rig due to arrive shortly. A diamond drill rig is also scheduled to arrive at Nifty in the coming weeks.

These additional drill rigs have been brought to site due to the expansion of our resource drilling programmes into the targeted in-situ resources areas around the open pit.

Metallurgical test-work is underway on the trench samples taken from the heap leach and further samples are on their way to Perth from a sonic rig drilling campaign. We are very excited with the initial observations of the leaching from the column testwork at this early stage. We are also proceeding with the optimisation of the leaching process for the heap leach retreat at Nifty.

Manning numbers continue to increase as we recruit more personnel to site and ramp up our activities. All facets of the planned work for the Nifty study and recommencement are proceeding as scheduled. We will keep the market updated as drilling and metallurgical results come to hand in the coming weeks and months."

To view tables and figures, please visit:
https://abnnewswire.net/lnk/HTEWVF18


<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 40,0 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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