Cyprium Metals Releases Updated Mineral Resource Estimate for Nifty Copper Deposit


Base metals explorer Cyprium Metals (ASX:CYM) has released an updated mineral resource estimate for the Nifty copper deposit in Western Australia following the results of a drilling program and a restart study. project.

The new figures stand at 95.1 million tonnes grading 1.0% copper for a total contained copper inventory of 940,200 tonnes, reflecting a 28.4% increase from the previous inventory of 208,000 t.

Total oxides increased to 16.1 Mt at 0.9% copper for approximately 144,300 t, providing additional near-surface copper inventory for Phase 1 of the project.

Cyprium confirmed that the update uses the same methodology, resource depletion, grade interpolation, density algorithms, grade protocols and classification codes as shown in the first estimate released in November.

Resource drilling

The new mineral resource estimate follows resource drilling at the Nifty West target which included 71 reverse circulation holes for a total of 18,867 metres.

The program targeted lightly drilled areas upstream of the old underground mine, in the keel area of ​​the Nifty Syncline below the western end of the Nifty open pit.

It confirmed the continuation of significant copper mineralization in the western keel zone up to 100m thick, which is considered ideal for large scale open pit development.

Highlights were 20m at 0.70% copper from 210m, including 1m at 1.04% from 210m; 4m at 1.29% copper from 214m; 1 m at 1.23% copper from 221 m; and 1m at 1.42% copper from 225m.

Other results were 31 m at 1.61% copper from 234 m, including 14 m at 2.72% from 235 m; 13m at 0.55% copper from 268m, including 1m at 1.14% from 271m and 1m at 1.26% from 273m.

The Nifty deposit was drilled and sampled using several techniques, with holes drilled from surface and subsurface and at varying spacings along and across strike of the deposit.

Approximately 303,000 m have been drilled in total in the immediate vicinity of the deposit.

Start study again

Released in March, the Nifty Project Restart Study focuses on a Phase 1 development centered on heap leach and solvent electrowinning (SX-EW) to produce a metallic copper cathode on site.

Cyprium said the significant inventory and increase in heap-leachable oxide mineralization confirmed by the updated resource estimate presented an additional opportunity for project economics.

Restart of the SX-EW heap leach facility will result in the resumption of surface mining; refurbishment of existing heap leach sinter, stockpile and material equipment and irrigation systems; refurbishment of leach pads and construction of additional leach pad capacity for reprocessing of existing materials; refurbishment of existing SX-EW installations; and a restoration of support reagent systems.

The Nifty Project already has substantial infrastructure in place, including a 2.8 million tonnes per annum sulphide concentrator (put into service and maintenance status at the end of 2019); a 25 kilotonne per year copper cathode heap leach plant SX-EW (under care and maintenance since January 2009); a 21 megawatt gas turbine power plant, gas pipeline and electricity distribution system; water supply and reticulation systems, including multiple well fields; heavy vehicle workshops and mining accommodation village; an all-weather sealed airstrip; and a 4G communication network.

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