White Metal Resources Corp. has received notification from Quadro Resources Ltd. that it is withdrawing from the Seagull option agreement signed February 18, 2020, citing the need to focus on their gold projects in Newfoundland. Michael Stares, President and CEO of the Company, stated, "This provides an excellent opportunity for the Company to find a quality partner who is committed to advancing this highly ...

White Metal Resources Corp. (TSXV: WHM) ("White Metal" or the "Company") has received notification from Quadro Resources Ltd. that it is withdrawing from the Seagull option agreement signed February 18, 2020, citing the need to focus on their gold projects in Newfoundland.

Michael Stares, President and CEO of the Company, stated, "This provides an excellent opportunity for the Company to find a quality partner who is committed to advancing this highly prospective Project. The Property has not seen any serious exploration work since 2005 and given the strong performance outlook for platinum, palladium and rhodium, we believe this Project deserves further exploration."

The primary target in the Project area is the Seagull Lake Intrusion ("SLI"), described as a 10 km diameter, circular intrusive composed of ultramafic rocks with a high olivine content and derived from a deep mantle source. Layering and multiple phases of intrusion have been recognized, creating a favourable setting for Noril'sk Type sulphide accumulation. The SLI is located in the Nipigon Plate, which is interpreted to represent the failed third arm of a Proterozoic-aged, mid-continent rift system, the bulk of which lies beneath Lake Superior to the south. This rifting event is interpreted to be associated with significant Cu-Ni-PGE mineralization such as the Duluth Gabbro Complex deposits (Dunka Road, Minnamax, Local Boy, etc.) in Minnesota, USA, the Eagle Nickel Mine (Lundin Mining) in Michigan, USA, and the Great Lakes Nickel deposit in Ontario. Known platinum group element-copper-nickel zones in the intrusion support the interpretation that Proterozoic ultramafic intrusions in this area of the Nipigon Plate have undergone magmatic processes that are capable of producing large PGE-Cu-Ni sulphide deposits (see Company news release dated March 12, 2019).

Three styles of PGE mineralization have been identified in the SLI: (1) near surface, PGE-rich detrital "black sands"; (2) magnetite associated, PGE-rich layers or "reef-type"; and, (3) sulphide associated, basal Cu-Ni-PGE mineralization, interpreted as "Noril'sk-type". Although the detrital and reef-type mineralization was the first style known in the SLI, the discovery of Noril'sk-type Cu-Ni-PGE sulphide mineralization became the focus for subsequent exploration programs, which reported from diamond drilling 3.6 g/t Pt+Pd, 0.34% Cu and 0.21% Ni over 2.1 metres and 1.04 g/t Pt+Pd, 0.14% Cu and 0.16% Ni over 16.0 metres (from Pettigrew, 2002). The possibility for the discovery of other styles of sulphide mineralization remains, including Contact-type deposits (e.g., Lac des Iles Mine and River Valley Deposit, Ontario) and structurally hosted high-grade concentrations along regional fault systems. It is important to note that the SLI contains anomalous concentrations of additional platinum group elements rhodium, iridium, osmium, and ruthenium. The current spot price of rhodium is approximately US$12,700 per troy ounce.

Historical Diamond Drilling

The most recent diamond drilling and re-sampling of historical drill holes was completed by Platinum Group Metals ("PTM") between 2001 and 2005. This work reported encouraging concentrations of PGE from drill core intercepts with the highest concentrations of PGE reported in 2005 (see PTM news release dated 01/04/2005). PTM reported that their exploration drilling had demonstrated lateral continuity of the mineralized zones within the SLI Seagull Intrusion and that they were typically characterized by near 1:1 platinum to palladium ratios, significant Cu and Ni grades and strongly elevated concentrations in the other "rarer PGEs" (Rh, Ir, Os, Ru). PTM also noted that historical PGE-Cu-Ni intercepts from the SLI compare favourably to the famous Merensky Reef in South Africa's Bushveld Complex with known mineralized horizons at the SLI being considerably shallower than those currently being mined and explored in South Africa.

PTM reported on "total PGE" analyses from drill core which in addition to platinum and palladium included the "rarer PGEs" rhodium, iridium, osmium, and ruthenium (Table 1). PTM noted that the concentrations of the "rarer PGEs" were unusually high compared to their global database of PGE mines, deposits and occurrences (see PTM news release dated 22/04/2005).

Table 1. Historical drill core assay results with total PGE (Platinum Group Metals Inc., 22/04/2005).

Drill Hole Horizon From To *Int Au Pt Pd Ir Os Rh Ru 6PGE+Au
(m) (m) (m) (ppb) (ppb) (ppb) (ppb) (ppb) (ppb) (ppb) (g/t)
WM05-20

Lower 
Dunite

329.12 333.40 4.28 47 826 895 120 151 54 41 2.13
incl. 331.68 333.40 1.72 88 1526 1640 221 289 99 71 3.93
incl. 331.68 332.12 0.44 220 3690 3990 674 891 294 204 9.96
WM00-01

Lower 
Dunite

577.30 581.54 4.24 60 669 781 79 114 37 27 1.77
incl. 578.16 580.00 1.84 78 852 993 125 188 54 40 2.33
WM00-05 Peridotite 734.45 736.00 1.55 134 1731 2069 39 54 30 10 4.07
incl. 735.43 736.00 0.57 251 3250 3920 58 83 50 13 7.63
WM00-06 Peridotite 390.23 391.29 1.06 2 505 623 18 22 13 15 1.20
WM00-01

Upper 
Dunite

533.14 536.41 3.27 30 223 260 26 29 13 10 0.59

 
*it is not known if these drill hole intervals represent true widths and are therefore being treated as core length intersections.

Drill hole WM05-20, which contains the shallowest intercept to date of the Lower Dunite Reef, between 329.12 and 333.40 metres vertical depth, returned 6PGE (Pt, Pd, Rh, Ir, Os, Ru) plus Au concentrations ("6PGE+Au") of 2.13 g/t over 4.28 m, including 3.93 g/t 6PGE+Au over 1.72 m, and 9.96 g/t 6PGE+Au over 0.44 metres. PTM also reported a high-grade intercept from the Peridotite Zone (drill hole WM00-05) that returned 7.63 g/t 6PGE+Au, within a broader intercept of 1.55 metres grading 4.07 g/t 6PGE+Au.

Re-sampling of quartered drill core from the Lower Dunite Reef Zone (drill hole WM00-01) returned 1.84 m of 2.30 g/t 6PGE+Au within a broader zone, between 577.3 and 581.54 m vertical depth, of 4.24 m grading 1.76 g/t 6PGE+Au. PTM's re-sampling also confirmed the presence of the Upper Dunite Reef Zone in hole WM00-01 over a 3.27 m interval between 533.14 and 536.41 m, grading 0.57 g/t 6PGE+Au. Re-logging and re-sampling of drill hole WM00-06, collared approximately 600 m east of hole WM00-05, also intersected the Peridotite Zone and returned 1.20 g/t 6PGE+Au over 1.06 m between 390.23 and 391.29 metres. Hole WM00-06 is 1,150 m (1.15 km) southwest of the previously reported high-grade Peridotite Zone intercept of 6.21 g/t 6PGE+Au over 0.65 metres in drill hole WM04-17. Both the Upper and Lower Dunite Reefs were also identified in hole WM05-22 which returned lower concentrations of PGE.

A Qualified Person has not independently verified the historical data and the scientific and technical information disclosed in this news release.

Technical information in this news release has been reviewed and approved by Dr. Scott Jobin-Bevans (P.Geo.), Vice President Exploration and a Director of White Metal, who is a Qualified Person under the definitions established by the NI 43-101.

About White Metal Resources Corp (TSXV: WHM):

White Metal Resources Corp. is a junior exploration company exploring in Canada. For more information please visit the Company's website at www.whitemetalres.com.

On behalf of the Board of Directors of White Metal Resources Corp.

"Michael Stares"
Michael Stares
President & CEO, Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information contact:

Michael Stares
684 Squier Street
Thunder Bay, Ontario, Canada, P7B 4A8
Phone: (807) 358-2420 Fax: (807) 475-7200

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/71844

News Provided by Newsfile via QuoteMedia

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Cyprium Metals Ltd Nifty Copper Project Update and Presentation

Perth, Australia (ABN Newswire) - Cyprium Metals Limited (ASX:CYM) is pleased to announce progress at its Nifty Copper Project. Since taking control of the site on the 30th March 2021, the Company has made significant progress towards establishing itself as an Australian copper producer.

Project Progress

Drilling programmes continue to upgrade mineral resource confidence, close the gaps in resource and to target extensional areas of the mineralised formation. Currently the Phase 2 reverse circulation ("RC") drilling programme is being completed in the South East of the Nifty open pit. There are now approaching 4,000 samples from this programme that have not had assays returned. Further to this, there remain over 8,000 samples for which assays have not been returned from the +16,000 metre South West drilling programme that was completed in November. The RC drilling continues to intersect ore grade intervals and following receipt of assays, will be included in the mineral resource model for the design and scheduling of the planned Nifty open pit. Once all of the assays have been received, a follow up Phase 2 drilling programme will be planned in the South West of the Nifty open pit and a follow up Phase 3 drilling programme in the South East of the Nifty open pit will be planned. This is very positive for the Nifty Copper Project as there are further copper tonnes to be added to the project copper inventory but also potentially delays final mine designs and schedule progress.

Design and scheduling of the open pit continues based on the recently released Nifty Mineral Resource. The current pit envelope does not include any increase in resources from the results of our drilling programmes as mentioned above. These designs will be sufficient to be included in the Restart Study and for the Finance process but will not be final until the resource is re-estimated during the first quarter of 2022 at the earliest.

Engineering design of the SX-EW plant and heap leach pads is nearing completion. The new heap leach pads construction and design detail is required for the Works Approval submission so that construction activities can commence. Concurrent with the design process, tenders are being issued for the purchase and supply of long lead items.

Metallurgy check column test work continues. Four columns have been undertaken, including the fourth column which is a 6-metre column to match operating conditions. Results have been as expected and optimisation of reagent consumptions continues. When this round of work has been completed, a number of follow up tests will be conducted to further optimise the operating parameters. Reporting to the market on these results will be done once the test work has been completed on the residues and the reports compiled. There will also be follow up tests undertaken on core and sonic drill samples. In addition, there are 550 sonic samples yet to be assayed that have been obtained from around the site to test for the location of stockpiled oxide material.

A consultant has been engaged to firstly, build a complete mass balance and copper recovery cathode software model for the project based on the metallurgical parameters and then secondly, to design and build a metallurgical accounting system for the project so that it is ready upon the commencement of plating copper metal at Nifty. This work is well advanced.

Finance process will commence once the Restart Study is finalised. Outstanding items are schedules, with allowance for an extended approval timeline, and final costs on a number of items including civil construction elements of the heap leach pads and associated crushing infrastructure.

Government Approvals are required in the new areas of the project. As a State Agreement tenement there is a Ministerial approval required to amend the project size and life. There is a requirement for clearing permits for the new clearing required for the new heap leach pads and an amendment to a current approval for the extension to the waste dump. There is an amended Mining Proposal required for the restart of the pit, pads and SX-EW which includes submission of a Project Management Plan and a Mine Closure Plan. There is an amended Works Approval required for the restart of the SX-EW and the new heap leach pads and an amendment to the Water Licence for the change in water extraction method from underground. There are also a number of smaller permits required around the restart of the mining operation, that require reactivation or renewal.

The process of obtaining these approvals is well advanced, having conducted initial meetings and workshops, document compilation is nearing completion. The first submission of the required proposals for the clearing of native vegetation for the waste dump and the new heap leach pads has already been lodged. This is the first stage in the approval process, with management and consultants preparing submissions for the subsequent approvals. Progress is being hampered by shortage of personnel and availability of external specialists to complete the various reports that are required to lodge approval documentation. The expectation is that all documents will be lodged by the first quarter 2022.

Government staff have been very helpful in assisting CYM in making sure that the required proposals contain all that is necessary for an efficient approval process but the various departments, like the whole WA resource industry are suffering from understaffing, and it is expected that the timelines to approval will be longer than originally anticipated. Site visits have been undertaken and the learnings from these visits have been helpful in ensuring that the proposal documentation is complete.

During CYM's tenure, staff have rectified a number of legacy issues at the site that have been paid little attention for some years and site crews have managed to rectify a number of areas that have previously been raised by the regulators. Further, the site crew have been cleaning and collecting years of rubbish and waste to centralised locations and are now going through a process of scrap, recycle or disposal for these waste streams. These waste streams also include chemicals and reagents that are expired and have been on site for many years. The sale of unwanted or scrap equipment has been commenced with sold items already been removed from site. This process will continue for some time due to the volume of equipment, materials, scrap and rubbish that has built up while Nifty was operational.

Refurbishment of the oxide crushing circuit and SX-EW plant has begun. Currently the plant is being stripped down and assessed for refurbishment on an item-by-item basis. The items to be refurbished are then despatched to the required refurbishment location for the work to be undertaken whether on site, in Perth or Kalgoorlie or another specialist location. As an example, the EW electric rectiformer has already been delivered to the workshop in NSW for its refurbishment. The items are also matched with any parts or spares in stock in the warehouse.

The accumulation process as described in the site clean-up section has also delivered a significant number of new and "useable" items back into the store, which had previously been located in sub or "squirrel" stores around the site. Stores staff are still in the process of cataloguing all these items for which they lack sufficient centralised storage areas for. As items are declared not required and sold it creates space to bring in items from those other areas.

Accommodation Camp refurbishment has begun with the eastern side of the camp undergoing a refurbishment process first. The refurbishment will bring the accommodation standard to be aligned with Cyprium's attraction and retention requirements for site personnel. Once the eastern refurbishment is complete the western refurbishment will commence. The dry mess is undergoing a refurbishment process concurrently with the eastern side of the camp.

Management Appointments

CYM is pleased to announce it has strengthened its management team as it progresses towards becoming a copper producer. The appointments made are to ready the team for the transition from Restart Study to construction and ultimately to production at the Nifty Copper Project. The company is fortunate to be able to make such quality appointments during a very tight labour market and this reinforces the quality of Cyprium's portfolio of Copper projects and the appeal of the Nifty Restart to experienced industry veterans.

John Banning has been promoted as the Chief Operating Officer for Cyprium. John's previous role for Cyprium was General Manager - Nifty and he is a mining engineer with over 20 years' experience in the mining and construction industries covering multiple commodities. His professional expertise extends from project development, construction, operations, technical, business improvement and management. John has previously been an independent consultant, Managing Director and Regional General Manager. He has worked with multiple large and mid-size resource companies in Australia and overseas.

Gavin Hammer has been promoted as the General Manager - Project Development and Operational Readiness. Gavin's previous role for Cyprium was Manager Engineering. Gavin is a maintenance professional with over 30 years' experience in asset maintenance and management, which includes surface and underground operations within fixed and mobile plant applications. His areas of expertise include the construction, commissioning, optimisation and asset management of process plants and mobile fleet operations in local and remote regions. Prior to joining Cyprium Metals, Gavin spent 5 years in Indonesia at the Wetar Copper Project follow by 2 years in Western Africa in operational and project construction roles.

Clint Moxham has been appointed as General Manager - Nifty. Clint is a mining engineer with over 20 years' of experience, with a track record of delivering greenfield and restart operations. He has a reputation of safe operations with a career long record of team management and mining operations successes. He is a mining engineer, geologist and mineral economist, with multi commodity expertise ranging from mining strategy, risk management, data analysis, infrastructure development, geological understanding, option analysis and mining due diligence.

Amanda Croft has been appointed Technical Services Manager - Nifty. Amanda is a geologist with over 20 years' experience in the mining industry covering multiple commodities. Her professional expertise extends from development and operational open pit and underground mines as well as greenfield and brownfield exploration in Australia and Africa. She has previously held management roles with a number of resource companies.

Managing Director Barry Cahill commented:

"The Cyprium team continues to kick goals on its way to producing copper metal plate at Nifty. Drilling success continues, design process is proceeding, and we have commenced refurbishment of the project. Despite our best efforts and the exceptional progress that we have made in 8 months, there are pressures being felt throughout the mining industry. These additional pressures are primarily due to labour shortages, increasing costs, COVID related impacts and long timelines that have impacted on our original projections.

These same factors are also impacting on processing times for regulatory approvals. Consequently, we have been forced to reschedule our forecast project timelines, with the commencement of new construction activities now expected in September 2022, following regulatory approvals. Copper metal production at Nifty will now commence by the second half of 2023. As usual for our team, we will aim to commence copper production at the earliest opportunity."

To view the Investor Webinar Presentation, please visit:
https://www.abnnewswire.net/lnk/E9LNO8T3



About Cyprium Metals Ltd:

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.



Source:
Cyprium Metals Ltd

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