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Cyprium Metals Limited (ASX:CYM) (CYM, Cyprium or the Company) has made a shallow high-grade discovery near Cue at the Heeler Prospect approximately 10km southwest of the Company’s Hollandaire copper-gold deposit.
Highlights include:
- Drill intercept of 15m at 3.26% Cu, 0.70g/t Au, 7.4g/t Ag, 151ppm Co from 70 metres downhole in 24CURC004
- Including: 7m at 5.04% Cu, 0.81g/t Au, 11.4g/t Ag, 197ppm Co, 0.11% Ni from 71m
- Second intercept in 24CURC004 of 3m at 1.09% Cu, 0.44g/t Au from 108m
- Including: 1m at 2.54% Cu, 1.19g/t Au from 109m
- Mineralisation is open to depth and along strike in both directions within a lightly tested copper soil anomaly extending for 2.5 kilometres along strike
“While the Company remains focused on delivering a robust plan for Nifty, we continue to maintain our outstanding portfolio of exploration assets,” said Executive Chairman Matt Fifield. “This new Heeler discovery is a great reminder of the prospective value within the Company’s earlier-stage assets in the Paterson and Murchison provinces. Our exploration team targeted our limited drilling budget in the Murchison around the most prospective areas and hit outstanding grade that shows potential for an economic orebody. Solid focused work by the team – congratulations to Mark, Peter and Milan on the discovery hole.”
The Heeler Prospect is in the Murchison Province on tenements within the Company’s Cue joint venture with Ramelius Resources Ltd (ASX: RMS). This joint venture is operated by Cyprium, with 80% of the rights to base metals owned by Cyprium and 20% by Ramelius.
“With Heeler, Cyprium continues to build on its copper-gold resource inventory in the Murchison,” said COO Milan Jerkovic. “We have 203,000 tonnes of copper resource and 153,0000 ounces of gold (100% basis) at the nearby Hollandaire and Nanadie Well deposits and follow up work around Heeler may well bring additional grade and scale into our portfolio. There are assays from this program outstanding, but we’re pleased to have hit shallow high- grade mineralisation.”
“The Cue region is an area that’s known for its gold deposits but hasn’t been well explored for its base metals potential,” said Cyprium geologist Mark Styles. “At Heeler for example, we were attracted by the large, lightly tested +100ppm copper soil anomaly up to 400m wide and 2.5 kilometres long, historic shallow drill results with 0.3% copper in the core of the soil anomaly and a coincident geophysical magnetic high. These features are suggestive of a mafic-ultramafic association with base metal mineralisation in a style distinct from the felsic- hosted Hollandaire copper-gold deposit located 10km northeast of Heeler.”
Figure 1 – Project Location
“We drilled four holes in our programme focusing on Heeler, following up on work in 2022. So far we have assays back from a single drillhole completed in our January 2024 programme. The 24CURC004 intercept showed stacked shallow sulphide mineralisation that was visible in the drill chips. We also hit sulphides in the three other holes, but we’re expecting lower tenor assay results, <1% copper,” said Styles.
24CURC004 assay results show 15m at 3.26% Cu, 0.70g/t Au, 7.4g/t Ag, 151ppm Co from 70m, including 7m at 5.04% Cu, 0.81g/t Au, 11.4g/t Ag, 197ppm Co, 0.11% Ni from 71m. A second intercept in the same hole returned 3m at 1.09% Cu, 0.44g/t Au from 108m, including 1m at 2.54% Cu, 1.19g/t Au from 109m.
Click here for the full ASX Release
This article includes content from Cyprium Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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