Cyprium Metals

Strategic Alliance with Macmahon to Accelerate Redevelopment of Nifty

Cyprium Metals Limited (ASX: CYM, OTC: CYPMF) (Cyprium or the Company), a copper developer focused on recommencing production at the Nifty Copper Complex in the Paterson region of Western Australia (Nifty), has entered into a non-binding Heads of Agreement (HOA) for a Strategic Alliance with leading global mining services provider Macmahon Holdings Ltd (Macmahon) (ASX: MAH) to accelerate Cyprium’s redevelopment of Nifty.


Highlights of the Strategic Alliance include:

  • Macmahon to lead and contribute internal resources to complete the Bankable Feasibility Study (BFS), subject to stage gates, for the redevelopment of Nifty via an Early Contractor Involvement (ECI) Contract, building on Cyprium’s recent Pre-Feasibility Study (PFS) announced 27 November 2024.
  • Following the completion of the works under the ECI Contract, and subject to the parties’ agreeing all relevant terms, it is envisaged that Cyprium and Macmahon will enter an exclusive period to agree the terms of a life-of-mine, whole-of site alliance style operations contract.
  • ECI scope includes Macmahon leading Nifty site operations to accelerate scoping of feasibility studies and refurbishment programs.
  • Macmahon to identify early revenue opportunities and undertake rapid restart scenario planning to maximise advantage of brownfield infrastructure and prolific data.

Cyprium Executive Chair, Matt Fifield, commented: “The Strategic Alliance with Macmahon represents a significant step forward in enhancing our operational and execution capacity, building required capability through partnership. Macmahon is a recognised leader in mining services, bringing extensive expertise in engineering, procurement and best-in-class operating and environmental systems. Their operations align with the scale required for the new open-pit development at Nifty. They operate at the scale of mine and equipment that a new open pit at Nifty will require. Macmahon’s expertise brings real-life experience to the feasibility process that further de-risks Nifty and sets parameters of our execution plans.

“It’s clear that Cyprium and Macmahon share a common vision for long-term success – deliver on the 20- year reserve life potential of the Nifty Copper Complex and exploit accretive near-term revenue opportunities. Expect more on this in 2025 as we turn study work into actionable plans.”

Macmahon Managing Director and CEO, Mick Finnegan, said:“We are excited to partner with Cyprium and contribute to accelerating Nifty’s redevelopment. Nifty, the Paterson Range, and copper more broadly, are very interesting to us. The project requirements fit many of our core capabilities including engineering services, operational execution, and providing end-to-end value for our clients. We look forward to the redevelopment of Nifty and resuming its history as a leading producer of Australian copper and being a value-adding execution partner for Cyprium.”

Macmahon to Lead BFS

It is envisaged that Macmahon will take the lead role with the BFS and contribute internal engineering, planning, estimation and project management resources needed to complete the BFS and restart copper production, through the ECI Contract and subject to stage gates. Cyprium will fund BFS costs related to work scopes not completed by Macmahon.

The BFS will build on Cyprium’s 2024 PFS, which demonstrated the economic viability of a new surface mine to feed a refurbished plant to produce 694,000 tonnes of copper in concentrate across a 20-year project life (Concentrate Project), and a low capital, high returning opportunity to reprocess existing above- ground heap leach reserves to quickly establish revenues by producing copper cathode (Cathode Project).

Alliance-Style LOM Contract Expected

The HOA includes an exclusive period during which the parties commit to progressing the feasibility studies and executing an alliance-style life-of-mine contract. The parties expect this contract to cover all operations on site including surface mining, concentrator refurbishment, cathode startup, and ancillary infrastructure. The exclusive period commences from the execution of the ECI Contract.


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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Advancing Western Australia’s historic Nifty copper mine for near-term production and long-term growth

Cyprium Metals Limited

Nifty Copper Project Poised to Unlock Value for Cyprium Metals, Report Says

Description

The latest MST Access analyst report values Cyprium Metals( ASX:CYM) at AU$0.10 per share, significantly above its current trading price of AU$0.027. The valuation is underpinned by the company’s dual-track approach to restarting the Nifty copper project, a standout asset with a 20-year mine life and the potential to become one of Australia’s largest open-pit copper producers.

By leveraging existing infrastructure and its low capital intensity, Cyprium is positioned to deliver exceptional returns, according to the report. With plans to secure a strategic partner in 2025 and a fast-tracked production timeline for its Cathode project, Cyprium represents an undervalued opportunity in the ASX copper space.

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Cyprium Metals Ltd  Nifty East Extensional Infill Drilling Results

Cyprium Metals Ltd Nifty East Extensional Infill Drilling Results

Perth, Australia (ABN Newswire) - Cyprium Metals Limited (ASX:CYM) is pleased to announce that assay results have been received from the Nifty East infill extensional drilling. The program comprised 21 RC holes for 5,725m targeting areas from the previous program which identified encouraging widths of oxide/transitional mineralisation extending east and sulphide mineralisation extending east at depth beneath the former Nifty open pit (Figure 1*).

HIGHLIGHTS

- All results received from Nifty East Extensional Infill drilling program, targeting the oxide/transitional mineralisation and sulphide mineralisation at depth beneath the open pit

- Results demonstrate potential to define additional shallow mineralisation for the planned heap leach restart and grow the existing +0.9 Mt contained copper Mineral Resource

- Significant widths of copper mineralisation intersected are shown below

Executive Director Barry Cahill commented:

"The first phase of drilling at Nifty East has firmed up our understanding of the copper mineralisation extending from the current Nifty open pit and clearly demonstrates excellent potential to grow the existing resource further east. The results will be added to the resource model. These East drilling results along with the previously released West drilling clearly demonstrate the potential to expand the mineral resource as further phases of drilling proceed.

Discussion of results

Section 102,800E

Hole 21NRSP021 confirmed oxide mineralisation that was previously intercepted in holes 21NRSP006 and 21NRSP011 (Figure 3* 18m at 0.45% Cu, including 1m at 2.35% Cu). Hole 21NRSP021 also extended sulphide mineralisation at depth within the carbonate-shale host rocks (4m at 0.36% Cu, 3m at 0.47% Cu and 17m at 0.52% Cu, including 2m at 1.14% Cu and 6m at 0.16% Cu).

Section 102,840E

Hole 21NRSP030 confirms oxide mineralisation close to surface that was previously intersected in hole 21NRSP001 and historical drillhole NCP0317 (Figure 4* 3m at 0.15% Cu, 3m at 0.14% Cu and 5m at 0.26% Cu). Three deeper holes intercepted sulphide mineralisation extensions at depth where there is no historical drilling.

Hole 21NRSP0022 intercepted 3m at 0.19% Cu, 11m at 0.66% Cu including 2m at 1.57% Cu and 3m at 0.31%, and 5m at 0.51% Cu including 1m at 1.40% Cu. Hole 21NRSP0031 intercepts include 6m at 0.33% Cu and 7m at 1.14% Cu including 4m at 1.76% Cu. 21NRSP0032 intersected 3m at 0.21% Cu, 3m at 0.29% Cu and 4m at 0.20% Cu.

Section 102,880E

Figure 5* illustrates infill transitional and sulphide mineralisation which was intercepted in hole 21NRSP039 (3m at 0.69% Cu including 1m at 1.21% Cu, 3m at 0.44%, 4m at 0.30% Cu, 5m at 0.18% and 3m at 1.18% Cu including 2m at 1.38% Cu), and Hole 21NRSP023, which intercepts upper sulphide mineralisation (12m at 0.74% Cu including 2m at 1.20% Cu and including 1m at 1.50% Cu and including 1m at 1.26% Cu).

Section 102,920E

The drilling has identified further extensionsto the oxide mineralisation east of the Nifty pit. The mineralisation is mostly in proximity to the northern limb of the Nifty Syncline. It has also been confirmed to extend further south, interpreted as an extension of the sub-parallel zone of supergene copper mineralisation, which was identified in the first phase of drilling by Cyprium Metals in 2021.

Hole 21NRSP0033 (4m at 0.14% Cu, 3m at 0.16% Cu, 6m at 0.22% Cu, 14m at 0.27% Cu, 5m at 0.17% Cu and 3m at 0.26% Cu) and Hole 21NRSP034 (3m at 0.13% Cu, 4m at 0.16% Cu, 3m at 0.19% Cu, 4m at 0.70% Cu including 2m at 1.17% Cu, 3m at 0.30% Cu, 5m at 0.32% Cu and 1m at 1.23% Cu) have confirmed oxide and transitional mineralisation previously unidentified (Figure 6*).

The sub-parallel zone of supergene mineralisation was intercepted by hole 21NRSP024 (5m at 0.47% Cu including 1m at 1.36% Cu and 4m at 0.11% Cu). This hole also confirms sulphide mineralisation at depth (13m at 1.08% Cu including 1m at 1.12% Cu and including 3m at 3.10% Cu).

Section 102,960E

The drilling has confirmed oxide and transitional mineralisation previously identified in historical holes. New extensions to sulphide mineralisation to the east and at depth have also been identified (Figure 7*).

Hole 21NRSP035 confirms intercepts of shallow oxide and deeper transitional mineralisation (4m at 0.16% Cu, 7m at 0.16% Cu and 8m at 0.24% Cu).

Hole 21NRSP026 has intercepted the southern sub-parallel zone of supergene copper mineralisation (6m at 0.16% Cu). Sulphide mineralisation within the Nifty Syncline carbonate-shale host rocks was intercepted at depth (7m at 0.30%, 7m at 0.34% Cu and 4m at 0.20% Cu).

Sulphide mineralisation was intersected higher in the stratigraphic sequence in hole 21NRSP0025 (13m at 0.52% Cu including 1m at 1.48% Cu and including 1m at 2.13% Cu) and at depth (3m at 0.42% Cu and 4m at 0.19% Cu).

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/ETZVU06G



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.



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