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Australian copper company, Cyprium Metals Limited (ASX: CYM) (Cyprium or the Company), is pleased to present an updated 2024 Mineral Resource Estimate (MRE) for its flagship asset the Nifty Copper Mine (Nifty) in Western Australia.
HIGHLIGHTS
- Nifty Measured and Indicated mineral resource grows to 119mt at 0.84% pct Cu for 1 million tonnes contained copper
- Potential to further enhance mineral resource from existing mineralised heap leach inventory
- Updated MRE incorporates past underground modelling of Nifty in detail and supports plans for a large-scale, open-cut mine
- 95% of global resource now Measured and Indicated
“We’re pleased to produce an updated Mineral Resource Estimate for Nifty,” said Executive Chair Matt Fifield. “Nifty is one of the largest non-operational copper projects in Australia, and the only brownfield project that can be reactivated in short order. This update is the result of a disciplined process run by the Cyprium team and MEC Mining. Our objective with this MRE scope was to ensure a strong foundation for our planning work, including pit optimisation and mining studies.”
Table 1: Nifty Copper Deposit March 2024 Mineral Resource Estimate (MRE) above 0.25% Cu.Numbers are rounded to reflect a suitable level of precision. Numbers may not sum due to rounding.
Table 2: 2024 Nifty MRE update cut-off grades totals.
Nifty’s sedimentary-hosted copper resource showcases stable mineralisation patterns, defined by comprehensive drilling and mining activities spanning more than 30 years. This robust dataset, in conjunction with geological and structural information not included in the previous estimate, has given the company a better understanding and sharper definition of the deposit and significantly upgraded the resource classifications and its economics.
Plan, long-section looking north and cross section looking west showing the Nifty Middle Carbonate Unit wireframe and drilling used in the 2024 MRE update. (MEC Mining Nifty 2024 MRE release memorandum).
“As a result of the detailed study work, the proportion of the resource categorised as Measured & Indicated has risen from 80% to 95%, bolstering the project’s feasibility and long-term economic prospects,” said Fifield.
3D View of Nifty 2024 MRE resource categories. (MEC Mining Nifty 2024 MRE release memorandum).
“This MRE is the basis for our workstreams to redevelop Nifty into a significant new copper mine,” said Fifield. “With a million tonnes of contained copper, this resource should support a large scale mine. This is the long-term opportunity at Nifty.”
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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