Updated Nifty Mineral Resource Estimate Reaches 1 Million Tonnes Contained Copper

Updated Nifty Mineral Resource Estimate Reaches 1 Million Tonnes Contained Copper

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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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.



Source:
Cyprium Metals Ltd

News Provided by ABN Newswire via QuoteMedia

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