Join our daily newsletter At The Bell to receive exclusive market insights
- Cyprium Metals (CYM) has released the results from drilling programs that were completed at the Hollandaire and Eelya South prospects
- Both of these prospects are part of the Cue Copper Project in Western Australia
- Drilling at the Hollandaire Prospect focused on the boundaries of an existing deposit to test the mineralisation extensions
- This program returned copper results as high as 1.78 per cent
- Drilling at Eelya South focused north of previously identified copper intersections
- However, while results confirmed a continuation of a sulphide-rich zone, no significant copper grades were intersected
- Cyprium has ended the day with no change and shares trading for 14.5 cents each
Cyprium Metals (CYM) has released the results from drilling programs that were completed at the Hollandaire and Eelya South prospects.
Hollandaire
Drilling at Hollandaire focused around the boundaries of an existing deposit to test extensions of the mineralisation.
Significant results include two metres at 1.78 per cent copper from 180 metres, two metres at 1.49 per cent copper from 180 metres, and four metres at 1.2 per cent copper from 144 metres.
These results show a continuation of mineralisation and they are being taken into account in the planning for future exploration and drilling programs.
Eelya South
Reverse circulation drilling at Eelya South focused north of previously identified copper intersections which were situated within a sulphide-rich zone.
While results confirmed a continuation of a sulphide-rich zone, no significant copper grades were intersected.
The most significant result includes one metre at 1.1 per cent copper from 35 metres.
Fieldwork at Eelya South has resumed to evaluate the potential for additional copper-rich sulphides.
“The extensions to the mineralised zones at the Hollandaire prospect are very pleasing to see and this is being taken into consideration in the ongoing scoping study, which includes a review of the most appropriate cut-off grade for the deposits,” Executive Director Barry Cahill commented.
“Further geological investigation is required at the Eelya South prospect as the sulphide zone is persisting but without the same tenor of copper mineralisation as previously encountered,” he said.
“The scoping study work is continuing in conjunction with our external consultants and we look forward to announcing the results in due course,” he added.
Both of these prospects are located within the Cue Copper Project in Western Australia.
Copper sulphide mineralisation was detected in the early 1970s, however, exploration from then until 2007 was mainly focused on gold.
Silver Lake Resources, who acquired the project from Tectonic in 2007, also focused on gold but it did occasionally include multi-element geochemistry that identified Hollandaire.
Musgrave Minerals then purchased the project in late 2015 and it also focused on gold exploration, however, it siphoned off the copper rights to Cyprium in early 2019.
Cyprium has ended the day with no change and shares trading for 14.5 cents each in an $8.128 million market cap.
