Join our daily newsletter At The Bell to receive exclusive market insights
- Cyprium Metals (CYM) has intersected near-surface copper supergene mineralisation at the Nanadie Well Copper-Gold Project in WA’s Murchison district
- Cyprium began a 3500-metre drilling program earlier this month which is aimed at testing the extent of supergene mineralisation at the project
- Pleasingly, mineralisation is open along strike to the north, south and to the west which shows significant upside potential
- The results will be used to complete a mineral resource which is expected to be released during the second half of the year
- The mineral resource will then be included in the ongoing Murchison Copper-Gold Project scoping study
- Company shares are up a slight 1.89 per cent and trading at 27 cents
Cyprium Metals (CYM) claims its ongoing reverse circulation (RC) drilling program at the Nanadie Well Copper-Gold Project is progressing well.
The 3500-metre program began on January 6 and is designed to test the supergene mineralisation of the project.
Nanadie is located roughly 650 kilometres northeast of Perth and about 75 kilometres southeast of Meekatharra in the Murchison district of Western Australia.
Pleasingly, drilling has already intersected visible, near-surface copper supergene mineralisation which is open along strike to the north, south, and to the west.
“Drilling to date has seen visible copper supergene mineralisation in the RC chips such as malachite, azurite and chrysocolla. The presence of these visible minerals is very exciting as we submit samples to the assay laboratory for analysis,” Executive Director Barry Cahill said.
“We will eagerly await the results of this programme to define the extent of the supergene mineralisation at the Nanadie Well,” Barry added.
Cyprium plans to use the data from this RC drilling program, and the ones to follow, to prepare a JORC 2012-compliant mineral resource for the Nanadie Well deposit. This is expected to be released during the second half of the year.
The mineral resource will then be included in the ongoing Murchison Copper-Gold Project scoping study.
Company shares are up a slight 1.89 per cent and trading at 27 cents at 2:35 pm AEDT.
