Eelya South Drilling Results and Continuing Programmes
Eelya South Drilling Highlights:
- 3.0m @ 3.78% Cu, 6.68 g/t Au & 81.0 g/t Ag in drill hole 20ESRC014 with from 59m
- 2.0m @ 10.12% Cu, 3.19 g/t Au & 92.0 g/t Ag in drill hole ERC19 with from 40m
Note: Rounding applied to the grades
This high-grade copper/gold southern Eelya South intersection in drill hole 20ESRC014 was drilled to test a structure, previously identified at Eelya South in the 1990's which returned an intersection of 2.0m @ 10.12% Cu, 3.19 g/t Au and 92.0 g/t Ag from 40m in drillhole ERC19 (refer to Figure 2*). These high-grade copper/gold drilling intersections are located less than 1 kilometre to the south of the surface sampling programme that was previously announced on 4 November 2019. The follow up RC drilling as outlined in Figure 2* at the prospective Eelya South tenement area is underway and will be completed by the end of March 2020.
Executive Director Barry Cahill commented "We are very pleased with the drilling programme at Eelya South, in particular with the 3 metres at 3.78% copper intersection result whilst testing drilling targets in an area that previously been subject to very limited drilling activities.
These shallow high-grade copper intersection results from the very prospective Eelya South prospect are within 6 kilometres of the Hollandaire copper deposits meaning the deposits are well within economic trucking distances of each other. We are continuing our drilling activities which are focused on expanding the mineralised copper footprint at the Cue Copper Project to bring us closer to the critical mass required to advance this project to a developmental stage.
We look forward to updating the market with the results of the current drilling programmes once the results have been received."
Earn-in and Joint Venture
Pursuant to an agreement between a wholly owned subsidiary of CYM and Musgrave Minerals Limited (ASX:MGV), an option has been granted by Musgrave Minerals Limited to earn-in and joint venture for an 80% interest in the non-gold rights over the tenements at the Cue Copper Project (CYM ASX Release 25 March 2019).
*To view tables and figures, please visit:
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.
Musgrave Minerals Ltd
Cyprium Metals Ltd