Half Yearly Report and Accounts
Cue Copper Project
The Cue Copper Project is located in the Murchison region of Western Australia (refer to Figure 1*), which is host to a number of Volcanic Massive Sulphide ("VMS") deposits. VMS deposits are noted to occur in clusters when in favourable geological settings, such as those in the Cue Copper Project area, which is located approximately 20km to the east of Cue in Western Australia. The Project contains the Hollandaire copper deposit.
During the first half of 2020, Cyprium completed 4,902 metres of Reverse Circulation ("RC") drilling at the Cue Copper Project. RC drilling at the Eelya South prospect returned an intersection of 3.0m @ 3.78% Cu in drill hole 20ESRC014 which also included 6.68 g/t Au and 81.0 g/t Ag from 59m (refer to Figure 2*).
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. There was a continuation of the sulphide rich zone in this RC drilling programme however significant copper grades were not intersected. Field work at the Eelya South prospect was resumed during the first half of 2020 following the RC drilling results to evaluate the potential for further copper rich sulphides in the prospect area.
An RC drilling programme at Hollandaire was conducted around the margins of the existing deposit to test extensions of the mineralisation. The results show continuation of the mineralisation and the intersections are being taken into consideration in the planning for testing of further depth extensions through geophysical and drilling programmes.
Cyprium completed a regional field mapping and surface sampling campaign at the Rapier West and Mt Eelya prospects, to the north-west of the Hollandaire deposits. A review and field inspection has been conducted on the regional prospects to prioritise targets for the next phases of drilling as part of Cyprium's strategy to increase its copper resource base at the Cue Copper Project. Samples were taken of mineralised quartz/iron gossans at the Rapier West and at Mt Eelya (refer to Figure 3*) which included the following assay results:
- 12.3% Cu in Rapier West north costean surface sample
- 13.0% Cu in Mt Eelya Gossan 1 surface sample
- 10.6% Cu in Mt Eelya Gossan 3 surface sample
- 10.2% Cu in Mt Eelya Gossan 8 surface sample
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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.
Cyprium Metals Ltd