Hollandaire Copper-Gold Mineral Resource Estimate
The Hollandaire Copper-Gold Mineral Resource forms part of Cyprium's Cue Copper-Gold Project.
- The Hollandaire Copper-Gold Mineral Resource has been increased by 33% to 51,500 tonnes contained copper
- Resource updated to 2012 JORC with 43,000 tonnes contained copper in the indicated category
- 28,800 ounces of gold and 574,000 ounces of silver have also been defined in the updated resource
- The updated Hollandaire mineral resource is a significant advancement in the Murchison Copper-Gold scoping study
The updated Hollandaire Mineral Resource estimate has been based on data compiled from previous drilling, together with the drilling campaigns conducted by Cyprium from the second half of 2019 and during the first quarter of 2020. The Hollandaire JORC 2012 Mineral Resource estimate was completed by specialist consultants and Cyprium staff, and it will be included in the ongoing Murchison Copper-Gold scoping study.
The JORC 2012 Mineral Resource, as illustrated in Figure 2*, is contained in two shallow deposits, which are adjacent to each other, being the Hollandaire and Hollandaire West deposits, whereby the mineralisation begins from only 20 metres below the surface and extends to a depth of 180 metres at Hollandaire west, and 310 metres at Hollandaire, from surface, where the mineralisation remains open.
Over 80% of the mineralisation is less than 160 metres below surface, making it very accessible by conventional open pit mining methods. Furthermore, the mineralogy of the deposits are ideal for our unique low-cost heap leach sulphide treatment methodology, as demonstrated in the metallurgical test-work that was conducted on the deposits, which rapidly achieved copper recoveries in excess of 90% (refer to Image 1* and CYM ASX Announcement on 9 March 2020, "Copper Metal Plated").
The increased size and reporting of a 2012 JORC mineral resource, is a significant milestone in Cyprium's advancement of the project from mid-2019. Cyprium is continuing to advance the Cue Copper-Gold project through the ongoing Murchison Copper-Gold scoping study, which now also includes the 100% Cyprium owned Nanadie Well Copper-Gold Project, on the path towards its viable economic extraction.
The Hollandaire Copper-Gold Mineral Resources are located on the recently granted mining lease M20/526 (refer to CYM ASX Announcement on 9 September 2020, "Mining Leases Granted and New Exploration Tenements"), providing a clear pathway to develop the project.
Executive Director Barry Cahill commented "We are pleased to announce the results of our first resource update at the Cue Copper-Gold Project in the Murchison region. The mineral resource has increased by a third from the previously reported mineral resource, which reflects the potential copper endowment in this region.
We look forward to combining the updated Cue Copper-Gold Project copper-gold mineral resources with the recently acquired Nanadie Well Copper-Gold Project into the ongoing Murchison Copper-Gold scoping study. This is growing our Murchison regional resource base to the critical mass required to advance the scoping study through to a feasibility study stage, then ultimately leading to project development."
*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.
Cyprium Metals Ltd