Eelya South Prospect Drilling Update
All of the Eelya South prospect initial phase drillholes have intersected the targeted structure with altered and mineralised material observed at the supergene horizon, from a depth of approximately 30 metres depth below the ground surface, as illustrated in images 3, 4 and 5*.
Executive Director Barry Cahill commented "We are very pleased to have completed the initial Reverse Circulation drilling programme at the Eelya South prospect over a strike length of approximately 500 meters and consistently intersecting the structure at a very shallow depth."
The initial phases of RC drilling at the Eelya South prospect include an additional 220 metre drillhole, 19HORC013, that will be utilised for a downhole geophysical survey to test for potential mineralisation extensions.
The Eelya South RC drilling programme is being conducted in multiple phases (refer to CYM ASX Announcement dated 26 November 2019), to allow for the mineralisation results from the assays to be included in the planning for the subsequent drilling programmes. The assay results from Eelya South phases 1 and 2 are expected at the beginning of January 2020 and we look forward to updating the market at that time.
A 900 metre RC drill programme at the Rapier prospect has been commenced and we will update the market with assay results from this RC drilling programme as they become available.
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