Cyprium Metals (ASX:CYM) - Managing Director, Barry Cahill
Managing Director, Barry Cahill
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  • Cyprium Metals (CYM) receives the first phase of assays from the 2021 reverse circulation drilling program at the Maroochydore Copper – Cobalt Project in WA
  • A total of 50 holes were drilled and results have so far been received for 19 that targeted oxide, supergene and transitional mineralisation
  • Several holes extended into fresh basement rock, with grades peaking at 2.95 per cent copper and 775 parts per million cobalt
  • Once all the assays have been received, Cyprium will include them in a revised mineral resource estimate
  • Cyprium is steady on the market with shares trading at 14.5 cents

Cyprium Metals (CYM) has received the first phase of assays from the 2021 reverse circulation (RC) drilling program at the Maroochydore Copper – Cobalt Project.

The Maroochydore Project lies in the north-eastern Pilbara region of Western Australia, roughly 85 kilometres southeast of the Nifty Copper Mine.

A total of 50 holes were drilled, consisting of 46 resource definition and extension holes, for 5990 metres, and four water bores, for 6218 metres.

Results have so far been received for 19 holes that targeted oxide, supergene and transitional mineralisation.

Several holes extended into fresh basement rock with sulphide mineralisation intersected from 108 metres.

Better results include 11 metres at 2.27 per cent copper and 429 parts per million (ppm) cobalt from 65 metres concluding eight metres at 2.95 per cent copper-silver and 555 ppm cobalt from 65 metres.

The near-surface oxide copper-cobalt mineralisation has been extended to a length of three kilometres, a width of up to 500 metres and a depth of up to 100 metres.

Additionally, the sulphide copper-cobalt mineralisation spans a length of 2.5 kilometres, a width of up to 500 metres and a depth of up to 50 metres and remains open.

Once all the assays have been received, Cyprium will include them in a revised mineral resource estimate.

“Maroochydore is a very exciting project and we are pleased to announce the results of our first round of RC drilling,” Managing Director Barry Cahill commented.

“These results reinforce the quality of this large copper-cobalt deposit. In addition, this drilling has increased the oxide-supergene resource potential further to the east.”

Cyprium was steady on the market, with shares trading at 14.5 cents at 12:38 pm AEDT.

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