Cyprium Metals Ltd: Further Outstanding Copper Leaching Results

Perth, Australia - Cyprium Metals Ltd. (ASX:CYM) is pleased to advise that metallurgical column test-work has progressed on the samples of the massive and semi-massive sulphides from the Hollandaire and Hollandaire West prospects. This test-work has been undertaken to determine the viability of our unique method, and optimal copper extraction method, which has leached copper rapidly into solution (refer to Image 1, CYM ASX Announcements 14 October 2019, 27 November 2019 and 17th February 2020).

Executive Director Barry Cahill commented "We are pleased to continue to announce such positive results from our metallurgical test-work programmes. The Hollandaire West material has performed better than the previous two test-work columns that we conducted on material from the Hollandaire prospect.

The metallurgical results, in conjunction with recent extensional drilling success, is a step change that gives the Company even greater confidence in the projects quality and development potential. All these positive developments are being included in the Scoping Study that was recently commenced."

Metallurgical Drill Holes

The metallurgical diamond drill programme (refer to CYM ASX announcement dated 14 October 2019) consisted of three holes for 320 metres into the mineralised envelope of the Hollandaire Prospect at the Cue Copper Project to provide representative samples for test-work to be undertaken as illustrated in Figure 1*.

The first hole in the metallurgical diamond drilling programme, 19HOMET001, was drilled into the Hollandaire West deposit and returned disseminated copper sulphide mineralisation. The second and third diamond drill holes in the programme, 19HOMET002 and 19HOMET003, targeted representative sections of the Hollandaire deposit and returned semi-massive to massive sulphide mineralisation. The results from the metallurgical diamond drill holes included:

- 10.4m @ 14.9% Cu in drill hole 19HOMET003 from 84.5m downhole including:

o 4.5m @ 21.9% Cu from 90.4m;

- 19.1m @ 1.3% Cu in drill hole 19HOMET002 from 85.9m downhole including:

o 6.4m @ 2.1% Cu from 98.6m;

- 27.9m @ 1.1% Cu in drill hole 19HOMET001 from 45.7m downhole including:

o 9.0m @ 1.6% Cu from 63.2m.

Hollandaire Metallurgical Test-Work Results

At the completion of drilling, core samples from the Cue Copper Project were received at the metallurgical laboratory in September 2019. The drill core was crushed, split and assayed for multi-element grades. Composites were then created for the Hollandaire deposit and the Hollandaire West deposit.

Hollandaire samples were composited from holes 19HOMET002 and 19HOMET003 to create two column samples, Columns A and B, with copper grades of 5.10% and 5.24% respectively.

Separately, the drill core from Hollandaire West, obtained from drill hole 19HOMET001, was composited for testing in a third column, Column C, with an average grade of just 0.76% copper.

Diagnostic testing and mineralogical analysis were undertaken on the samples to determine the optimal parameters to use to undertake the column test-work.

The composites were then leached in separate columns with the resultant copper recovery over time under leach presented in Graph 1* below.

The leaching of these columns is continuing, with final results to be reported once this test-work has been completed.

The results to date demonstrate an accelerated leach time to extract the copper metal into solution. The test-work on Column C, in particular, has demonstrated a more rapid leach than Columns A and B, which is remarkable result that has been achieved after only 6 days.

The metallurgical test-work programme is continuing on these three columns together with other test-work that is being conducted on the remaining material from the metallurgical drill holes completed in 2019.

The plating of copper form the leached solution is underway and we look forward to updating the market on its progress in the coming weeks.

Implications for the Project

The initial Hollandaire metallurgical test results have produced exceptionally rapid leach times.

The effect of the very short leach times on a potential project is significant as it decreases the size of the heap leach pads, and consequently reduces the capital and operating cost requirements over the life of the operation.

Combined with the successful extensional resource drilling at Hollandaire (refer to CYM ASX Announcement 20 January 2020), the critical mass of the copper resource required for project development is close to being achieved, consequently a scoping study on the Cue Copper Project was commenced.

Earn-in and Joint Venture

Pursuant to an agreement between a wholly owned subsidiary of CYM and Musgrave Minerals Ltd. (ASX:MGV), an option has been granted by Musgrave Minerals Ltd. 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:
https://abnnewswire.net/lnk/8HQNKRZ8

About Cyprium Metals Ltd:

Cyprium Metals Ltd. (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.

Source: Cyprium Metals Ltd.



Contact:

Cyprium Metals Ltd.
T: +61 8 6169 3050
www.cypriummetals.com