Cyprium Metals Ltd: Geophysics Programmes Commencing at Murchison Cu-Au Projects

Perth, Australia - Cyprium Metals Ltd. (ASX:CYM) is pleased to advise the commencement of geophysical programmes in the Murchison Copper-Gold Projects, consisting of the Cue Copper-Gold project and the Nanadie Well Copper-Gold project, as detailed in Figure 1*.

HIGHLIGHTS

- Geophysical surveys being conducted at Murchison Copper-Gold Projects

- Aero magnetic survey commencing at Nanadie Well

- Ground Resistivity (IP) surveys to commence at Hollandaire, Eelya South and Mt Eelya

- Gravity survey to commence at Eelya South

- Diamond drilling phase 1 programme of 1,700 metres being undertaken at Nanadie Well from December 2020

- Reverse Circulation drilling of the supergene mineralisation scheduled at Nanadie Well in January 2021

Geophysical programmes have been undertaken to assist in the definition of further copper mineralisation at Cyprium's Murchison project areas. Promising anomalies will be drill tested in 2021, pending regulatory approvals and drill rig availability.

Executive Director Barry Cahill commented "We are very pleased to have rapidly procured and mobilised the services of the various teams and drilling contractors to commence our programme of works following the recent oversubscribed capital placement and Share Purchase Plan.

Cyprium is about to embark on an exciting stage of its progress, targeting in on extending the mineralisation inventory at Cue through the use of geophysics and drilling out the mineralisation at Nanadie Well, to upgrade to a JORC 2012 complaint mineral resource while expanding the resource base and examining the along strike and depth potential of the system.

The work will provide valuable information to be included in the accelerated programmes, commencing in the new year, to follow up on the results from the geophysical programmes and to analyse the core produced from diamond drilling, whilst commencing the drilling of the Nanadie Well supergene zone."

Cue Copper-Gold Project

Cyprium geological staff and specialist consultants have been analysing data and the results of the drilling undertaken in late 2019 and early 2020, as well as taking into consideration the characteristics of the mineralisation in the Hollandaire resource, to determine the optimal methods to target further mineralisation in the system.

Whilst Cyprium's previous drilling, geological and metallurgical programmes have provided a very good understanding of the mineralogy of the system, the copper sulphide mineral chalcocite does not respond to geophysics as strongly as other minerals, particularly pyrite and chalcopyrite.

The minerals do not identify as clearly as chalcopyrite, bornite or pyrite in RC rock chips as they can be washed from the logging chip tray samples and often occurs as disseminated fine grains through the rock mass at the Cue Copper-Gold project.

The Hollandaire West copper mineralisation is characterised by chalcocite and chalcopyrite which can be amenable to IP geophysical techniques. The survey is intended to detect weak conductors and chargeable bodies associated with iron poor copper zinc mineralisation that are not detected by other techniques such as electromagnetic (EM) methods. This 2.0 x 1.5 km survey includes Hollandaire to test the deposit's IP response and it also covers the gravity high and low anomalies detected in a 2019 survey west of Hollandaire. The conductors at depth from the survey will be drill tested in 2021.

Eelya South has encountered significant mineralisation, including several high-grade copper intersections in the 2019 and 2020 drilling programmes. Gossans have been mapped and assayed at the surface which have also returned several high-grade copper results. EM surveys in the past provide limited information due to strong ground polarising effects in the area however the use of IP is expected to return better information to identify suitable targets to a depth of 200m. The promising conductors from the IP survey will be drill tested in 2021.

EM techniques have been used previously at the Mt Eelya prospect at the Cue Copper-Gold project. The prospect has returned significant drill intercepts of copper, zinc, gold and silver underneath mapped and assayed gossans as detailed in Figure 3*. Several small EM conductor plates have also returned sulphide intersections in the Mt Eelya area. The IP techniques to be used in the November 2020 survey are intended to identify conductors and chargeable bodies associated with iron poor copper/zinc mineralisation that are not able to be detected through the use of EM techniques.

The planned Eelya South gravity survey are intended to extend the 2019 gravity survey conducted over identified bedrock anomalies, adjacent to Hollandaire West and Rapier prospect. The proposed survey is designed to outline bedrock responses that may be related to mineralising events. Anomalies identified from the survey will be drill tested in 2021.

Nanadie Well Copper Gold Project

Airborne magnetics will be flown at Nanadie Well during the remainder of November 2020. The areas surveyed historically were wide spaced and have coarse lithology and structure resolution.

It is expected that interpretation of the data will assist in identifying drill targets which will be designed and scheduled to commence in 2021, following the phase 1 diamond drill programme that will commence in December 2020, as detailed in Figure 4*, and the RC drilling programme that will commence in January 2021.

The diamond drill programme previously reported in ASX Release dated 9th of November 2020 is intended to serve a number of purposes in the definition of the Nanadie Well Copper-Gold mineralisation:

- Provide core for geological logging and mapping in both supergene and sulphide to gain a more comprehensive understanding of the mineralisation;

- Provide material to assay for payable metals in the mineralisation including copper, gold and silver as well as nickel, cobalt and PGE's that are often associated with magmatic deposits;

- Test the geological model of the flat fractionated layers and higher-grade sections of the layers;

- Provide metallurgical samples to commence test work on an optimised extraction method in both supergene and sulphide mineralisation; and

- Provide a platform to conduct downhole geophysics to target orebody high grade zones and potential extensions along strike and below the current mineralisation.

This diamond drilling programme is designed to test the Nanadie Well magmatic mineralisation and to provide data to upgrade the mineral resource estimate to a JORC 2012 standard. The drilling will also test the open mineralisation for depth and strike extensions.
Any further mineralisation identified by these programmes will then be included in the ongoing Murchison Copper-Gold project scoping study.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/ZZF317YM

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: www.cypriummetals.com