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

Perth, Australia - Cyprium Metals Ltd. (ASX:CYM) is pleased to advise it has completed the geophysical programmes at 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 data to identify potential depth and strike extensions of existing Resources at the Murchison Copper-Gold projects

- Geophysical programs will help prioritise the multiple areas of known mineralisation for drill testing during 2021

- Geophysical surveys completed at Murchison Copper-Gold Projects

- Aeromagnetic survey completed at Nanadie Well

- Gravity survey completed at Eelya South

- Ground Resistivity (IP) surveys to be completed in January 2021 at Hollandaire, Eelya South and Mt Eelya

Geophysical programmes were undertaken to assist in the definition of further copper mineralisation at Cyprium's Murchison Copper-Gold 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 completed the majority of our planned geophysical programmes by the end of 2020.

Cyprium now expectantly awaits the processing of the geophysical data to facilitate extending the mineralisation inventory at our Murchison Copper-Gold projects.

The aero magnetic data obtained for Nanadie Well will assisting in the identification of drill ready targets around the existing resource at this exciting project.

The results from the geophysical and diamond drilling programme provides valuable information from which to refine drilling targets to be conducted during 2021.

We are also looking forward to conducting downhole geophysics to assist in locating the high grade zones of the Nanadie Well mineralisation and to refine drilling targets, once the phase 1 diamond drilling programme has been completed."

Nanadie Well Copper-Gold Project

Airborne magnetics have been flown at Nanadie Well during the last quarter of 2020. The areas surveyed historically were wide spaced and have coarse lithology and structure resolution.

The interpretation of the data from this aeromagnetic survey will assist in identifying drill targets to be undertaken during 2021, following the phase 1 diamond drill programme that will completed by the end of January 2021.

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.

The completed Eelya South gravity survey will extend the 2019 gravity survey conducted over identified bedrock anomalies, adjacent to the Hollandaire West deposit and the Rapier prospect.

The survey was designed to outline bedrock responses that are associated with mineralising events. Cyprium is awaiting the processing of the data and anomalies identified from the survey, which will be drill tested during 2021.

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 away 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 copper zinc mineralisation that are not detectable by other geophysical techniques, such as electromagnetic ("EM") methods.

The 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 previously detected in a 2019 survey west of Hollandaire. The survey will be completed in early 2021, with the conductors at depth from the survey to be drill tested following the processing of the data that is generated.

Eelya South has encountered significant mineralisation, including several high-grade copper intersections (such as 3.0m @ 3.8% Cu, 6.7 g/t Au & 81.0 g/t Ag in 20ESRC014 from 59m, refer to CYM ASX announcement on 25 March 2020) 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 200 metres. The survey will be conducted in early 2021 with promising conductors being drill tested later in the year.

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. Several small EM conductor plates have also returned sulphide intersections in the Mt Eelya area. The IP techniques that have been carried out during the last quarter of 2020 are intended to identify conductors and chargeable bodies associated with iron poor copper/zinc mineralisation that are not detectable through the use of EM techniques.

*To view tables and figures, please visit:
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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