Cyprium Metals Ltd: Quarterly Activities Report
28.01.2020 | ABN Newswire
Perth, Australia - During the December 2019 quarter, Cyprium Metals Ltd. (ASX:CYM) completed 3,957 metres of Reverse Circulation ("RC") drilling at the Cue Copper Project.RC drilling at the Hollandaire prospect has intersected a significant extensional mineralisation of 18.0m @ 1.97% Cu in drill hole 19HORC029 (*refer to Image 1, Figure 1 and Section 1) from 295m downhole including:
- 12.0m @ 2.74% Cu with 0.61 g/t Au and 6.75 g/t Ag from 295m
- 8.0m @ 3.63% Cu with 0.84 g/t Au and 8.94 g/t Ag from 296m
- 3.0m @ 6.10% Cu with 2.61 g/t Au and 16.25 g/t Ag from 296m
Corporate
- $2.31 million raised via the issue of 11,000,000 shares at 21c per share to institutional and sophisticated investors
Executive Director Barry Cahill commented "We are extremely pleased with the first extension drill results at the Hollandaire prospect. This, combined with the Eelya South surface sample programme which included numerous results with over 10% contained copper and the follow-up drill intersections, highlight the high quality and prospectivity of the Cue Copper Project.
Equally significant is the impressive speed of copper leaching into solution from the beginning of the metallurgical column test-work.
The Company continues to be well capitalised to execute our strategy with approximately $3.6 million in cash and no debt."
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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