Cyprium Metals Limited (ASX: CYM) has unveiled a 208,000t (28.4%) increase in the contained copper metal to 940,200t in the updated MRE for the Nifty copper deposit in Western Australia.
The significant upgrade follows completion of the successful Nifty west pit drilling programme in 2021. Cyprium’s previously disclosed MRE for Nifty was the maiden Nifty MRE under Cyprium’s ownership
“There is a significant increase in the contained copper metal tonnes in the latest Mineral Resource Estimate for Nifty. Once again, this demonstrates the quality and scale of the Nifty deposit, which remains open,” Managing Director, Barry Cahill, said.
“The updated Mineral Resource Estimate provides additional copper metal inventory for the Nifty phase 1 oxide copper project and underpins a potential open pit mine-life of greater than 20 years.
“Further assay results from the Nifty east drilling programme will be announced later this month. The results of this drilling programme, which targeted the shallower oxide zone of the deposit, are expected to further extend the Nifty phase 1 oxide mine-life.”
The current Nifty MRE of 95.1Mt at 1.0% copper for a total contained copper inventory of 940,200t is the result of the completion of the successful Nifty west pit drilling programme and Nifty Copper Project Restart Study. The Nifty west drilling programme consisted of 71 RC holes for a total of 18,867 metres.
The Nifty Copper Project Restart Study is focussed on the development of the first phase of the project that involves a return to heap leaching and solvent extraction electrowinning (SX-EW) to produce copper metal cathode on site.
The significant inventory and increase of heap leachable oxide mineralisation confirmed by this MRE (16.1Mt at 0.9% copper for approximately 144,300t of contained copper metal) presents additional upside opportunity on project economics.
The drilling programmes completed at Nifty West and East were designed primarily to confirm the mineralisation and to improve the confidence, hence classification of inferred resource, plus possible extension of mineralisation.
Nifty is the sixth largest development project in Australia, ranked by contained copper metal, but has the highest grade and is the only project being developed in the near term.
The Nifty Copper Mine is located on the western edge of the Great Sandy Desert in the north-eastern Pilbara region of Western Australia, approximately 350 km southeast of Port Hedland.
For further information please visit: https://cypriummetals.com/
