Cyprium Metals releases maiden resource estimate for Nanadie Well polymetallic deposit
The Nanadie Well resource contains 162,000t copper, 130,000oz gold, 1.36Moz silver, 2,200t cobalt, 11,900t nickel and 6,500t zinc.
Base metals explorer Cyprium Metals (ASX: CYM) has announced a maiden mineral resource estimate for the Nanadie Well deposit within its Murchison copper-gold project in Western Australia.
The orebody is reported to contain an inferred 162,000 tonnes copper, 130,000 ounces gold, 1.36 million ounces silver, 2,200t cobalt, 11,900t nickel and 6,500t zinc.
Mineralisation is believed to be shallow and broad, remaining open at depth and along strike to the north, with significant potential for extension.
The resource utilises assays from holes drilled by previous owners Horizon Minerals (ASX: HRZ) and Mithril Resources (ASX: MTH) as well as the results of infill and extensional drilling programs carried out by Cyprium after it acquired the asset in 2020.
Cyprium said the classification was due to the absence of detailed bulk density data and uncertainty over the exact location of the first 63 reverse circulation holes drilled into the resource by Intermin Resources (which merged with MacPhersons Resources in 2019 to create Horizon) prior to 2013.
The absence is currently being addressed with bulk density work underway on the five available diamond holes drilled by Cyprium.
New drilling
In total, 88 new holes have been drilled into the Nanadie Well deposit by Cyprium since Intermin released the first resource estimate in 2013.
The additional drilling has allowed the deposit to be modelled to a greater depth with the diamond holes and associated petrography adding to the company’s geological understanding.
The more recent infill reverse circulation drilling has locally improved resource confidence in the tenor and continuity of the interpreted mineralisation.
Step in the right direction
Cyprium executive director Barry Cahill said the maiden estimate at Nanadie Well was a step in the right direction.
“This mineral resource highlights the extensive polymetallic potential of the Nanadie Well project highlights the potential to expand this known resource along strike and down dip with further deeper drilling,” he said.
“We now have JORC compliant resources at all of our copper projects.”
Mr Cahill said deeper holes which extend beyond the lower limits of the modelled resource returned intersections with similar widths and grades and highlights the potential to identify additional mineralisation within the layered intrusive body at depth.
The model highlighted trends in the mineralisation with nickel and cobalt grades increasing towards the northern end of the current inferred resource.
He said there was also potential to expand the known resource along strike with further closer spaced drilling.