Cyprium Metals reports highest-grade intersection to date at Cue copper project

Base metals explorer Cyprium Metals (ASX: CYM) has reported positive results from a drilling campaign at the Hollandaire and Hollandaire West targets within the Cue copper project in WA’s Murchison district.

The campaign involved drilling three holes into the historical mineralised envelope at both targets to provide representative samples for metallurgical testwork.

Results included the highest-grade intersection encountered to date in the massive pyrite and copper sulphide mineralised zone.

The first hole was drilled into Hollandaire West and returned disseminated copper sulphide mineralisation, containing mainly chalcocite.

The second and third holes targeted representative sections of Hollandaire and returned massive pyrite and copper sulphide mineralisation, as predominantly chalcocite with minor chalcopyrite and bornite.

Best assays were 10.4m at 14.9% copper from 84.5m down hole including 4.5m at 21.9% copper with 1.2g/t gold and 46.4g/t silver from 90.4m.

Also recorded was an intercept of 19.1m at 1.3% copper from 85.9m down hole including 6.4m at 2.1% copper with 0.5g/t gold and 10.5g/t silver from 98.6m.

Cue is located in WA’s Murchison region which is host to a number of volcanic massive sulphide (VMS) deposits.

“Stunning results”

Cyprium executive director Barry Cahill said the “stunning results” – all less than 100m vertical depth – prove the quality of the mineralised envelope at Cue.

“We are extremely pleased with the high-grade drill results from our program at Hollandaire,” he said.

“[They] are at least comparable, if not better, than historical intercepts and there are a number of copper mineralised intercepts sitting outside the historical mineralised envelope at both targets.”

Cyprium has been conducting regional soil sampling to refine and prioritise a number of drill targets for inclusion in Phase 2 activities at Hollandaire.

The company said there have been early surface indications at the Rapier West prospect of dominant malachite and minor azurite (copper oxide minerals) being encountered in rock hand specimens during sampling.

Such occurrences of copper oxide have historically been reliable indicators of sub-surface copper mineralisation in the area.

Sampling is scheduled for completion this month.

Earn-in agreement

Following an agreement in March between Cyprium (formerly Arc Exploration) and Musgrave Minerals (ASX: MGV), an option has been granted for Cyprium to earn-in and joint venture for an 80% interest in the non-gold rights over the tenements at the Cue copper project.

At midday, shares in Cyprium were up 18.92% to $0.22.