Cyprium Metals (ASX: CYM) has released a 28.4% increase to the Mineral Resource Estimate for its Nifty copper deposit following the completion of a recent drill program at the prospect’s West Pit.
The update provides a 208,000 tonne increase to contained copper metal to 940,200 tonnes, with the total oxide resource now sitting at 16.1Mt @ 0.9% Cu for 144,300 tonnes, providing additional near-surface copper inventory for Nifty.
Commenting on the MRE upgrade, Cyprium Managing Director Barry Cahill said: “There is a significant increase in the contained copper metal tonnes in the latest Mineral Resource Estimate for Nifty. Once again, this demonstrated the quality and scale of the Nifty deposit, which remains open.
“There is a significant increase in the contained copper metal tonnes in the latest Mineral Resource Estimate for Nifty”
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 company also notes that recent drilling has succeeded in confirming that copper mineralisation remains open to the southeast and west of the deposit.
Location of drill holes at the Nifty West PitThe 100%-owned Nifty Copper Mine is located on the western edge of the Great Sandy Desert, within Western Australia’s the Pilbara region.
Nifty is the 6th-largest development project in Australia ranked by contained copper, contains the highest grades, and is the only project being developed in the near term.
Cyprium reports that the west and east Nifty drilling programs are now complete, with assays from the east portion expected later this month.
Images: Cyprium Metals Limited
