Cyprium Metals Ltd (ASX:CYM) 232m Sulphide Ore Grade Copper Intercept at Nanadie Well

Cyprium Metals Limited (ASX:CYM) is pleased to provide the second diamond hole results from the Phase 1 diamond drilling programme that was conducted at the Nanadie Well Copper-Gold Project in December 2020 and January 2021.

HIGHLIGHTS

- Second diamond drill hole NWD2001 continues extensive shallow sulphide copper gold intersection immediately below oxide copper-gold halo

- NWD2001 located ~320 metres to the north of NWD2004 of 144m @0.7% Cu & 1.5g/t Au from 25.0m

- Broad zone of copper sulphide intersected from 109m to 341m down hole

- NWD2001 copper assay highlights:

232m @ 0.4% Cu & 0.1g/t Au from 109.0m including:
o 9.0m @ 0.4% Cu & 392g/t Ag from 303.0m including:
- 2.0m at 0.1% Cu & 1,470g/t Ag from 306.0m

o 10.0m at 0.7% Cu & 0.1g/t Au from 109.0m including:
- 2.0m at 1.8% Cu & 0.2g/t from 116.0m

o 1.2m at 3.1% Cu & 0.2g/t Au from 131.0m

o 4.9m @ 1.2% Cu & 0.2g/t Au from 138.0m including:
- 1.8m @ 2.9% Cu & 0.4g/t Au from 138.1m
o 0.7m at 4.8% Cu & 0.2g/t Au from 188.7m

o 12.3m @ 0.5% Cu & 0.1g/t Au from 190.1m

o 1.4m @ 1.3% Cu & 0.3g/t Au from 228.0m

o 9.9m @ 0.5% Cu & 0.1g/t Au from 232.2m including:
- 0.7m @ 2.4% Cu & 0.4g/t Au from 234.4m

o 18.0m @ 0.4% & 0.1g/t Au from 256.0m, including:
- 0.8m @ 2.6% Cu & 0.6g/t Au from 265.1m

o 6.0m @ 1.2% Cu & 0.2g/t Au from 276.0m including:
- 2.6m at 2.0% Cu & 0.5g/t Au from 277.0m

Extensive near-surface oxide and sulphide mineralisation has been identified during this drilling programme, which is open along strike to the north and south and across strike to the west. The mineralisation does not outcrop and is covered by 1 to 25 metres of transported material. Preliminary investigations of the Nanadie Well deposit data indicates potential for oxide and sulphide mineralisation over the currently identified strike of 750 metres.

The Company's 1,328 metre Nanadie Well diamond drilling programme was completed in January 2021 and was primarily designed to test the sulphide mineralisation below 50m depth at the deposit. There is an extensive shallow sulphide copper-gold intersection continuing immediately below the oxide material derived from the layered mafic intrusive unit that has been outlined in the previous Reverse Circulation ("RC") drilling announcements and quarterly reports (refer to Quarterly Activities Report - 31 Dec 2020 and Quarterly Activities Report - 31 March 2021).

Drillhole NWD2001 also includes a crackle breccia zone with high grade silver sulphide mineralisation which had not been previously encountered at the project and requires further analysis.

The results from this drilling, the Phase 1 RC January 2021 campaign and subsequent drill programmes will be used in the preparation of a JORC 2012 compliant mineral resource estimate for Nanadie Well during 2021 for inclusion in the Murchison Copper-Gold scoping study.

The assay results for NWD2001 are presented in Tables 1 to 5*.

Executive Director Barry Cahill commented:

"We are pleased to announce the second set of assay results from the Phase 1 Nanadie Well diamond drilling campaign that had all diamond drill holes intersecting visible copper mineralisation.

Diamond drill hole NWD2001 was commenced from outside of the supergene mineralised corridor and angled west at 60 degrees towards the sulphide zone. The resulting assays returned a consistent 232 metre copper mineralised intersection from 109 metres downhole.

The drillhole also intersected a crackle breccia zone with high grade silver sulphide mineralisation from 303 metres downhole, which requires further work to define the mineralisation style.

Downhole geophysics was conducted from the diamond drill hole to assist in the planning of the Phase 2 drilling campaigns.

These are another set of fantastic drill results for this extensive deposit, which is very shallow, broad, consistently mineralised and is open in multiple directions."

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/7H35JW50

Cyprium Metals Ltd
T: +61 8 6169 3050
WWW: www.cypriummetals.com