The Company has projects in the Murchison and Paterson regions of Western Australia, that is host to a number of base metals deposits with copper and gold mineralisation.
Paterson Copper Projects
This portfolio of copper projects comprises the Nifty Copper Mine, Maroochydore Copper Project and Paterson Exploration Project.
The Nifty Copper Mine (“Nifty”) is located on the western edge of the Great Sandy Desert in the north-eastern Pilbara region of Western Australia, approximately 350km southeast of Port Hedland. Nifty has a mineral resource estimate of 1,038,000 tonnes of copper and a mineral invetory of 91,000 tonnes of copper in existing leach pads. Cyprium is focused on redeveloping Nifty which has the advantage of significant invested capital, data from a long operating history, large-scale resources, current operational approvals and recent investment in the property.
The Maroochydore deposit is located ~85km southeast of Nifty and includes a 2012 JORC Mineral Resources of 486,000 tonnes of contained copper in predominantly near-surface oxide material.
An exploration earn-in joint venture has been entered into with IGO on ~2,400km2 of the Paterson Exploration Project. Under the agreement, IGO is to sole fund A$32 million of exploration activities over 6.5 years to earn a 70% interest in the Paterson Exploration Project, including a minimum expenditure of A$11 million over the first 3.5 years which was achieved in 2023. Upon earning a 70% interest, the Joint Venture will form and IGO will free-carry Paterson Exploration Project to the completion of a Pre-feasibility Study (PFS) on a new mineral discovery.
Cyprium has an 80% attributable interest in a joint venture with Ramelius Resources Limited (ASX: RMS) at the Cue Copper-Gold Project, which is located ~20km to the east of Cue in Western Australia. Cyprium will free-carry the Cue Copper Project to the completion of a definitive feasibility Study (DFS). The Cue Copper-Gold Project includes the Hollandaire Copper-Gold 2012 JORC compliant Mineral Resources of 51,500 tonnes contained copper, which is open at depth. Further potential of the Cue Project was demonstrated by the 15m @3.26% Cu, 0.70 g/t Au and 7.4 g/t Ag intercept in previously untested layered mafic/ultramafic sequence, refer to 20 February 2024 CYM announcement “Shallow High-grade copper discovery at Heeler prospect on Cue JV”.
The 100% CYM Nanadie Well Project is located 650km north east of Perth and 75km south east of Meekatharra in the Murchison District of Western Australia, within mining lease M51/887. The project consists of the Nanadie Well Cu/Au deposit which has a JORC 2012 compliant inferred resource of 162 kt Cu and 130 koz Au and the Stark Cu/Ni PGE prospect.
The company intends to conduct further exploration and development activities on the Nanadie Well and Cue Copper-Gold projects.
