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 invnetory 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 1,595,000 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.
The company recently announced the sale of the Murchison projects (see ASX Announcement – 5th February 2025).
