Cyprium Metals has delivered the 2024 mineral resource estimate for unrecovered copper on the Nifty Copper Mine’s heap leach pads, the first updated MRE since 2015.
The 2015 MRE was declared after a series of internal studies in 2014 and 2015, accompanied by drilling and sampling campaigns.
The 2024 heap leach MRE defines an indicated and inferred copper resource containing approximately 54,000t of copper that is supported to JORC standards through drilling information.
A review of historic production data indicates substantial potential resource upside from unsampled stockpiled material. However, this unsampled material cannot be supported through drilling information, as all drill holes were halted short of the pads to maintain the integrity of the pad and liner.
The 2024 MRE incorporates new data from a 2021 sonic drill program that was run to support previous feasibility studies. Analysis of samples obtained from the sonic program has supported important metallurgical inputs on the drilled resource.
Cyprium Executive Chair, Matt Fifield, said that restarting the cathode plant is the next step for Cyprium’s new management team and the first phase of Nifty’s redevelopment.
“To move towards operations, we need comprehensive and up-to-date resource information. Our team produced this MRE by going back to first principles, organising and incorporating all prior existing data, and including new analysis from the 2021 sonic drill program.”
Mr Fifield said that looking back on the site’s history, cathode production at Nifty stopped abruptly when the new underground mine began.
“The owner at the time was primarily interested in supplying feed to the concentrate market from the now abandoned underground mine. The result was that the cathode plant was shut before its time, leaving unrecovered copper in the heap leach material. This is Cyprium’s near-term commercial opportunity.”
Featured image: Jose Luis Stephens/shutterstock.com
