Cyprium Metals (ASX:CYM) provides update on Nifty new surface mine

Cyprium Metals Limited (ASX:CYM) has issued an updated announcement regarding the re-optimisation of the Nifty new surface mine at the Nifty copper complex. The company's technical partner, MEC Mining, completed an updated geotechnical study to advance Cyprium's knowledge of the expected mining conditions to a Pre-Feasibility level of confidence. The re-optimisation has resulted in a 25% reduction in strip ratio to 7.3:1 from the previous estimate of 9.7:1 in the May 2024 Scoping Study, based on lower waste movements and the potential for additional sulphide and transitional material to be concentrator feed. The new pit shell preserves SXEW infrastructure over the expected life of heap leach operations. Cyprium's updated Nifty new surface mine reserve is expected in October 2024 with the Pre-Feasibility Study to follow.

Executive commentary on mine optimisation

The updated mine optimisation is a material development for Cyprium and is a result of following a thoughtful mine development sequence from end-to-end. A number of expected positive outcomes include reduced footprint, and importantly the ability to continue to generate revenue from the cathode plant throughout the life of the surface mine. We are incorporating these wins into our restart planning and Pre-Feasibility Study work now.

Summary of the announcement and outlook

Cyprium Metals Limited's update on the Nifty new surface mine re-optimisation has resulted in a significant reduction in strip ratio and the preservation of the cathode plant's life. The company is considering the implications of being able to preserve the Cathode Plant infrastructure for significantly longer than previously anticipated. The upcoming Pre-Feasibility Study will also assess the potential of additional cathode production from the delivery of oxide from the new surface mine in conjunction with planned retreatment of material on existing heap leach pads. Cyprium looks forward to demonstrating the potential benefits of a lower strip ratio and full utilization of the cathode plant in their upcoming studies. The company is pleased about sharing these positive announcements and continues to improve the potential and speed to market through diligent restart planning.