Cyprium uncovers high-priority copper targets across Paterson Exploration Project

Proactive

Written by Lisa Uhlman

Cyprium Metals Ltd (ASX:CYM, OTCQB:CYPMF) has outlined a suite of high-priority copper targets across its Paterson Exploration Project in Western Australia after completing a first-pass review of a substantial exploration data package inherited following the exit of former joint venture partner IGO.

The review marks an important reset for Cyprium Metals, which regained full control of around 2,000 square kilometres of prospective ground in the Paterson province after the dissolution of its farm-in and joint venture agreement with IGO in 2025.

Under that agreement, IGO spent roughly $24 million on regional and local exploration between 2020 and 2025, generating a large body of geological, geochemical and geophysical data that Cyprium has now begun to interrogate in detail.

Targets emerge from first-pass review

Cyprium’s initial assessment has highlighted multiple copper targets with encouraging historic and recent intercepts, spanning both the Broadhurst Formation — which hosts the Nifty and Maroochydore deposits — and the Lamil Group rocks further north, known regionally for large-scale copper systems.

Key prospects identified include NL04b, NL05a and NL01a north of Nifty, as well as NB02a (Rainbow South) and MB01 east of Maroochydore. Several of these targets were drilled by IGO as recently as late 2024, with results that Cyprium believes warrant further follow-up.

At the Rainbow and Rainbow South prospects, the company sees particular potential to extend known copper mineralisation. Historic drilling has delivered a number of solid copper-silver intersections, including 10 metres at 0.86% copper and 9 g/t silver, and narrower high-grade zones exceeding 1.8% copper.

Cyprium said a drill program is now being designed to confirm and extend mineralisation at Rainbow, with a view to identifying material that could ultimately complement redevelopment plans at the nearby Nifty Copper Complex.

Silver upside adds further interest

The Rainbow prospect also offers potential silver by-product upside, with historic assays reporting silver grades of up to 93 g/t over 1 metre. As part of its review, Cyprium recently resubmitted selected 2018 drill pulps for re-assay, confirming the presence of silver alongside copper.

While silver results showed some variability — attributed to low concentrations and analytical techniques — copper values were consistent with original assays. Cyprium said it is working with laboratories to optimise methods for future drilling and sampling programs.

Encouraging intercepts at Stirling, NL04b and MB01

Beyond Rainbow, Cyprium has identified several other prospects requiring more detailed evaluation.

At Stirling, historic drilling has returned copper grades of up to 3.85% over 1 metre, yet the area has not been drilled since 2011. The company believes further work is needed to better understand structural controls and whether previous holes adequately tested the system at depth.

At NL04b, diamond drilling completed by IGO in late 2024 intersected magnetite skarn and chalcopyrite veining, returning 0.7 metres at 3.1% copper from 172.3 metres. A strong off-hole electromagnetic conductor was subsequently identified but has not yet been drill tested.

Meanwhile at MB01, drilling beneath a weak surface copper anomaly intersected more than 150 metres of sulphide-bearing veins, with chalcocite and native copper closer to surface. A best intercept of 2 metres at 1.7% copper from 162 metres has positioned the target as another candidate for follow-up drilling.

Leveraging decades of exploration data

Executive chairman Matt Fifield said the return of the Paterson tenements, coupled with the transfer of IGO’s extensive exploration database, provides Cyprium with a rare opportunity to fast-track target generation.

The compiled data package includes more than 900,000 metres of drilling, tens of thousands of geochemical samples and extensive electromagnetic and gravity surveys, much of it collected during earlier exploration cycles when higher-grade thresholds dominated decision-making.

Cyprium believes reinterpreting this information through a modern lens could uncover economically viable copper systems that were previously overlooked.

“The Paterson Exploration Project provides significant potential to leverage exploration data into meaningful developments for Cyprium, as we continue to build Australia’s next great copper company,” Fitfield said.

Work programs planned for 2026

Looking ahead, the company plans to prioritise detailed evaluations at Rainbow and Rainbow South, including geophysical surveys and drilling, while progressing fieldwork and planning across other prospects such as Stirling, NL04b and MB01.

Drilling is also scheduled for the dry season at NL05a, where a strong airborne electromagnetic anomaly sits more than 5 kilometres from the nearest historic drillhole.

Cyprium said the overarching focus of its Paterson strategy is to identify advanced exploration targets that could potentially leverage existing processing infrastructure at Nifty as the company works toward restarting copper production in the region.

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