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Cyprium Mining Corp
Symbol CUG
Shares Issued 62,312,802
Close 2016-06-09 C$ 0.065
Market Cap C$ 4,050,332
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Cyprium Mining samples up to 578 g/t Ag at Potosi

2016-06-09 08:41 ET - News Release

Mr. Alain Lambert reports

CYPRIUM MINING ANNOUNCES ASSAY RESULTS FROM THE POTOSI SILVER MINE

Cyprium Mining Corp. has released the results from 35 underground samples taken as part of its continuing exploration program of the Tunel body of the Potosi silver mine located in Santa Eulalia, Mexico. The term Tunel body refers to the area accessed by the Potosi No. 3 shaft on levels one to four of the Potosi mine.

The results announced today were all taken in an old stope located at level four of the mine and are in addition to results from seven samples announced in August, 2015. Those seven samples from level four yielded average values of 578 grams per tonne silver, 4.99 per cent lead and 2.8 per cent zinc over an average sample width of 1.65 metres, and two samples from level three yielded averages of 100 g/t Ag, 2.79 per cent Pb and 8.43 per cent Zn over 1.45 metres. The results from the new 35 samples, combined with the seven samples taken in 2015, are all described on the map found on the company's website.

Alain Lambert, chairman and chief executive officer of Cyprium, stated: "The level four stope of the Tunel body of the Potosi silver mine forms part of our initial focus for mine development and extraction of mineralized material through shaft No. 3. Consistent with our business plan to put emphasis on short-term cash generation to fund the systematic development of the mine, our mining activities will start with the richer south zone A and north zone." Mr. Lambert concluded: "We are currently finalizing the evaluation work in order to add further areas of mine development and extraction activities within the Tunel body's levels two to four. Our goal is to start extracting mineralized material from at least three different areas when drilling and blasting starts."

The Santa Eulalia district

Santa Eulalia is a world-class polymetallic mining district located in the central part of the state of Chihuahua, Mexico, approximately 22 kilometres east of the city of Chihuahua. Mineralization in the area was originally discovered during the Spanish colonial period in the 1500s, and recorded production has occurred over more than 300 years. Santa Eulalia ranks as one of Mexico's primary silver- and base-metal-producing districts with nearly 450 million ounces of silver and substantial amounts of lead and zinc mined. The nature of the deposit in the Santa Eulalia district is a carbonate replacement deposit and is the historically largest of its type in Mexico. Mineralization occurs in an area about 10 kilometres in length and five km in width. Production and reserves for the district have been estimated to be about 50 million tonnes (1) with grades of 125 to 350 g/t Ag, 2 to 8 per cent Pb and 3 to 12 per cent Zn (1) (2), along with appreciable quantities of tin and vanadium.

The Santa Eulalia district covers approximately 48 square kilometres and is divided into three areas, the west camp, the central camp and the east camp. The Potosi silver mine is located in the west camp. The west camp has produced most of the minerals from the district from an area four km long in a north-south direction and two km wide in an east-west direction, with the Potosi silver mine being one of the primary producers.

Geological setting, deposit type and mineralization

Mineralization in the Santa Eulalia district is characterized by massive sulphides, dominantly pyrrhotite, sphalerite, galena and pyrite that are hosted mainly in horizontal mantos and steep chimneys of sulphide material that replace limestone, with some breccia bodies also occurring. Mineralized bodies occur along laterally continuous discrete structural zones that mainly trend in a north-south orientation, with mineralization forming preferentially in certain stratigraphic units. Past mining has reached to as much as 700 metres depth below the surface on 21 levels. Production in the west camp was diminished until the late 1980s with the discovery of new mineralization. Currently there is little production in the district.

National Instrument 43-101 report

Cyprium has engaged Dr. Craig Gibson to complete a National Instrument 43-101 report with respect to the initial mine levels two, three and four of the Potosi silver mine. It is expected the report will be completed before the end of June, 2016. The report to be prepared by Dr. Gibson shall not contain a resource or reserve calculation.

Quality assurance and control

Cyprium maintains a quality control program. Samples are placed in labelled bags with a sample tag and are delivered directly to the laboratory, ALS Chemex de Mexico, located in Chihuahua City. Control samples consisting of standards and blanks are added to the sample stream prior to delivery. All samples were analyzed in Vancouver for the reported metals by the Me-OG62 method for higher-grade samples. Silver assays were checked by fire assay with a gravimetric finish. ALS Chemex is part of ALS Global, an internationally recognized analytical laboratory.

Qualified person

Dr. Gibson, certified professional geologist, prepared the summary of public historical information on the Santa Eulalia district, and has reviewed the appropriate portions of this news release and approved the contents thereof. Public information included in this release are based on work by from a PhD dissertation by Peter K.M. Megaw and information from the Mexican Geological Survey (Servicio Geologico Mexicano).

References

(1) Megaw, P.K.M., 1990, Geology and geochemistry of the Santa Eulalia mining district, Chihuahua, Mexico, unpublished PhD dissertation, University of Arizona, 461 pp.

(2) Bustos-Diaz, J.L. and Arzabala-Molina, J., 2007, Monografia Geologico-Minera del Estado de Chihuahua, Servicio Geologico Mexicano, 640 pp.

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