Samso News: Cyprium Metals — Significant Targets Defined Across the Paterson Exploration Project - Potential Upside for an Aspiring Copper Producer.
- Noel Ong
- 2 days ago
- 6 min read
Announcement
Paterson Exploration Review Update – 20 January 2026 (view the announcement)
We have just recently covered the capital raise and the value proposition of Cyprium to potential shareholders, and I have help back this review because I think the exploration part of the company story is not really a factor in the overall part of the Cyprium story. The make-or-break for Cyprium will be if they are able to convince the market that they are able to make the extraction and production an economically viable proposition. The immediate concerns for management after the raise will be to get the technicals on track and make the operation profitable. I don't know if the recent raise of AUD $41M is sufficient, but time will tell us that outcome.
The exploration upside is secondary to the main show; however, I think once the operations show that it is spinning our millions of profits, the exploration upside will become significant.
Cyprium Metals – Reading the Signals at Rainbow Copper Prospects (Paterson Province, Western Australia)
Cyprium Metals Limited (ASX: CYM) has provided an update on its Paterson Exploration Project in Western Australia, following the completion of a first-pass review of exploration data returned after regaining full control of the tenement package. The review focuses on the Rainbow and Rainbow South areas, located north of the Nifty Copper Complex, where historic drilling, geophysics, and surface data are being used to refine copper targets and guide upcoming exploration programs (Figure 1).
Figure 1: Cyprium Paterson tenement holding and deposits, prospects, and targets (source: CYM)
The Business of the Company: Copper Development and Exploration in Western Australia
Cyprium Metals is an ASX-listed Australian copper company with a focus on redevelopment, near-term production, and exploration growth.
The Company’s core asset is the Nifty Copper Complex in the Paterson Province of Western Australia, supported by existing infrastructure, permits, and a long operating history.
Alongside Nifty, Cyprium controls a large exploration portfolio in the Paterson and Murchison Provinces, targeting sediment-hosted and intrusion-related copper systems.
The Paterson Exploration Project provides longer-term growth optionality, with exploration designed to potentially leverage processing infrastructure at Nifty if economic deposits are defined.
Highlights – Paterson Exploration Project Data Review Unlocks Multiple Drill-Ready Targets
First-pass review of exploration data from IGO is complete, following Cyprium regaining 100% control of ~2,000km² of Paterson tenements.
Review confirms multiple copper targets across both Lamil Group and Broadhurst Formation host rocks, including NL04b, NL05a, NL01a, Rainbow South (NB02a), and MB01.
Strong potential identified to extend known copper mineralisation at the Rainbow and Rainbow South prospects, supported by historic drill intercepts including:
54m at 0.28% Cu from surface (Rainbow, 1996)
Multiple short, higher-grade copper-silver intercepts from 2018 RC drilling at both Rainbow and Rainbow South (Figure 2).
Figure 2: Copper in Surface Samples and Early Interpretations of Rainbow by MLX (source: CYM)
Silver appears as a consistent by-product at Rainbow, with historic assays up to 93g/t Ag over 1m, and recent re-assays confirming silver presence.
Additional copper intersections at Stirling, NL04b, and MB01 highlight under-tested targets requiring follow-up drilling.
A strong late-time airborne EM anomaly at NL05a, more than 5km from any historic drilling, has been pegged for drill testing in the upcoming dry season.
The combined drilling, geophysics, and surface mapping indicate that the Rainbow Prospect sits within an anticlinal structure where the crest has been eroded. Plan views and drill sections show copper lag anomalies aligned with this structure, with historic drilling and MLX interpretations outlining stacked copper mineralisation along the fold architecture (Figures 3 – 6 below).
Figures 3: Conceptual Regional Cross Section from MLX 2018 (source: CYM)
Figures 4: Rainbow Lag Copper Anomaly and Historic Drillholes (source: CYM)
Figures 5: Interpreted Rainbow Drill Section A-A’ (source: CYM)
Figures 6: Interpreted Rainbow Drill Section B-B’ (source: CYM)
Leadership Commentary
Cyprium Executive Chairman Matt Fifield commented:
“Cyprium recently regained control of ~2,000km2 of exploration ground that previously was subject to a Joint Venture and Farm-In Agreement with IGO. Our exploration ground lies adjacent to the Nifty Copper Complex and Maroochydore Copper-Cobalt Project along the western margin of the Yeneena Basin in the Paterson province, an area that is highly prospective for base metals and possibly more.
These re-acquired tenements are accompanied by significant exploration data from legacy exploration programs, including $24 million of exploration expenditure undertaken by IGO. The compiled exploration data package of which we have now completed our first pass review, comprises over 900,000 meters of drilling, tens of thousands of geochemical sampling points, and regional and local electromagnetic and gravity surveys, providing Cyprium with millions of data points.
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.”
Near-term Milestones to Watch
Detailed evaluation and ranking of Rainbow and Rainbow South drill targets.
Design and execution of geophysical surveys over priority areas.
Drill planning and execution at Rainbow and selected regional targets.
Dry-season drilling of the NL05a EM anomaly.
Fieldwork commencement across other priority targets, including Stirling, NL04,b, and MB01 in 1H 2026.
Samso Concluding Comments
As I have already mentioned, this announcement does not change Cyprium’s broader strategy, but it does add clarity to its exploration optionality. The Paterson Project now sits on a large, consolidated dataset generated over several decades and accelerated by the IGO’s recent work.
The Rainbow and Rainbow South prospects show repeated copper intersections across different drilling campaigns. That consistency is what justifies further drilling rather than broad regional speculation.
Other targets, such as NL04b and MB01, remain early-stage but technically interesting. The presence of copper intercepts and untested EM conductors provides clear next steps rather than open-ended exploration.
Overall, this is a significant move for CYM to understand the potential of its other prospects. It shows Cyprium moving from data compilation to drill planning, which is the point where exploration stories either advance or fade.
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