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cyprium mining corp (DFCPF) Snapshot

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52 Week High
02/14/14 - $0.21
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Market Cap
6.0M
Average Volume 10 Days
300.0
EPS TTM
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Shares Outstanding
33.3M
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cyprium mining corp (DFCPF) Details

Cyprium Mining Corporation, an exploration stage company, is engaged in the acquisition, exploration, and development of mineral resource properties in Northern Mexico. It principally holds interests in the Las Cristinas copper/silver project located in Chihuahua State. The company was formerly known as Freyja Resources Inc. and changed its name to Cyprium Mining Corporation in June 2014. Cyprium Mining Corporation was incorporated in 2005 and is based in Montréal, Canada.

Founded in 2005

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cyprium mining corp (DFCPF) Key Developments

Cyprium Mining Corporation Completes Phase 1 of Drilling at Las Cristinas, Mexico

Cyprium Mining Corporation announced that it has completed its first phase of drilling on its Las Cristinas property located in Chihuahua State, Mexico. This phase of the company's exploration program included a total of 1,204 meters of diamond drilling and focused on the North Mount and South Mount, a 550 meter long mineralized section located at the southern end of the property where copper production took place in the early 70s. A total of twelve holes were drilled to a maximum vertical depth of 150 meters. The main objective of phase one was to test potential sulphide copper/silver mineralization at depth. The drilling program also forms part of the Company's plan to produce an initial NI 43-101 compliant resource report by the end of 2014. Cores from the twelve holes have been split and were delivered, in secure tagged bags, directly to the analytical facility for analysis, namely the laboratory of ALS Chemex de Mexico, located in Chihuahua City, Mexico. The samples were weighed, identified and photographed prior to sample preparation. All samples will be analyzed by ME-MS41 for 51 elements, Ag-OG62 when Ag is greater than 100g/t, Cu-OG62 when copper is greater than 1% and Cu-AA07n to obtain the oxide portion of copper if necessary. The company expects to receive the assay results by mid-August.

Cyprium Mining Corporation Announces Closing of Financing

Cyprium Mining Corporation announced that it has completed its previously announced private placement of 250 units at a price of $1,000 per Unit for gross proceeds of $250,000. Each Unit is comprised of $1,000 principal amount of secured, non-convertible debentures, which will mature twenty-four months from the date of issuance and 1,500 common shares in the capital of the Corporation. The Debentures will bear interest at a rate of 12% per annum paid monthly in cash and will be secured by certain assets of the Corporation. Cyprium did not pay any finder's fees in connection with the Offering. The net proceeds made available through the sale of the Units will be used by the Corporation to pay for the costs of the Offering, development of the Corporation's Las Cristinas mining project in Mexico and for working capital and general corporate purposes. The Offering is subject to the final approval of the TSX Venture Exchange. Pursuant to applicable securities laws, all securities issued pursuant to the Offering will be subject to a statutory hold period of four months following the closing of the Offering.

Cyprium Mining Corporation Starts Drilling at Las Cristinas, Mexico

Cyprium Mining Corporation announced that it has commenced drilling on its Las Cristinas property located in Chihuahua State, Mexico. The drilling program which will be carried out in three phases totaling approximately 4,000 meters of drilling will focus on the North Mount and South Mount, a 550 meter long mineralized section located at the southern end of the property where copper production took place in the early 70s. The drilling program was designed following the analysis of assay results from the sampling program that was announced by the Company on February 13, 2014. These sampling results delivered up to 17.95% copper and 429 g/t silver. The results also included 64 samples from the South Mount that averaged 1.697% copper and 10 g/t silver. From those 64 samples, the 41 samples that were taken within the estimated 30 meter of true width of the mineralized section averaged 2.454% copper and 11 g/t silver. Results from the sampling program also included a number of higher grade assays from the mineralized surface and underground workings, including a six meter section on surface of the South Mount with 5.089% copper and 20 g/t silver and a contiguous underground channel sample of nine meters in the North Mount that averaged 2.938% copper and 105 g/t silver. Phase 1 of the drilling program currently underway has as its main objective to test potentially higher grade sulphide copper/silver mineralization at depth of up to 150 meters. A total of 1,080 meters is planned as part of Phase 1. Phase 2 and 3 which will total 2,940 meters of drilling will serve to better define the mineralized structure of the North Mount and South Mount as well as delineating the initial open pit production oxide copper area within the South Mount. The drilling program also forms part of the Company's plan to produce an initial NI 43-101 compliant resource report by the end of 2014. Cores will be split and analyzed for Cu, CuO, Ag and Au among other elements.

 

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