The inferred resource is 40.4 million tonnes at 0.4% copper, 0.1 grams per tonne gold, 1gpt silver, 50 parts per million cobalt, 290ppm nickel and 160ppm zinc.

Contained metal stands at 162,000 tonnes of copper, 130,000 ounces of gold, 1.36 million ounces of silver, 2200t of cobalt, 11,900t of nickel and 6500t of zinc.

Mineralisation starts just 1m from surface and remains open at depth and along strike to the north.

Nanadie Well is part of Cyprium's Murchison portfolio, which also contains the Hollandaire resource of 51,500t of copper, an 80:20 joint venture with Musgrave Minerals.

Cyprium executive director Barry Cahill said the Nanadie Well resource highlighted the extensive polymetallic potential of the project.

"The shallow Nanadie Well resource and the Hollandaire resource are complementary deposits which are expected to deliver operational synergies," he said.

Diamond drill core obtained from Nanadie Well last year will be used for metallurgical leach test work as part of a scoping study which will also incorporate the Hollandaire deposit.

Cyprium is also working on a restart of the Nifty copper mine in the Paterson Province.

Shares in the company last traded at 9.2c, giving it a market capitalisation of nearly $65 million.