Cyprium Mining Corporation

Company Data | Introduction | Projects in Hand | Management
News Update
| Chinese

Address :  800 René-Lévesque West, Suite 425
Montreal, Quebec
Canada H3B 1X9
Tel No.: (514) 915-3836
Web Site:
Contact Person: Ronald Keenan
Position: CFO

Company Data

Traded Market: TSX-V
Traded Symbol: CUG
Outstanding Shares: 66.2 million
Public Float: 56 million
52 Week High: $ 0.15
52 Week Low: $ 0.055
Present Price: Click Here








Cyprium Mining focuses on the development of its Potosi mining operations in the state of Chihuahua, Mexico as well as identifying other mining projects that have significant exploration upside and short term production potential.

Cyprium Mining Focuses on Mexico

  • Acquire, operate and develop past producing mines
  • Two key selection criteria:
    • Can inexpensively be brought back into production in short-term
    • Significant exploration potential
  • Utilize traditional, proven small-scale production techniques in the short-term
  • Early cash flow funds the systematic development and exploration of the mines through modern equipment make new finds


Cyprium Mining assembled three key assets:

  • Controlling joint venture interest:
    • Historic Potosi silver mine
    • Potosi processing facility
    • La Chinche exploration property
  • Aldama processing facility
  • Las Cristinas copper/silver mine

(1) Potosi Silver Project, Chihuahua State, Mexico

Cyprium Mining’s flagship project is the historic Potosi silver mine located in the famous Santa Eulalia mining district of Mexico.

Cyprium Mining holds a 53% controlling interest in a joint venture which owns: (i) the exclusive exploitation and exploration rights of the Potosi silver mine located in the historic silver rich mining district of Santa Eulalia in Mexico; (ii) the exclusive rights of possession, usage and operations to the Potosi processing facility which is located seven kilometers from the Potosi silver mine; as well as (iii) all of the exclusive exploration and exploitation rights to a property adjacent to the south of the Potosi silver mine known as La Chinche.

Potosi processing facility

  • Recent partial rehabilitation for 400 tons/day capacity
  • Evaluation work started to move some of the rehabilitated equipment to the mine site
  • Dependent on rehabilitation of shaft #5 or renting the Buena Tierra shaft

Aldama Flotation Plant

  • Current capacity of 100 t/d
  • Exclusive right to use until Sept 2019
    • No need to build/variable cost
  • Key metric: “Tons per month”
    • Average of 26 days per month: 2,600 t/m or 31,200 t/y
  • Use Aldama to process mineralized material from the Potosi mine
  • Invested $200,000 in 2015
  • Invest additional $200,000 by mid 2016:
    • Technology to improve efficiencies and processes
    • Equipment to double the capacity to 200 tons per day

La Chinche Exploration Property

  • Adjacent to the south of the Potosi silver mine
  • Old workings
  • Never explored, excellent exploration potential
  • Immediate neighbors:
    • Mag Silver
    • Groupo Mexico
  • Seeking exploration partner

On July 6, 2016, Cyprium Mining announced the start of production at the Potosi silver mine. Production will focus initially on the "Tunel" mineralized body, which lies on levels 1 to 4 of the mine in the area accessed by the recently rehabilitated Potosi No. 3 shaft. Cyprium is currently extracting twenty tons per day on a test basis and expects to achieve an extraction volume of eighty tons per day by mid-August.

All mineralized material extracted from the mine will be sent to the Aldama flotation plant located 42 kilometers from the Potosi mine. The lead and zinc concentrates produced at the plant will be shipped to Trafigura Mexico under the terms of a commercial agreement with Trafigura.

It took only six months and less than a million dollars to return the Potosi Mine to production. Cyprium believes that the larger Santo Domingo mineralized body located at level 9, 10 and 11 of the mine has good exploitation potential. Evaluation and preparations for exploiting the Santo Domingo body will assume top priority.

(2) Las Cristinas Project, Chihuahua State, Mexico

The Las Cristinas Project is located in the Basin and Range Belt of north Mexico, 150 km northeast of the town of Chihuahua. The Project is in the centre of the Chorreras mineralized region.

Las Cristinas copper/silver mine

  • Shut down in the 70s
  • Two shafts, two levels, headframe and hoist
  • Significant exploration, including drilling in 2013/14
  • Property is 7 kilometers long by 1 to 2 kilometers wide
  • Las Cristinas Project consists of four adjacent exploration concessions (Las Cristinas, La Parrita, La Verde and La Lagrimosa) covering 684 hectares
  • Only 2 hours by road from Chihuahua
  • Next steps to be completed by end of 2016:
    • Dewater the old mine
    • Take 35 to 50 samples inside the mine
    • Focus exploration on high grade areas
  • Make small scale production decision in 2016


Management and Directors

Alain Lambert, Chairman, Chief Executive Officer and Director

Mr. Lambert is an entrepreneur with over twenty seven years of experience in various industries including natural resources, manufacturing and technology. Mr. Lambert holds a Bachelor degree in Law and has strong financing and management skills. He is a results-driven businessman and accomplished endurance athlete.

Ronald Keenan, Chief Operating Officer, Chief Financial Officer and Director

Mr. Keenan is leading the senior management team in Mexico. Mr. Keenan held various positions with Newalta Industrial Services Inc., including Executive Director Strategic Accounts. He was also Executive Vice President with Matrec. Mr. Keenan holds a Bachelor of Sciences degree with a major in accounting. Mr. Keenan is a Director of Section Rouge Média Inc.

Rosario Mundo, Manager of Finance and Administration

Mrs. Mundo is a Certified Public Accountant with almost twenty years of experience in the mining sector in Mexico.

Roberto Banda, Senior Exploration Manager

Mr. Banda has over 40 years of experience as a geologist in Mexico.

Jorge Guzman, Senior Manager, Plant Operations

Mr. Guzman is an Industrial Engineer and is the owner of the Aldama plant and has over 20 years of experience in flotation processes.

Alex Anchondo, Project and Operations Manager

Mr. Anchondo is an Electrical Industrial Engineer and has over 15 years of experience in procurement and logistics.

Robert Boisjoli, Director

Carlos Arzola, Director

Jonathan George, Director

Please refer to Cyprium's website for complete biographies.

News Update

On September 22, 2016, Cyprium Mining Corp. announced that at a special meeting of Cyprium Mining Corp. debenture holders held on Sept. 21, 2016, the holders of $750,000 in principal amount of unsecured debentures bearing interest at 12 per cent per annum overwhelmingly approved all matters presented, including the extension of the maturity date from Feb. 28, 2017, to Feb. 28, 2019.

On August 31, 2016, Cyprium Mining Corp. announced that it has called a special meeting of certain debenture holders for Sept. 21, 2016.

August 25, 2016
Cyprium picks up momentum at Potosi

On August 22, 2016, Cyprium Mining Corp. announced results from additional underground samples taken from an oxidized zinc body on level 14 as part of its continuing exploration program of the Potosi silver mine located in the historic Santa Eulalia district, Mexico.

The 36 samples were taken from two historic stopes on level 14 of the Santo Domingo body and averaged 30.2 per cent zinc over an average sample width of three metres. Two samples assayed less than 10 per cent zinc and two samples were below detection levels for the zinc assay utilized, and zero was used in the calculation of the average. If the two samples with zinc assays below detection are left out, the average is 32.0 per cent zinc for the remaining 34 samples.

On August 16, 2016, Cyprium Mining Corp. announced that it has filed a technical report prepared in accordance with National Instrument 43-101 on the Potosi silver mine located in the historic mining district of Santa Eulalia, Mexico. The report is available for review on both SEDAR and the company's website.

Over the last three weeks the Company proceeded with the first phase of production at the Potosi silver mine.

On July 27, 2016, Cyprium Mining Corporation announced that it has appointed Jonathan George as a director of the Company. Mr. George is a consulting geologist and entrepreneur who has been involved in international mineral exploration and development for over 35 years.

On July 20, 2016, Cyprium Mining Corporation announced the results from 71 additional underground samples taken from the Tunel body as part of its ongoing exploration program of the Potosi silver mine located in the Santa Eulalia district, Mexico. All samples were taken in areas where Cyprium expects initial production to take place.

The table below shows averages for sampling on different levels of the Tunel body. All of these exposures are at the margins of historic workings near the recently rehabilitated Potosi No. 3 shaft.



Width (m)









Level 1 manto







Level 1 chimney







Level 2 manto







Level 3½







Level 4 manto Zone A







Level 4 manto Zone B







Level 4 high grade vein








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