Cygnus Metals Ltd.: More high-grade assays pave way for resource at Golden Eye
Press Release
HIGHLIGHTS:
⦁ Latest results from Golden Eye confirm multiple parallel zones with significant mineralisation; Results include:
o 4.3m @ 9.8g/t AuEq (7.5g/t Au, 1.6% Cu & 23.9g/t Ag) (LDR-25-10)
o 3.3m @ 12.7g/t AuEq (8.4g/t Au, 3.1% Cu & 30.2g/t Ag) (LDR-25-09)
⦁ Including 1.9m @ 21.1g/t AuEq (14.2g/t Au, 4.9% Cu & 47.5g/t Ag)
o 2.5m @ 7.3g/t AuEq (5.9g/t Au, 0.9% Cu & 14.9g/t Ag) (LDR-25-10)
⦁ 3.3m @ 3.8g/t AuEq (3.2g/t Au, 0.4% Cu & 3.5g/t Ag) (LDR-25-09)
⦁ Cygnus intends to use the new results and the compiled historic drill data, totalling 77 holes for 21,371m, to complete an initial Mineral Resource for Golden Eye
⦁ Significant intersections from historic drilling2 include:
⦁ 5.9m @ 34.1g/t AuEq (32.2g/t Au, 1.2% Cu & 27.3g/t Ag) (RD-11)
⦁ 4.5m @ 21.6g/t AuEq (14.9g/t Au, 4.7% Cu & 54g/t Ag) (RD-28) o 8.4m @ 12.7g/t AuEq (11.0g/t Au, 1.3% Cu & 15.8g/t Ag) (RD-20) o 7.5m @ 22.1g/t AuEq (16.0g/t Au & 4.7% Cu) (S1-87-1)
o 10.4m @ 12.2 g/t AuEq (7.3g/t Au, 3.5% Cu & 31.8g/t Ag) (S3-86-4)
⦁ Golden Eye has never been mined and was last drilled in the early 1990s when gold was less than US$350/oz. The entire drilling target sits outside the current Mineral Resource1
⦁ Importantly Golden Eye remains open at depth with 2.9m @ 10.2g/t AuEq in deepest hole from recent campaign3
⦁ The Golden Eye prospect sits 3km from Cygnus’ central processing plant and has existing dual ramp access within 150m of the mineralisation
⦁ Gold was a significant part of the historic production within the Chibougamau District, with over 3.5Moz of gold produced alongside 945,000t of copper.4
Cygnus Metals Limited (ASX: CY5; TSXV: CYG; OTCQB: CYGGF) (“Cygnus” or the “Company”) is pleased to announce further high-grade assays from the Golden Eye prospect within the Chibougamau Copper-Gold Project in Quebec.
Recent results from two diamond holes have revealed the presence of multiple parallel mineralised zones with gold-copper-silver mineralisation. The results from the latest assays include:
o 3.3m @ 3.8g/t AuEq from 174.2m (3.2g/t Au, 0.4% Cu & 3.5g/t Ag) (LDR-25-09);
⦁ 3.3m @ 12.7g/t AuEq from 209.6m (8.4g/t Au, 3.1% Cu & 30.2g/t Ag) (LDR-25-09);
⦁ Including 1.9m @ 21.1g/t AuEq (14.2g/t Au, 4.9% Cu & 47.5g/t Ag);
o 2.5m @ 7.3g/t AuEq from 226.5m (5.9g/t Au, 0.9% Cu & 14.9g/t Ag) (LDR-25-09);
o 2.7m @ 3.5g/t AuEq from 147.7m (1.5g/t Au, 1.3% Cu & 23.0g/t Ag) (LDR-25-10); and
⦁ 4.3m @ 9.8g/t AuEq from 157.8m (7.5g/t Au, 1.6% Cu & 23.9g/t Ag) (LDR-25-10);
⦁ Including 2.0m @ 18.8g/t AuEq (14.6g/t Au, 2.8% Cu & 43.5g/t Ag).
These results are in addition to previously released results2,3 from Golden Eye:
o 3.3m @ 6.6g/t Au from 131.7m (LDR-25-05);
⦁ Including 2.3m @ 9.1g/t Au;
⦁ 7.4m @ 5.7g/t AuEq (4.6g/t Au, 0.9% Cu & 5.6g/t Ag) from 405.6m (LDR-25-08); and
⦁ Including 3.1m @ 9.6g/t AuEq (7.4 g/t Au, 1.6% Cu & 10.0g/t Ag);
⦁ 2.9m @ 10.2g/t AuEq (8.3g/t Au, 1.4% Cu & 3.3g/t Ag) from 463.8m (LDR-25-08);
⦁ Including 0.4m @ 60.8g/t AuEq (51.3g/t Au, 7.2% Cu & 18.0g/t Au).
With the drilling at Golden Eye completed and the majority of assays returned (assays are pending for one hole), the focus has shifted towards establishing an initial resource for Golden Eye. This will include the six holes for 1,954m completed this year as well as the compiled historic data which includes 77 holes for 21,371m. Significant historic drill intercepts2 dating back to the 1990s returned:
IBF4
