Cygnus Gold (ASX:CY5) has collected high grade silver-lead-zinc rock chips from the Bonnie Rock Project in Western Australia
This is a priority target with immediate follow up work planned for February.
Highlights include: Bonnie Rock ~129 sq. km (100% CY5)
• Field reconnaissance rock chips have confirmed significant Ag-Pb-Zn mineralisation over 1.2km of strike and remains open;
• Results include samples grading up to 89g/t Ag, 3% Pb and 6.7% Zn;
• These results align with limited early-stage historic exploration drilling over the area with grades of up to 760g/t Ag, 1.9% Pb and 1.7% Zn; and
• Follow up exploration programmes have been scheduled for February.
Exploration programmes have also progressed at Julimar East, Bencubbin and Panhandle Projects, targeting Nickel, Copper, PGE’s and Gold.
Highlights include:
Julimar East Project ~325 sq. km (100% CY5)
• New previously untested tenure located in close proximity and similar geological setting as Chalice Mining’s (ASX:CHN) Julimar Ni-Cu-PGE discovery;
• Reconnaissance soils programmes have now been completed to test areas of geophysical anomalism analogous to the Julimar Ni-Cu-PGE intrusion, with results pending; and
• Ground gravity survey commencing shortly to assist in drill targeting.
Bencubbin Project ~800 sq. km (100% CY5)
• Completed ground electro-magnetic survey over ultramafic lithologies in the north of the tenement, prospective for nickel-copper-PGE sulphides. Results pending.
• Field reconnaissance and rock chipping has confirmed prospective greenstone belt lithologies in the south the tenement. This will be followed up with an auger geochemical programme ahead of drilling. Panhandle Project ~100km² (100% CY5)
• Initial soil sampling over prospective lithologies has been completed. Results pending.
“We are very pleased to be progressing exploration activities across the Cygnus tenement holding with a number of exciting early-stage results received from the field work to date,” Executive Chairman Mr Shorrocks said,
“There is a significant volume of assays still pending which the Company is looking forward to receiving over the coming weeks.
“We have already started follow up on groundwork based on what we have already seen in the field.
“This terrane, the Southwest Yilgarn, has been overlooked for too long and only since Chalice Mining’s Julimar nickel and PGE discovery has the focus come back to the region.
“Cygnus with its 2,100 sq. km tenement package is in a great position to explore its highly prospective tenure and uncover value within this region.”
For further information please visit: https://www.cygnusgold.com/
