Cygnus’ #CY5 first drill hole at the Chibougamau Copper-Gold Project in Canada has returned up to 9.1% Cu outside of the Resource – an outstanding start to the exploration campaign. 

The first drillhole from this program returned an intersection of 7.3m @ 4.2% Cu, 0.3g/t Au & 16.6g/t Ag, including 2.5m @ 9.1% Cu, 0.5g/t Au & 31.4g/t Ag from a potential new lode ~250m east of the existing resource in the footwall of the Corner Bay deposit. Follow up downhole electromagnetics has since defined a significant off hole electromagnetic anomaly (530m x 460m) to the north and down dip of the intersection that has yet to be tested by drilling.

Our Executive Chairman David Southam said: “We are delighted to hit the ground running with an excellent intersection from a previously undrilled area which is only 250m away from main Corner Bay Deposit.

“This result supports our view that there is much more to find at Chibougamau, both near the existing deposits and in the wider region, and is consistent with our strategy to create shareholder value by growing the resource.

“The downhole geophysics is already proving to be a key tool for the project and will help us unlock other under-explored areas of the project."

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#CY5