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Cygnus Gold Ltd.
Summary
| Project: | Stanley | |
|---|---|---|
| Deposit: | Bottleneck | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/4/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 4-7-2018: Cygnus Gold Ltd. announces an Exploration/Drilling Update report for its Bottleneck deposit at the Stanley project. Drilling results incl. 2m @ 0.58g/t Au from 131.2m. Cygnus Gold (or the Company) (ASX:CY5) advises that results have been receive | |
| Resources: | x | |
| CP/QP: | [Overall Report]: James Merrillees (Internal) | |
| ABSTRACT: | Cygnus Gold (or the Company) (ASX:CY5) advises that results have been received from the final seven diamond core holes drilled on the Company’s wholly-owned Stanley Project in the southwest of Western Australia. The most recent assay results are from six diamond (DD) holes drilled to extend reverse circulation (RC) precollars, targeting mineralisation intersected in the basement at the Bottleneck Prospect in Cygnus hole BNDD006, as well as a single diamond hole drilled on the Brays Prospect (refer ASX announcement 08 June 2018). Significant intersections in the six DD holes at Bottleneck include BNRD010 with Although these intervals coincide with the targeted extensions of the mineralised zone intersected in Cygnus hole BNDD006, the latest assays have not replicated earlier high-grade results. DD hole BNDD007at Brays intersected a dense, magnetite and sulphiderich (pyrite, pyrrhotite and trace chalcopyrite) mafic-ultramafic unit. Detailed structural logging demonstrated that the hole was drilled down the limb of a fold and missed the targeted fold nose structure. Cygnus Gold’s Managing Director James Merrillees said, “It is early days at our Stanley Project and there are several, highly- promising targets the Company has identified which we plan to test at Stanley and elsewhere on our significant tenement package in the south west of WA. “The detailed ground surveys and four drilling programs we’ve completed since listing in January have increased our understanding of mineralisation at Stanley, also reflecting the team’s ability to execute our exploration strategy. We are well funded to leverage this capability as we continue to test high-quality targets in our portfolio over the coming months.” | |
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