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Cygnus Gold Ltd.
Summary
| Project: | Stanley | |
|---|---|---|
| Deposit: | Bottleneck | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 3/7/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 7-3-2018: Cygnus Gold Ltd. announces an Exploration/Drilling Update report for its Bottleneck deposit at the Stanley project. Drilling results incl. 6m @ 3.27g/t Au from 157.5m. Cygnus Gold (ASX:CY5, the ‘Company’) is pleased to announce high grade gold r | |
| Resources: | x | |
| CP/QP: | [Overall Report]: James Merrillees (Internal) | |
| ABSTRACT: | Cygnus Gold (ASX:CY5, the ‘Company’) is pleased to announce high grade gold results from the final two holes drilled at its Bottleneck Prospect, 300 km south east of Perth in WA’s Wheatbelt region. Hole BNDD006, drilled approximately 250m to the north west of holes previously reported (CY5 ASX announcement 22 February 2018), intersected a high-grade interval of 6m @ 3.27 g/t Au from 157.5m which included 2m @ 8.82 g/t Au from 161.5m. High-grade mineralisation in BNDD006 is hosted in an intensely folded and veined intermediate granulite, and mineralisation remains open in all directions. Importantly, this interval is in fresh Archean basement rock. Hole BNDD005 intersected several intervals of low grade gold in weathered rock. The Company sited BNDD005 based on an interpretation of historical aircore drilling, and now considers the hole was drilled from the wrong location to intersect the plunging mineralisation at Bottleneck. In addition to confirming high-grade mineralisation in the shallower oxidised zone as previously reported, these new results show the mineralising system extends deep into the basement continuing over a considerable strike length, and representing an important next step in targeting a gold resource at Bottleneck and the wider Stanley project. Cygnus Gold’s Managing Director James Merrillees said the Company was excited by the high-grade gold results in the latest assays from diamond drilling at Bottleneck. | |
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