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Cygnus Gold Ltd.
Summary
| Project: | Lake Grace | |
|---|---|---|
| Deposit: | Hammerhead | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/15/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 15-10-2019: Cygnus Gold Ltd. announces an Exploration/Drilling Update report for its Hammerhead deposit at the Lake Grace project. JV with Gold Road Resources - drilling results incl. 6m @ 0.28g/t Au from 56m. Cygnus Gold (Cygnus or the Company) (ASX:CY5) | |
| Resources: | x | |
| CP/QP: | [Overall Report]: James Merrillees (Internal) | |
| ABSTRACT: | Cygnus Gold (Cygnus or the Company) (ASX:CY5) is pleased to provide an update on activities on the Company’s joint ventures with Gold Road Projects, a wholly owned subsidiary of well-credentialed ASX-listed gold producer Gold Road Resources Ltd (Gold Road) (ASX:GOR). The Cygnus - Gold Road joint ventures (JV) cover an area of more than 5,000km2 in the Wheatbelt region of Western Australia (Figure 1). These tenements are located along the Yandina Shear, a largely unexplored regional structure interpreted to control the location of gold deposits such as Tampia, Griffin’s Find and Lake Magenta. Recent aircore drilling at the Hammerhead prospect returned additional widespread, anomalous gold including 3m @ 0.35g/t Au from 52m (hole LGAC0058) and 6m @ 0.28g/t Au from 56m to end of hole (hole LGAC0091). These intersections are associated with widespread anomalous gold pathfinder elements such as arsenic, copper, and molybdenum, and are in addition to the results reported in CY5 ASX announcement 10 July 2019. | |
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