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Cygnus Gold Ltd.
Summary
| Project: | Lake Grace | |
|---|---|---|
| Deposit: | Lake Grace | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/10/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 10-7-2019: Cygnus Gold Ltd. announces an Exploration/Drilling Update report for its Lake Grace deposit at the Lake Grace project. JV with Gold Road Resources - drilling results incl. 1m @ 0.15g/t Au from 51m. 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 report that drilling has recommenced on the Lake Grace JV, with Gold Road Resources Ltd (Gold Road). The program of up to 77 aircore holes (~3,000m) is underway focussed on the Hammerhead prospect, a broad zone of gold and arsenic anomalism intersected in drilling by Cygnus at target GC01. The program is expected to take up to three weeks to complete with final results expected in August. Cygnus Gold’s Managing Director James Merrillees said, “It’s great to be drilling again at Lake Grace with the support of our partners Gold Road. The positive early results from drilling at Hammerhead have given us the confidence to expand the program along this portion of the highly prospective Yandina Shear.” The Lake Grace JV covers ~800km2 of tenements in the Wheatbelt of WA focused on the Yandina Shear, an important geological structure controlling gold mineralisation in the region (Figure 1). Lake Grace is one of several prospective joint venture/earn-in projects with Gold Road, where Cygnus is managing exploration on tenements covering more than 6,000km2 in the southwest of the Yilgarn Craton, Western Australia. | |
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