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Cygnus Gold Ltd.
Summary
| Project: | Lake Grace | |
|---|---|---|
| Deposit: | Lake Grace | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/7/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 7-5-2020: Cygnus Gold Ltd. announces an Exploration/Drilling Update report for its Lake Grace deposit at the Lake Grace project. Drilling results incl. 12m @ 0.78g/t Au from 30m. Cygnus Gold (Cygnus or the Company) (ASX:CY5) is pleased to report further a | |
| Resources: | x | |
| CP/QP: | [Overall Report] James Merrillees (Internal) | |
| ABSTRACT: | Cygnus Gold (Cygnus or the Company) (ASX:CY5) is pleased to report further anomalous gold results from the recently completed aircore (AC) drilling program on the Lake Grace JV in partnership with Gold Road Resources Ltd (‘Gold Road’, ASX:GOR). The 336-hole (15,737m) program at Lake Grace targeted the more than 20km long Hammerhead greenstone belt, where previous drilling by the JV had intersected widespread anomalous gold associated with the Yandina Shear Zone, a geological structure interpreted to control the distribution of gold mineralisation regionally. The results from the early 2020 AC drilling have confirmed at least eight discrete gold anomalous prospects, with best results returned from the Gunsmoke, Lakeside and Hammerhead prospects, including: Most of the gold zones are open in all directions with drilling to date widely spaced, with holes generally spaced100m apart on each drilling line and drilling lines spaced more than 400m apart, and in some cases up to 1.6km apart. The gold intersected to date at the Hammerhead Project is associated with anomalous arsenic, copper and molybdenum, considered typical ‘pathfinder’ elements for gold mineralisation in this region. | |
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