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Cygnus Gold Ltd.
Summary
| Project: | Stanley | |
|---|---|---|
| Deposit: | Stanley | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 2/4/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 4-2-2019: Cygnus Gold Ltd. announces an Exploration/Drilling Update report for its Stanley deposit at the Stanley project. Drilling results incl. 4m @ 1.17g/t Au from 124m. Cygnus Gold (ASX:CY5, ‘Cygnus’ or the ‘Company’) has mobilised two rigs to start d | |
| Resources: | x | |
| CP/QP: | [Overall Report]: James Merrillees (Internal) | |
| ABSTRACT: | Cygnus Gold (ASX:CY5, ‘Cygnus’ or the ‘Company’) has mobilised two rigs to start drilling at its 100%-owned Bencubbin Project in WA’s Wheatbelt region. Diamond drilling commenced on Friday on the Jefferies gold prospect at Bencubbin, with the reverse circulation (RC) rig mobilising after completing the final stage of reverse circulation (RC) drilling at Cygnus’ Stanley project. Cygnus Gold’s Managing Director James Merrillees said the company was keen to start drilling at Bencubbin, which has previously been largely underexplored: “Our Bencubbin project is an exciting gold prospect that has until now received little deeper drilling and we look forward to seeing the results in the next few months,” Mr Merrillees said. Results from the drilling program completed in December last year at Stanley have now been received. The program consisted of eight RC holes and 65 AC holes targeted the Bottleneck and McDougall South Prospects. The two RC holes at McDougall South intersected a broad zone of anomalous gold which will be followed up with further RC and AC drilling. Drilling at Bottleneck intersected several zones of >1g/t Au although these intersections have not materially extended the Bottleneck mineralisation. A further five RC holes were drilled at Stanley in January at Bottleneck and McDougall with results expected in the next four weeks. Mr Merrillees said Cygnus was encouraged by the aircore results, given the limited deep drilling at Stanley. “Our aircore campaign at McDougall South intersected a broad zone of coherent gold mineralisation associated with an important structural setting,” “The Company looks forward to results from the January drilling at Stanley and also completing the drill program on the Bencubbin Project.” | |
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