Cygnus Metals Confirms Continuity, Grade of Mineralization at Canada Deposit; Shares Up 5%
MT Newswires Live
May 25
Cygnus Metals (ASX:CY5) confirmed the continuity and grade of mineralization at the Golden Eye deposit, within its Chibougamau project in Canada, following the receipt of final infill drilling results, according to a Monday filing with the Australian bourse.
Results include 8.4 meters at 16 grams per tonne grade of gold equivalent, including three meters at 40 g/t gold equivalent, 3.6 meters at 16 g/t gold equivalent, including 2.5 meters at 22 g/t gold equivalent, the filing said.
Additionally, the company started exploration drilling at the Gwillim prospect, targeting high-grade historic intersections to establish an initial resource, per the filing.
Shares rose 5% in midday trade on Monday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.