Cygnus Metals identifies new high-grade targets at Cedar Bay, advancing resource expansion through historic data analysis and strategic drilling in Quebec.
Cygnus Metals Limited has identified a series of highly promising drilling targets adjacent to a historically significant high-grade deposit within its Chibougamau Copper-Gold Project in Quebec, Canada. The targets are located near the Cedar Bay mine, part of the project鈥檚 northern Chibougamau copper-gold camp鈥攁n area responsible for the bulk of historic production in the region. Over the decades, this camp has yielded close to 1 million tonnes of copper and approximately 3.5 million ounces of gold from numerous mining operations.
Cedar Bay, which ceased operations in 1990, was once one of the camp鈥檚 richest deposits, producing around 400,000 ounces of gold and 61,000 tonnes of copper at an average grade of 4.0% CuEq. Its closure was largely due to low metal prices at the time and a change in the operating company鈥檚 priorities, rather than resource depletion. Remarkably, the site still hosts a substantial unmined resource, estimated at 130,000 tonnes grading 8.9% CuEq in the Indicated category and 230,000 tonnes at 8.5% CuEq in the Inferred category. This mineralisation remains open in several directions, presenting Cygnus with strong potential for further expansion through systematic exploration.
Notable drill intercepts outside the current resource boundaries include:
鈥�听听听听听听听听听听听听 3.4 metres @ 16.8% CuEq (4.8% Cu, 15.2g/t Au, 23.3g/t Ag) 鈥� Hole CB-27-9
鈥�听听听听听听听听听听听听 2.9 metres @ 9.6% CuEq (8.4% Cu, 1.0g/t Au, 43.0g/t Ag) 鈥� Hole CB-27-6
Cygnus鈥檚 recent progress stems from its methodical compilation of historical data, a cost-effective strategy involving the processing of over 100,000 scanned documents, including decades-old drill logs. Many of these have never before been integrated into modern 3D geological software. This initiative has already yielded results, with drilling success at the Golden Eye prospect expected to feature in the September quarter鈥檚 resource update, alongside potential expansions at Cedar Bay.
Given the promising nature of the new targets, the company will deploy an additional drill rig to explore mineralisation along strike and at depth, using the newly assembled data and refined geological models. This marks the first time in more than 35 years that such data has been systematically applied to exploration at Cedar Bay.
At Corner Bay, final infill drilling results have been received ahead of next month鈥檚 resource update. Highlights include:
鈥�听听听听听听听听听听听听 3.5 metres @ 4.9% CuEq (4.2% Cu, 0.5g/t Au, 27.3g/t Ag) 鈥� Hole CB-25-123
鈥�听听听听听听听听听听听听 1.8 metres @ 7.7% CuEq (6.3% Cu, 0.9g/t Au, 45.9g/t Ag) 鈥� Hole CB-25-125
Cygnus is advancing a dual-track approach: expanding resources through exploration while upgrading existing resources for future development. The Chibougamau district鈥檚 well-established infrastructure鈥攊ncluding a 900,000tpa processing plant, sealed highway, rail connections, local power supply, and proximity to a mining-oriented community鈥攑rovides a significant advantage, particularly as the Chibougamau facility is the only base-metal processing plant within a 250-kilometre radius.
