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Cygnus Metals Limited ( (AU:CY5) ) has provided an announcement.
Cygnus Metals has outlined two high-priority gold prospects, Gwillim and Joe Mann, at its Chibougamau Copper-Gold Project in Quebec, targeting resource growth through new drilling planned for the June quarter, subject to permitting. Historic drilling at Gwillim, a 50% joint venture with Alamos Gold located 12km from the Chibougamau processing plant, has returned multiple wide, high-grade gold intersections, while the past-producing Joe Mann mine area hosts an existing inferred resource of 143,000 ounces at 6.0g/t gold and several near-surface high-grade intercepts; both areas have seen limited modern exploration. The Joe Mann ground sits within a district recently consolidated by IAMGOLD’s acquisition of Northern Superior Resources, underscoring the strategic value of the region. In parallel, Cygnus is resuming drilling at the Golden Eye deposit to test depth extensions and upgrade resources, and awaits assays from shallow mineralisation at Cedar Bay, all part of an aggressive strategy to expand and convert resources at Chibougamau, where current copper-equivalent resources already total millions of tonnes in both measured and inferred categories.
The most recent analyst rating on (AU:CY5) stock is a Hold with a A$0.22 price target. To see the full list of analyst forecasts on Cygnus Metals Limited stock, see the AU:CY5 Stock Forecast page.
More about Cygnus Metals Limited
Cygnus Metals Limited is an ASX-, TSXV- and OTCQB-listed exploration company focused on copper and gold, with its flagship Chibougamau Copper-Gold Project in Quebec, Canada. The project benefits from established regional infrastructure, including a 900,000tpa processing facility and supporting transport and power networks, positioning Cygnus to advance resources in a well-serviced mining district.
Average Trading Volume: 1,953,883
Technical Sentiment Signal: Buy
Current Market Cap: A$234.2M
Find detailed analytics on CY5 stock on TipRanks’ Stock Analysis page.