Cygnus Metals Uncovers New High-Grade Targets Near Historic Cedar Bay Mine

• New high-grade copper-gold targets identified near Cedar Bay mine
• Additional drill rig to commence testing next week
• Resource update incorporating Golden Eye and Corner Bay results due next month
• Historic Cedar Bay mine produced 400Koz gold and 61Kt copper at 4% CuEq
• Project benefits from established infrastructure and central processing facility

Historic Legacy Meets Modern Exploration

Cygnus Metals Limited has revealed a suite of compelling new drilling targets within its Chibougamau Copper-Gold Project in Quebec, Canada, situated adjacent to the historic Cedar Bay mine. This mine, which ceased operations in 1990, was once one of the highest-grade producers in the region, yielding approximately 400,000 ounces of gold and 61,000 tonnes of copper at an average grade of 4% copper equivalent. Despite its closure over three decades ago, a substantial unmined resource remains, offering a tantalizing opportunity for expansion.

AI-Driven Data Unlocks New Potential

Cygnus has leveraged an innovative, custom-built artificial intelligence solution to re-examine over 100,000 pages of historical data and drill logs, some untouched for more than 35 years. This low-cost, data-driven approach has already yielded significant results at the Golden Eye prospect and has now identified multiple high-grade targets near Cedar Bay. The company plans to mobilize an additional drill rig next week to rapidly test these targets, aiming to capitalize on the potential for resource growth.

Resource Update on the Horizon

Alongside the new drilling campaign, Cygnus is preparing a comprehensive resource update scheduled for release next month. This update will incorporate recent infill drilling results from Corner Bay, which include notable intersections such as 3.5 meters at 4.9% copper equivalent and 1.8 meters at 7.7% copper equivalent. The update will also integrate the successful Golden Eye drilling outcomes, providing a refreshed and more robust picture of the project’s resource base.

Strategic Infrastructure Advantage

The Chibougamau Project benefits from well-established infrastructure, including a 900,000 tonnes per annum processing facility located less than three kilometers from the Cedar Bay mine. Additional assets such as a local mining town, sealed highways, an airport, regional rail, and hydroelectric power supply provide Cygnus with a significant operational head start. This infrastructure supports the company’s hub-and-spoke development model, aiming to efficiently process ore from multiple deposits within the camp.

Looking Ahead

With mineralisation open in multiple directions and high-grade intersections extending beyond current resource boundaries, Cygnus is well-positioned to expand its footprint in this historic mining district. The combination of cutting-edge data analysis, ongoing drilling, and strategic infrastructure sets the stage for potential value creation and project advancement in the coming months.

Bottom Line?

As Cygnus accelerates drilling and prepares its resource update, the market will watch closely to see if historic high grades translate into a new chapter of growth.

Questions in the middle?

• How will the upcoming resource update impact Cygnus’ valuation and project economics?
• What are the timelines and expected scale for drilling results from the new rig?
• Can the AI-driven historical data approach unlock further targets beyond Cedar Bay?