Cedar Bay Drill Hole Yields 10.6m at 4.1g/t AuEq, Extending Resource by 200m
Cygnus Metals reports compelling drill results at its Chibougamau Copper-Gold Project, including a standout high-grade gold interval at Cedar Bay that extends mineralisation well beyond current resource boundaries.
- First drill hole at Cedar Bay returns 10.6m at 4.1g/t AuEq, including 29.1g/t AuEq gold
- Mineralisation extends 200m outside existing resource estimate
- Additional high-grade copper-gold intersections at flagship Corner Bay deposit
- Recent 29% increase in global mineral resource at Chibougamau
- Ongoing exploration supported by AI-driven target identification and strong infrastructure
Strong Start at Cedar Bay
Cygnus Metals Limited has delivered a promising update from its Chibougamau Copper-Gold Project in Quebec, Canada, with its first drill hole at the Cedar Bay prospect returning a wide, high-grade gold interval. The standout result includes 10.6 metres grading 4.1 grams per tonne gold equivalent (AuEq), featuring a high-grade segment of 0.4 metres at 29.1g/t AuEq. This intersection lies 200 metres beyond the current Mineral Resource boundary, underscoring the potential for further expansion.
Resource Growth Momentum
This new drilling success builds on Cygnus’ recent 29% increase in the global Mineral Resource at Chibougamau, which now totals 6.4 million tonnes at 3.0% copper equivalent (CuEq) in the measured and indicated categories, plus 8.5 million tonnes at 3.5% CuEq inferred. Cedar Bay itself hosts a high-grade, gold-dominant resource with 67,000 ounces at 8.1g/t AuEq (measured and indicated) and 205,000 ounces at 7.8g/t AuEq (inferred), highlighting its significance within the project portfolio.
Corner Bay Continues to Impress
Alongside Cedar Bay, Cygnus has reported encouraging drill results at Corner Bay, the project’s flagship copper-gold deposit. Notably, a recent hole intersected 3.1 metres at 4.9% copper equivalent, again outside the recently defined resource. Corner Bay’s resource contains 137,000 tonnes of copper equivalent metal at 2.8% CuEq (indicated) and 159,000 tonnes at 3.0% CuEq (inferred), reinforcing its role as a cornerstone asset.
Leveraging AI and Infrastructure
Cygnus is actively employing a custom-built artificial intelligence solution to review historical data and drill logs, identifying new targets for exploration. This innovative approach complements the company’s ongoing drilling programs, which currently deploy two rigs at Cedar Bay targeting down-plunge extensions. The project benefits from well-established infrastructure, including a 900,000 tonnes per annum processing facility, sealed highways, an airport, regional rail, and hydro power, positioning Chibougamau as a near-term development opportunity.
Looking Ahead
With drilling continuing and an updated economic study underway to incorporate current metal prices, Cygnus is clearly advancing Chibougamau along a fast-growth trajectory. Executive Chairman David Southam emphasised the excitement around the high-grade results and the company’s commitment to pushing the project towards development, signaling a potentially transformative phase for shareholders and the broader copper-gold sector.
Bottom Line?
Cygnus Metals’ latest drilling breakthroughs and resource growth set the stage for a pivotal development phase at Chibougamau.
Questions in the middle?
- How will the upcoming economic study impact project valuation and development timelines?
- What further resource expansions might the ongoing AI-driven exploration uncover?
- How will seasonal conditions affect drilling progress at Corner Bay this winter?
