Cygnus Metals Hits High-Grade Gold-Copper at Golden Eye, Eyes Resource Upgrade

Key Highlights:

• Standout intercept: 2.9m @ 10.2g/t AuEq including 0.4m @ 60.8g/t AuEq
• Drilling confirms mineralisation open at depth and near surface
• Market cap at $69.66M; stock trades at $0.082 with pending assays in pipeline
   

Cygnus Metals Ltd (ASX: CY5) has struck its best drill results to date at the Golden Eye prospect within its Chibougamau Copper-Gold Project in Quebec, further bolstering its exploration credentials in a historically rich mining district.

Shares in the company edged up 1.24% to $0.082 at midday Wednesday, buoyed by new intercepts that include 2.9m @ 10.2g/t gold equivalent (AuEq), with a standout 0.4m @ 60.8g/t AuEq (51.3g/t Au, 7.2% Cu, 18g/t Ag). The results stem from drillhole LDR-25-08 and build on previous hits such as 3.3m @ 6.6g/t Au, showcasing consistency across the Golden Eye zone.

Golden Eye, which sits just 3km from Cygnus’ central 900,000tpa processing facility and features existing dual ramp access, is quickly emerging as a compelling near-term development opportunity. The mineralisation remains open at depth, and visible gold has already been logged in LDR-25-09, with assays pending from multiple additional holes.

Cygnus is now compiling data from 77 holes totaling over 21,000m—including both recent and historical drilling—to deliver its maiden Mineral Resource Estimate for Golden Eye. The company believes the area could meaningfully contribute to its hub-and-spoke production strategy in Chibougamau, a district with over 3.5Moz of historical gold production.

Executive Chair David Southam commented, “Golden Eye is emerging as something special… The high-grade hits and proximity to infrastructure give us confidence in its potential to drive significant resource growth.”

With no debt and a market cap below $70 million, Cygnus remains one to watch, particularly as gold prices hover near all-time highs and further assays are expected in the current quarter.