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Cygnus Metals Limited (ASX:CY5)

ALERT: Price-sensitive ASX Announcement for CY5
Current share price for CY5 : $0.145 0.04 (38.10%)+
Announcement
Release
25 May 2026 8:50AM
Price at Release
$0.105
Full Release
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Summary
Cygnus Metals Limited has reported high-grade drilling results from the Golden Eye deposit, part of its Chibougamau Copper-Gold Project in Quebec. The results include significant intersections such as 8.4m at 16.3g/t AuEq, indicating a successful conversion of inferred resources to the more valuable indicated category. The Golden Eye mineral resource is now estimated at 0.5Mt at 5.6g/t AuEq for 91koz AuEq Indicated and 1.2Mt at 4.6g/t AuEq for 182koz AuEq Inferred. The company is also advancing its exploration at the Gwillim gold prospect with support from joint venture partner Alamos Gold. The Chibougamau project is well-positioned due to its proximity to existing infrastructure, including a large processing facility, enhancing its development potential.
Key Points
  • Golden Eye deposit results show high-grade intersections, including 8.4m at 16.3g/t AuEq and 3m at 39.5g/t AuEq.
  • Cygnus Metals is converting Inferred resources to Indicated category at Golden Eye.
  • The Golden Eye resource is 0.5Mt at 5.6g/t AuEq for 91koz AuEq Indicated and 1.2Mt at 4.6g/t AuEq for 182koz AuEq Inferred.
  • Drilling at Gwillim gold prospect has commenced, targeting high-grade historical intersections.
  • Cygnus is co-funding the drilling program at Gwillim with Alamos Gold.
  • The Chibougamau Copper-Gold Project benefits from existing infrastructure and is near a 900,000tpa processing facility.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.