Financial Wire

Cygnus Metals Says Infill Drilling at Canada Deposit Returns High-Grade Gold Intervals; Shares Fall 4%

-- Cygnus Metals (ASX:CY5) said infill drilling at the Golden Eye deposit within the Chibougamau copper-gold project in Canada returned high-grade gold intervals, highlighting the potential to grow the indicated resource, according to a Thursday Australian bourse filing.

The company encountered intercepts of 5.9 meters at 28.8 grams per tonne (g/t) grade of gold-equivalent, including 24.8 g/t grade of gold, 2.7% grade of copper, and 31.5 g/t grade of silver, as well as 11.5 meters at 4.3 g/t grade of gold-equivalent, including 2.5 g/t grade of gold, 1.1% grade of copper, and 26.1 g/t grade of silver.

Cygnus Metals' shares fell nearly 4% in recent trading on Thursday.

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