Financial Wire

Cygnus Provides High-Grade Drill Results from Golden Eye Deposit in Quebec

-- Cygnus Metals (CYG.V) reported overnight Wednesday high-grade drill results from the Golden Eye deposit within its Chibougamau copper-gold project in Quebec.

It said the latest results from infill drilling include "significant" high-grade intersections of up to 105.5g/t AuEq over 1.0m. It added these high-grade gold intercepts are complemented by impressive copper grades of up to 11.9% over 0.8m, plus silver grades of up to 142g/t over 0.8m.

Cygnus said the results highlight the strong potential to grow the indicated resource as well as the scope for further extensions.

"These results are some of the best intervals recorded at the Golden Eye deposit which is unmined, near surface and has existing infrastructure in place," Cygnus Executive Chairman David Southam said.

The company said it will include the results for the next resource update at Golden Eye.

Cygnus said exploration continues across multiple targets, including a detailed induced polarization survey at the Joe Mann property, as it seeks to generate walk up drill targets.

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