Cygnus (ASX:CY5) strike early spodumene success at Auclair

Cygnus (ASX:CY5) strike early spodumene success at Auclair

October 19, 2023 Off By Tom Duggan

Cygnus Metals first drill campaign into the Auclair Project has intersected multiple pegmatites up to 13.9 metres wide and bearing visible spodumene over a 1.9-kilometre corridor of strike in Canada’s James Bay lithium province.

Early exploration over outcropping pegmatite in the corridor yielded numerous high-grade samples as strong as 6.5 per cent lithium oxide, while additional results from well outside have revealed a clear trend of highly fractionated and mostly untested pegmatites spanning over 10 kilometres.

Cygnus Managing Director David Southam said the first-ever lithium exploration program at the project had already demonstrated its enormous potential.

“We have already outlined spodumene-bearing pegmatites through drilling, and channel and grab samples over a 1.9km-long corridor with spectacular grades of up to 6.5% Li2O,” Mr Southam said.

“It is well documented that the entire James Bay region contains a substantial number of pegmatites, most of which will not be mineralised, however what sets Auclair apart is that we have confirmed both high grade and a swarm of spodumene mineralisation, yet we have only tested a minor portion of our 405sqkm tenure.”

Mr Southam added that encountering highly fractionated pegmatites within 10 kilometres of current exploration was very encouraging, and additional sampling and fieldwork was already underway.

“In light of all these factors, we have engaged an industry-leading geophysics group to use the latest techniques, combined with LiDAR, to analyse our results and generate additional targets,” he said.

“In the meantime, and consistent with our recent capital raising disclosures, we are moving the rig to Pontax to complete a program initially aimed at step out drilling from our maiden Mineral Resource announced earlier in the year.”

Work using high resolution magnetics and LiDAR to generate more targets is underway at Auclair, and the diamond rig is set to spin at Pontax, directed at growing the mineralised footprint of its established 10Mt at 1.04% Li2O resource.

Cygnus is busy across its wide-reaching James Bay portfolio and has also begun prospecting and airborne geophysics targeting numerous pegmatites identified at its Corvette-adjacent Sakami Project earlier this year.

CY5 Auclair Map

The 1.9km corridor of visual spodumene-bearing pegmatites and sampling results.

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