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- Cygnus Gold (CY5) begins drilling at its Pontax lithium project in the James Bay lithium region of Quebec, Canada
- Up to 10,000 metres of diamond drilling will be undertaken to target extensions of the Pontax Central outcrop which has intersected up to 2.6 per cent lithium oxide
- The drilling follows the completion of mapping and sampling that focused on areas identified via LiDAR, magnetics and high-resolution imagery
- Cygnus is currently interpreting the results so it can outline further targets for the drilling program
- Shares in Cygnus are steady on the market and trading at 55 cents at 2:42 pm AEDT
Cygnus Gold (CY5) has begun drilling at its Pontax lithium project in the James Bay lithium region of Quebec, Canada.
The company will undertake 10,000 metres of diamond drilling to target down dip and along the strike extents of the Pontax Central outcrop which has intersected up to 2.6 per cent lithium oxide.
The drilling follows the recent completion of mapping and sampling that focused on areas identified via LiDAR, magnetics and high-resolution imagery.
Cygnus is in the process of interpreting the results and, once received, will use the results to outline further targets for the drilling program.
Executive Director Michael Naylor said the company is excited to begin drilling at highly prospective targets.
“We know from previous drilling that there is significant high-grade spodumene over a 620-metre strike length. This initial phase of drilling is designed to extend that known mineralisation down dip and along strike,” he said.
“We are already seeing exciting results across the board with LiDAR proving to be a highly efficient tool in identifying vegetation-covered outcrop, with several new pegmatites now mapped and sampled across the project.”
Shares in Cygnus were steady on the market and trading at 55 cents at 2:42 pm AEDT.
