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Cygnus Metals Ltd (ASX:CY5) has discovered an array of spodumene-bearing pegmatites under glacial cover at its Auclair Lithium Project in Quebec, through a program of till sampling.

The discovery was made outside the mineralisation already identified by Cygnus at target areas Auriga, Lyra and Pegasus.

However, it also builds on the company’s previous history of blind pegmatite discoveries, with one at Pegasus pulling up results such as 43.7 metres at 1.15 lithium oxide (Li2O) below 10 metres of glacial overburden.

In addition to this, 10 new targets have been identified over strike through recent till anomalies, which show elevated coincident pathfinder elements.

Cygnus Executive Chair David Southam said he believed the sampling work suggested Auclair – located in the James Bay region of Quebec – had significant potential to host multiple pegmatites below surface.

“The combination of the pathfinder elements, the geophysical signatures and the limited drilling results highlights the scope for Auclair to host a major spodumene discovery in James Bay,” he said.

“Given all this highly promising evidence so far, we are really looking forward to the start of our next exploration program in coming days.

“Importantly, this is the first time we will have boots back on the ground since the discovery of Pegasus and Lyra at the tail end of the 2023 exploration season, when we had just two days of effective prospecting.”

Cygnus has been trading at 8.8 cents.

CY5 by the numbers
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