CY5: Spodumene-bearing pegmatite boulders identified at Auclair

CYGNUS GOLD LIMITED

• Auclair Lithium Project in James Bay, Canada
• Spodumene-bearing pegmatite boulders identified over 2.6km
• Potential for a large pegmatite system; mapping, geophysics, and drilling underway

2023-07-12 08:21:00

CY5: Satisfaction of Pontax earn-in milestone

CYGNUS GOLD LIMITED

• Cygnus Metals Limited has achieved the first payment milestone under its earn-in agreement for the Pontax Lithium Project with Stria Lithium Inc., earning 51% of the project.
• The C$2 million due for this milestone will be paid in Cygnus ordinary shares, contributing to a positive cross-ownership agreement between the two entities.
• With this payment settled in shares and $5.4m cash at bank, Cygnus is well funded for their upcoming summer exploration program at their lithium projects in James Bay, Quebec, with a maiden Mineral Resource for Pontax expected late July / early August.

2023-07-06 08:51:00

CY5: Dozens of pegmatite targets identified at Sakami Project

CYGNUS GOLD LIMITED

• First desktop studies of the Sakami Lithium Project, located 44km from Patriot Battery Metals’ Corvette Project, have identified multiple pegmatite targets. Exploration with airborne magnetics, LiDAR, and high-resolution orthophotography is set to start in August.
• The project, which has had no previous lithium exploration, has major potential for discovery. Highly experienced consultants Dahrouge Geological are engaged for initial mapping and prospecting, supported by senior Cygnus personnel.
• Infrastructure-wise, Sakami is conveniently located close to Hydro Quebec powerlines and the Tran-Taiga highway. Other developments include a maiden JORC Resource release for the Pontax Project and resuming drilling for the Auclair Project in August.

2023-07-04 08:18:00

CY5: Pontax Project Studies to commence ahead of Maiden Resource

CYGNUS GOLD LIMITED

• Consultants BBA appointed to conduct an initial environmental baseline assessment and geochemical characterization at the Pontax Lithium Project.
• Pontax Project's strategic location in central James Bay benefits from infrastructure, including proximity to the main highway and Hydro-Quebec power facilities.
• Cygnus' Maiden Resource Estimate is scheduled for release in late July/early August, marking the company as the third ASX-listed company with a lithium resource in Quebec.

2023-06-14 08:30:00

CY5: Highly promising clay-hosted rare earths discovery in WA

CYGNUS GOLD LIMITED

• Initial drilling assays at Bencubbin Project reveal significant high-grade rare earth mineralization over a 2.3km area, with large-scale potential.
• Up to 28% of the discovered mineralization is high-value magnet rare earths, crucial for electric motor production.
• Rare earths exploration at Bencubbin occurs alongside Cygnus' extensive lithium exploration efforts, positioning the company as an explorer of energy transition metals in two tier-1 locations.

2023-06-07 09:19:00

CY5: 67 pegmatites identified plus spodumene confirmed at Auclair

CYGNUS GOLD LIMITED

• Initial desktop studies identified 67 pegmatites and spodumene grading up to 1.2% Li2O at Cygnus Metals' Auclair Lithium Project in James Bay, Canada.
• Exploration, including geophysics, mapping, and rock chip sampling, is set to commence in June, with diamond drilling scheduled for July.
• Auclair is located within the same greenstone belt as Critical Elements Resource Corp’s Rose Deposit and Nemaska Lithium's Whabouchi project.

2023-05-22 08:25:00

CY5: Options Exercise and Cash Position

CYGNUS GOLD LIMITED

• Cygnus Metals Limited has $8.7 million cash on hand after the exercise of options.
• Funds will be used for completion of the maiden resource for Pontax and further exploration activities in various projects.
• Substantial shareholder Steve Parsons increased his shareholding, and non-executive directors exercised their options.

2023-05-02 09:37:00

CY5: Best result from Pontax drilling to date

CYGNUS GOLD LIMITED

• Best results to date: 23.4m @ 1.4% Li2O from 367.8m, indicating high-grade lithium and tantalum present in the Pontax system.
• Maiden resource on schedule for mid-2023, with intensive exploration planned for Pontax, Auclair, and Sakami.
• Latest assays continue to demonstrate multiple wide zones of stacked pegmatite mineralization, consistent with previously announced results.

2023-04-19 08:19:00

CY5: Auclair sale completed and Osisko becomes shareholder

CYGNUS GOLD LIMITED

• Cygnus completes acquisition of the Auclair lithium project in James Bay, Canada, from Osisko Development, which increases its shareholding in Cygnus.
• Co-operative framework arrangement allows Cygnus to leverage Osisko's Canadian exploration expertise and network for future plans.
• Significant work program planned for the acquired project, including geophysics and further assessment of the spodumene-bearing pegmatite.

2023-04-12 08:28:00

CY5: New James Bay Lithium Projects Acquired

CYGNUS GOLD LIMITED

• New acquisitions establish Cygnus as a major lithium explorer in James Bay, Quebec, with a total ground coverage of 756km2 across four projects.
• Sakami Project, located in La Grande greenstone belt, is near other major discoveries and offers exposure to lithium minerals.
• Auclair Project's ground position increases tw elve-fold, with historically identified presence of spodumene-bearing pegmatites and plans for a maiden resource in mid-2023.

2023-03-28 08:19:00

CY5: More high grade results extend known mineralisation

CYGNUS GOLD LIMITED

• High-grade assays extending known stacked mineralisation at Pontax Central, all shallow within 230m of surface and remain open in all directions
• Multiple wide and shallow zones of mineralisation consistent with previously announced assays
• Three diamond drill rigs working 24/7 with drilling ongoing for resource and step-out drilling

2023-03-21 08:42:00

CY5: Cygnus to acquire second advanced lithium project in Quebec

CYGNUS GOLD LIMITED

• Cygnus has acquired the Auclair Lithium Project in James Bay, Quebec from Osisko Development Corp., which gives them a total land holding of 332sq km.
• The spodumene-bearing pegmatite mineralisation is completely open with no other drilling along the same trend, presenting Cygnus with an immediate follow-up drill target.
• Drilling at Cygnus’ flagship Pontax lithium project in James Bay has returned multiple high-grade mineralised zones of Li2O.

2023-02-28 08:39:00

CY5: Cygnus acquires ground next to the Pontax Lithium Project

CYGNUS GOLD LIMITED

• Cygnus has acquired 9km of additional strike on the Chambois Greenstone Belt, giving it a total of 20km of prospective ground.
• The company has now completed three complimentary transactions for land packages in the James Bay District since July 2022.
• Strong assays from first two holes identified multiple high grade mineralised zones of Li2O.

2023-02-17 08:15:00

CY5: First High-Grade Assay Results from Pontax

CYGNUS GOLD LIMITED

• Results from first two holes return multiple significant intercepts, including up to 16.5m @ 1.1% Li 2O.
• Initial drilling has proven a stacked sequence of spodumene bearing pegmatites up to 75m wide and remains open at depth.
• 15,000m diamond drill program aims to systematically explore Pontax for the first time while targeting an Inaugural Mineral Resource mid 2023.

2023-02-14 08:15:00

CY5: Rock chips expand known lithium mineralisation at Pontax

CYGNUS GOLD LIMITED

1. Rock chip results of up to 3.3% Li2O, 80m south-west of Pontax Central, expand the known strike length to 700m, remaining open in all directions.
2. At the adjacent Pontax North target, rock chips over a large surface area revealed spodumene-bearing pegmatites with high grade results of 2.5% Li2O, 1.4% Li2O and 1.3% Li2O, confirming the potential for a replication of Pontax Central to the north.
3. Previously announced drilling by Cygnus has already doubled the known depth of the mineralisation at Pontax Central to 230m.

2023-01-18 08:49:00