Significant intercepts of gold and copper show Golden Eye emerging as a highly promising new resource prospect

Core Insights - Cygnus Metals Limited has reported significant high-grade gold mineralization at the Golden Eye prospect within the Chibougamau Copper-Gold Project in Quebec, with the best intercepts to date being 60.8g/t AuEq over 0.4m, including 51.3g/t Au, 7.2% Cu, and 18.0g/t Ag [1][6][13] - The results indicate the potential for valuable resource growth, with additional assay results expected soon from ongoing drilling [5][9][10] Drilling Results - Recent drilling results include: - 7.4m @ 5.7g/t AuEq (4.6g/t Au, 0.9% Cu, 5.6g/t Ag) from 405.6m, with a notable interval of 3.1m @ 9.6g/t AuEq [6][13] - 2.9m @ 10.2g/t AuEq (8.3g/t Au, 1.4% Cu, 3.3g/t Ag) from 463.8m, including the high-grade 0.4m @ 60.8g/t AuEq [6][13] - Historical drilling has shown significant intersections, such as 5.9m @ 34.1g/t AuEq and 4.5m @ 21.6g/t AuEq, indicating a strong potential for resource estimation [7][14] Project Development - The Golden Eye prospect is strategically located 3km from Cygnus' central processing plant, with existing dual ramp access within 150m of the mineralization [8][10] - Cygnus plans to compile new drilling results with historical data from 77 holes totaling 21,371m to complete an initial Mineral Resource Estimate for Golden Eye [10][15] Historical Context - The Chibougamau district has a rich history of gold and copper production, with over 3.5 million ounces of gold produced historically at an average grade of 2.1g/t Au [11][12] - Golden Eye has never been mined and was last drilled in the early 1990s when gold prices were significantly lower [6][10] Future Outlook - Cygnus aims to leverage ongoing exploration and data compilation to identify additional drill targets and enhance resource growth, focusing on low-risk brownfield exploration [15][12] - The company is positioned to benefit from historically high gold prices, making Golden Eye a potential growth driver [8][9]