Core Viewpoint - Cygnus Metals Limited has announced a significant increase in the Mineral Resource Estimate (MRE) for the Chibougamau Copper-Gold Project, highlighting substantial growth potential and a favorable market environment for copper projects [2][4][10]. Group 1: Resource Growth - The global Measured & Indicated Mineral Resource (M&I) is now estimated at 6.4 million tonnes (Mt) at 3.0% Copper Equivalent (CuEq), containing 193,000 tonnes (kt) CuEq, and an Inferred Mineral Resource of 8.5 Mt at 3.5% CuEq, containing 295 kt CuEq [4][14]. - The M&I resources have increased by 78% since the last estimate, providing a strong foundation for updated economic studies [4][22]. - The initial high-grade resource at the new Golden Eye deposit includes 91,000 ounces (koz) at 5.6 grams per tonne (g/t) AuEq in the Indicated category and 182 koz at 4.6 g/t AuEq in the Inferred category [4][7]. Group 2: Economic Potential - The updated MRE will support an updated Scoping Study/Preliminary Economic Assessment (PEA), which is expected to enhance the project's economics by incorporating current commodity prices and costs [10][22]. - The Chibougamau Project benefits from established infrastructure, including a 900,000 tonnes per annum (ktpa) processing facility, which is the only base metal processing facility within a 250 km radius [10][21]. - The project has demonstrated excellent metallurgy with recoveries of up to 98.2%, producing high-quality copper concentrate [4][10]. Group 3: Exploration and Development Strategy - Cygnus has completed 17,183 meters of drilling since acquiring the Chibougamau Project, with ongoing drilling expected to further increase the resource base [6][26]. - The company is utilizing an AI-driven solution for compiling historic drill logs and maps, which has proven effective in identifying new drill targets [8][21]. - Future drilling will focus on known deposits and extensions to known mineralization, aiming to unlock the potential of this historic district through low-risk exploration [21][22].
Cygnus reports a 78% increase in M&I resource at its Chibougamau Copper-Gold Project
Globenewswire·2025-09-17 00:42