Cygnus Hits Gold in All 9 First-Pass Holes at Gwillim, Canada, Including High-Grade Intercepts

en.Wedoany.com Reported - On August 27, Cygnus Metals announced results from the first drilling program at the Gwillim gold project in Quebec, Canada, with all 9 drill holes intersecting gold mineralization. The program totaled 2,708 meters, primarily targeting historical high-grade zones and testing down-dip extensions to the east along the mineralized body. Hole GWL-26-05 returned 13.5 meters at 8.0 g/t gold from 19.5 meters downhole; hole GWL-26-01 intersected 3.1 meters at 20.8 g/t gold, including 0.4 meters at 108 g/t.

Among the other holes, GWL-26-03 returned 9.4 meters at 4.5 g/t gold, GWL-26-02 returned 8.6 meters at 3.5 g/t gold, GWL-26-08 returned 6.1 meters at 4.3 g/t gold, and GWL-26-09 intersected 30 meters at 1.7 g/t gold, including two 8-meter intervals grading 2.4 g/t and 2.3 g/t, respectively. The company reported that all drill intercepts are downhole lengths, with estimated true thicknesses ranging from 70% to 90% of downhole widths.

Gwillim has previously recorded multiple high-grade historical drill intersections, including 7.6 meters at 38.1 g/t gold, 15.2 meters at 9.4 g/t gold, and 16.4 meters at 8.3 g/t gold. The latest drilling results, combined with historical data, will be used to support the development of Gwillim's maiden Inferred Mineral Resource estimate. Current longitudinal sections indicate that the mineralized body remains open along dip. Cygnus also confirmed a correlation between high-grade mineralization and pyrrhotite-rich structures, and future drilling will consider the use of downhole electromagnetic surveys (DHEM) to assist in target definition.

Gwillim is held 50/50 by Cygnus and Alamos Gold, with Alamos Gold co-funding this initial drilling program. The project is located within the Chibougamau copper-gold project area, approximately 14 kilometers from the central milling facility. The historical Gwillim mine operated during the 1970s and 1980s, producing approximately 39,000 ounces of gold at an average grade of 4.8 g/t.

Following the release of the latest results, Cygnus has mobilized the drill rig from Corner Bay back to Gwillim to conduct a short additional drilling campaign, after which the rig will be moved to Copper Rand. The company's current Chibougamau mineral resource inventory includes Corner Bay, Devlin, Joe Mann, Cedar Bay, and Golden Eye; Gwillim is not yet included in the current resource estimate.