Cygnus’ Bencubbin tenement ~220km northeast of Perth, is centred on a 10km long section of the Bencubbin Greenstone Belt.
The initial focus at Bencubbin is the Jefferies gold prospect, where previous explorers defined a ~3.5km long auger gold anomaly with assay values up to 566ppb Au broadly coincident with a contact between the greenstone belt and a granite intrusion1.
Historical exploration at Jeffries also reported rock chip assays up to 12.9g/t Au and wide, anomalous gold intercepts in shallow drilling including:
• 12m @ 2.15g/t Au from surface in hole NM2R-1131
• 13m @ 0.62g/t Au from 42m to EOH,
o including 2m @ 3.36g/t Au from 52m in hole NM2R-0141.
Despite these encouraging results, the Jefferies prospect remains underexplored and, apart from generally shallow air core and RAB drilling, has only been tested by two diamond and 14 RC holes.
In addition, the potential for the gold mineralisation at Jefferies to extend further towards the south and southwest, along the interpreted granite-greenstone contact, remains to be drill tested.
Note 1: Information on historical results, including JORC Code Table 1 information, is contained in the Independent Technical Assessment Report within Cygnus’ Prospectus dated 22 November 2017. Cygnus is not aware of any new information or data that materially affects the information included in the Prospectus.