Cygnus Metals Limited (ASX:CY5) has obtained more high-grade assays from recently completed air core and auger drilling at the Bencubbin Rare Earths Project in WA.
During July, the company completed an additional 63 air core drill holes and 96 auger holes in the north-east of the Bencubbin Project (800 sq. km) to expand the drill coverage and test the scale of REE enrichment across a major granitic body. Recent results have returned some of the thickest and high-grade results to date in a thick clay profile which is mineralised from the near surface. Recent results include:
These results are in addition to the previously reported assays (refer ASX releases dated 7 and 20 June 2023) which include:
Results from air core drilling has significantly increased the scale of mineralisation by almost doubling the known strike length to now cover 4.5km, which remains open. Importantly, the mineralisation continues to demonstrate consistent near-surface grades in association with the magnetic margin of a major granitic body believed to be the potential source of mineralisation.
Results from auger drilling across the greater project area have successfully identified widespread anomalism over 22km with all auger lines returning grades of >500ppm TREO with up to 1,686ppm TREO intersected over two km from the nearest drill hole. Results of >500ppm in the top 1-3m is highly anomalous and indicates the rare earth system is much larger than the current area that has been drilled with air core.
Follow-up air core drilling is pending final government approval and is designed to test for scale, including and beyond the 22km long auger anomaly defined along the magnetic granite margin. The regional program has been designed with 100m spaced holes over 3.5 – 4.5 km spaced lines and will enable Cygnus to test the potential scale of a REE resource at Bencubbin.
Metallurgy is planned to be completed through industry leader ANSTO Minerals, the Australian Nuclear Science and Technology Organisation, which has extensive experience in REE processing. An initial project has been developed through ANSTO to test the leachability of the rare earth elements and other critical metal by-products such as gallium (Ga) and scandium (Sc). Initial results are expected to take 16 weeks from reciept of samples at ANSTO in Sydney.
These are the latest in a string of highly promising rare earths results at Bencubbin. It is still early days in the discovery but we can see the project has significant potential and that’s why we are about to start metallurgical tests. While our clear focus remains on lithium in James Bay, Quebec, we are going to pursue Bencubbin with the aim of establishing its true full value,” Managing Director, David Southam, said.
“Our small dedicated Australian team will now focus on some follow-up air core drilling while samples are being sent for very important metallurgical test work.”