Cygnus Gold (ASX:CY5) has appointed two ‘highly experienced’ lithium experts to help drive the exploration and development strategy at its Pontax Lithium Project in James Bay, Canada.
Pontax is located in the tier-one lithium jurisdiction of James Bay, which hosts Patriot Battery Metals’ new lithium discovery, Corvette lithium project and several other ‘world-class’ lithium deposits.
Gareth Reynolds has been appointed as head of business development and Mark Calderwood as board advisor.
Mr Reynolds is a geologist with more than 18 years’ experience having held senior positions at major lithium projects including Bald Hill, Wodgina, and Mt Marion Lithium projects.
His previous roles include chief Exploration geologist for Sociedad Química y Minera (SQM) identifying and assessing lithium projects for acquisition in Western Australia and abroad; exploration manager for Tawana Resources undertaking a lead role in the development and implementation of the exploration program which defined the 26M tonne+ lithium deposit at Bald Hill; and senior geologist for Mineral Resources.
Mr Calderwood has more than 30 years’ experience in exploration and production. He has played key roles in the discovery of several ‘world-class’ gold deposits including Edikan (Perseus), Kibali (Barrick-AGA), and Tarmoola (King of the Hills) in Western Australia.
His previous roles include CEO of Perseus Mining, where he led the company from a micro-cap explorer to a $1.6 billion, ASX-100 gold producer. Mr Calderwood also has experience with lithium exploration and mine development and is a co-author of a guidebook to the pegmatites of Western Australia.
Addressing the appointments, Cygnus Executive Director Michael Naylor said: “Securing the services of two such highly regarded lithium experts is an exceptional outcome for Cygnus.
“Securing the services of two such highly regarded lithium experts is an exceptional outcome for Cygnus”
We know we have an outstanding asset in a world-class lithium location. To have Gareth and Mark advising us will ensure we unlock the full value of this opportunity.
They have both reviewed Pontax and their desire to join us speaks volumes about the project’s immense potential. Their appointments come at the perfect time given we are about to embark on an extensive exploration program aimed at creating significant value in a timely manner.
We have already commenced early-stage geophysics and imagery. This will be followed by field mapping which will enable us to identify potential additional lithium outcrops in addition to the 620m-long pegmatite already established at Pontax.
The entire 10km prospective strike length has never been systematically explored and there is immense potential to uncover further pegmatites within the project area.
This will all culminate in a 10,000m drilling program across the main outcrop and regional targets commencing in the coming quarter.”
The Pontax Lithium Project is host to numerous pegmatite swarms with the only explored swarm being Central Pontax which outcrops over 620m of strike and remains open along strike and at depth.
There are untested pegmatite outcrops north of the central outcrop that have never been drilled and multiple targets for follow up drilling.
To date 25 diamond drill holes for ~3,286m have been completed at the project with drilling entirely focussed upon the known extent of the outcrop.
Images: Cygnus Gold Limited
