Cygnus Gold (ASX: CY5) has identified a ‘significant’ pathfinder geochemical anomaly associated with lithium-bearing pegmatites following surface mapping at its Bencubbin Project in Western Australia.
The 2.2km-long anomaly, which remains open to the north, has reported peak values of up to 152ppm Li20, 26ppm Ta2O5, and 152ppm Nb2O5, with the company stating that the results support the potential for lithium-bearing pegmatites to exist within the South Western regolith environment.
Speaking on the results, Cygnus Gold’s Executive Director, Michael Naylor said: “The identification of pegmatites in surface mapping activities coincident with a significant geochemical pathfinder anomaly indicates a major new target for the Company at the Bencubbin Project.
“Given the large value currently being generated across the Lithium exploration industry, Cygnus is excited to find such encouraging indications in its early exploration efforts at Bencubbin”
Given the large value currently being generated across the Lithium exploration industry, Cygnus is excited to find such encouraging indications in its early exploration efforts at Bencubbin. The Southwest region is highly prospective for lithium-bearing pegmatites being host to probably the most well-known hard rock lithium mine in the world; Greenbushes.”
Cygnus also notes that field mapping activities conducted at the project have identified float and sub-cropping pegmatites that are coincident with the anomaly, with assays pending.
Map of Cygnus Gold tenure in relation to major projects including the Julimar PGE discovery and the Greenbushes lithium mineThe Bencubbin Project is located approximately 220km northeast of Perth within the Bencubbin Greenstone belt, and comprises a total 800km² footprint, with Cygnus Gold owning 100% of all tenements.
The project has been recognised for its nickel and base metals potential along the approximately 80km-long belt, and two additional tenements have been applied for to cover additional prospective ground.
The company notes that it will move forward with immediate follow-up auger work in order to evaluate the full extent of the target ahead of planned drill testing.
Images: Cygnus Gold Limited
