Cygnus Metals announcement overview

Cygnus Metals Limited (ASX: $CY5) has announced the identification of numerous walk-up exploration targets surrounding the recent intersection of 43.7m @ 1.15% Li2O at the Auclair Lithium Project in James Bay, Quebec. This marks the first-time interpretation of LiDAR and orthophotography in an area known to host blind pegmatites concealed by vegetation cover. Prospecting is set to begin next month, with drilling scheduled to commence in June.

Executive commentary on the announcement

With so many new targets, recent results of up to 43.7m @ 1.15% Li2O and prospecting imminent, Cygnus is perfectly positioned to unlock huge value at Auclair. This will be first boots back on the ground since the discovery of Pegasus and Lyra late last year. Use of LiDAR, orthophotography and magnetics is fundamental to our process of exploration in this terrane with proven blind pegmatites under vegetation. Auclair clearly has the potential to host a significant lithium system and we look forward to unlocking this through the season with prospecting followed by drilling.

Summary of Cygnus Metals announcement

Cygnus Metals has identified compelling lithium targets surrounding the recent intersection of 43.7m @ 1.15% Li2O at the Auclair Lithium Project. The use of LiDAR and orthophotography has revealed numerous walk-up exploration targets, indicating immense exploration upside at Auclair. The company has also highlighted the significant scale and grade indicative of a major lithium system with potential for a substantial tonnage resource. With prospecting set to commence and drilling scheduled to follow, Cygnus is poised to unlock the substantial potential of the Auclair Project. The company's recent successes and the identification of extensive targets demonstrate the significant lithium system potential and the exciting prospects for future exploration and development in the area.