THE DRILL SERGEANT: Cygnus Gold (ASX:CY5) extended nickel anomalism on the back of further results from soil sampling over the Bencubbin North nickel and base metals prospect within the company’s wholly owned Bencubbin project in the Wheatbelt region of Western Australia.
Cygnus Gold completed an additional 267 auger soil samples it claims to have extended its original nickel auger soil results noting the nickel anomalism is associated with widespread copper and PGE anomalism.
The company reported that a total of 74 samples assayed for PGEs were also anomalous, with maximum values of palladium (Pd) of 44.4ppb (associated with 5.5ppb Platinum) and maximum platinum of 11.8ppb (with 35ppb Pd).
Cygnus Gold explained that similar levels of PGE anomalism in soils are commonly associated with mineralised nickel sulphide systems elsewhere in the WA Goldfields, which it considers demonstrates potential for magmatic nickel sulphides at Bencubbin.
“The Bencubbin nickel and base metals project is shaping up as a high priority asset for the company, with sampling confirming the prospectivity of the northern section of more than 70 kilometres of untested prospective stratigraphy,” Cygnus Gold managing director James Merrillees said in the company’s announcement to the Australian Securities Exchange.
“The company also acknowledges the WA Government awarding $150,000 in EIS funding towards drilling at Bencubbin.
“This recognises the technical merits of the project, as well as the underlying prospectivity of the WA Wheatbelt.”
With the surface sampling having extended the nickel-copper and copper-lead-zinc prospectivity at Bencubbin North, outlining widespread PGE anomalism consistent with potential for magmatic nickel-copper sulphide mineralisation, Cygnus Gold declared it intends carrying out infill sampling to refine targets for drill testing with sampling to commence on the highest priority targets in the middle of this month.
Cygnus is also planning to commence sampling on the Bencubbin South tenement over extensions of the Bencubbin Greenstone as well as further sampling of the Mandiga Trend, located at the southern end of Bencubbin North project, which it considers highly prospective for base metals.
Drilling is planned in the second half of the year once it has received and interpreted these results.