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5.1¢ cygnus metals limited

CY5 General Discussion, page-347

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malibu_tan

2,372 Posts.

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29/05/23

15:08

Post #: 68017194
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Originally posted by tigerair: ↑

The Express Lithium Project covers a significant project area of 73.5km2 in the heart
of the James Bay Region and is host to several known pegmatite outcrops. The
Express Lithium Project is located approximately 12km southeast of Allkem’s
James Bay Deposit (ASX: AKE; 37.2Mt @ 1.3% Li2O)2
, 8km southeast of Brunswick
Exploration’s (TSX-V: BRW) Anatacau West Project3
, 15km northeast of Cygnus
Metals’ Pontax Lithium Project (ASX: CY5)
4 and is proximate to several other
significant lithium deposits (Figure 5).
High resolution aerial and satellite imagery over the Express Lithium Project has
been acquired and interpreted by Dahrouge Geological Consulting (Dahrouge
Geological), the highly experienced geological consulting firm with many years of
experience exploring the James Bay region. Dahrouge Geological are a related
party of DG Resource Management, the vendor of the Express Lithium Project, who
previously identified, acquired and vended the Corvette Property to Patriot Battery
Metals (TSX-V: PMET, ASX: PMT).
The photo interpretation has revealed a significant area of outcrop within the
project area containing a substantial number of targets which are interpreted as
potentially representing outcropping lithium-bearing pegmatites. These
outcropping areas also include the historically mapped pegmatites on the project
area (refer ASX Announcement 15 March 2023).
Four high priority targets have been defined covering areas with the greatest
proportion of interpreted outcrop as well as the largest concentration of
interpreted pegmatite targets. These are ranked to have the greatest potential to
host lithium-bearing pegmatites. Target areas are shown on Figure 1, with Figures
2 and 3 showing these targets in detail.
Targets 1 and 2 are oriented WNW-ESE and Targets 3 and 4 are oriented NE-SW.
Both these orientations match the regional structural trend at Express, which
wraps around an intrusive body to the west of the Project. Target 1 is directly on
trend with lithium-bearing pegmatites at the Anatacau West Project (Brunswick
Exploration; TSX-V: BRW) and Target 4 is directly on trend with lithium bearing
pegmatites at the Pontax Project (Cygnus Metals; ASX: CY5).
2 Probable Ore Reserve of 37.2Mt @ 1.3% Li2O, See Allkem (ASX: AKE) ASX Feasibility Study announcemen

Expand

Yes, REC seem to be moving fast. Their targets are mostly on the gneisses but they do have a lower target on land that is interpreted to be greenbelt (even though it's blue and not green). I'm glad you mention it bc it gives me a chance to highlight that the blue between Pontax's greenbelt and the pink granites on the left can also (I'm told by a very reliable source) be interpreted as greenstone, so CY5 have a much bigger interface of the greenstone and pink at Pontax (which is good IMO).

REC may get lucky. I just remember that all the economic mines in WA are on greenstone and so the odds of finding lithium on greenstone is higher.

Last edited by malibu_tan: 29/05/23

CY5 Price at posting: 21.0¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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