The Gold Road - Cygnus Gold JV tenements cover an area of more than 5,000 square kilometres.
These tenements are located along the Yandina Shear, a largely unexplored regional structure interpreted to control the location of gold deposits such as Tampia, Griffin’s Find and Lake Magenta.
Gold Road - Cygnus Gold JV projects
Lake Grace JV
The current focus of the ~800 square kilometre Lake Grace JV is the Hammerhead prospect, a target identified from regional aircore drilling of a zone of surface gold anomalism coincident with the prospective Yandina Shear Zone.
Recent aircore (AC) drilling at the Hammerhead prospect returned additional widespread, anomalous gold including 3 metres at 0.35 g/t gold from 52 metres and 6 metres at 0.28 g/t gold from 56 metres to the end of the hole.
These intersections are associated with widespread anomalous gold pathfinder elements such as arsenic, copper, and molybdenum, and are in addition to the results reported in July 2019.
Anomalous gold and pathfinder anomalism have now been returned from four of the eight broad spaced drill lines through transported cover over nearly 15 kilometres strike length of interpreted greenstone rocks at Hammerhead.
Wadderin and Yandina JVs
In addition to ongoing targeting at Hammerhead, exploration activity has included regional targeting on the Wadderin and Yandina JVs, which has identified a number of high priority targets for drill testing.
The JV is now planning a program to extend and infill the AC drill coverage at Hammerhead as well as deeper reverse circulation (RC) drilling under the best results to date.
The AC program will include first pass traverses across the higher priority Wadderin and Yandina targets.
These programs are planned to commence immediately post-harvest in late Q4.
Hammerhead prospect is a focus area
Cygnus managing director James Merrillees said: “Even though early stage, the Hammerhead prospect is now a focus area on the Lake Grace JV where drilling programs are planned to commence over the coming months.
“Other targets on the Wadderin and Yandina JVs fill a pipeline of joint venture funded projects to be tested over the coming 6-12 months.
“I’d like to thank our partners Gold Road and acknowledge their support as we aim to emulate their success at Yamarna in the Southwest, an equally underexplored area within the prolific Yilgarn Craton.”