Cygnus Metals has announced Nick Kwong as its new chief executive officer as the company gears up to focus on resource growth and exploration expansion.
Kwong will take over as chief executive officer (CEO) of the company on December 12, a promotion from his previous role as chief operating officer (COO), following the transition of Ernest Mast from managing director to non-executive director.
The new CEO holds a mining engineer resume with experience in leading operations, feasibility studies and mine building activities over the past 20 years.
Since 2022, he has been the COO of the company’s flagship Chibougamau project in Canada, working extensively with Mast in that role.
He was previously the general manager of two gold mines at Maaden in Saudi Arabia and held several roles within New Gold Inc for 14 years, including his final role as director of technical services.
Kwong will lead a preliminary economic assessment (PEA) of the high-grade Chibougamau copper-gold project – located in Central Quebec – to be conducted with independent consultants Ausenco. The PEA will incorporate updated mineral resource estimates and grade improvements, the addition of a high-grade golden eye deposit, and improved commodity price environment in copper, gold and silver.
Alongside its Canadian projects, Cygnus holds about 1750 square kilometres of granted tenements across several under-explored greenstone belts in Western Australia, all 100 per cent owned by the company and prospective for lithium, rare earth elements (REEs), nickel, copper, platinum group elements (PGEs) and gold.
Its key projects include the Bencubbin rare earth elements project, which features a thick, consistent clay profile over REE-enriched granite; and the nearby Bencubbin lithium project, covering 70 kilometres of the greenstone belt with targets for lithium, nickel, copper and gold.
Other assets include the Snake Rock and Julimar East projects, both prospective for nickel, copper, gold and PGEs, as well as the Panhandle project, which covers 13 kilometres of greenstone belt prospective for LCT pegmatites, and the Bonnie Rock project, host to outcropping silver–lead–zinc skarn mineralisation with associated gold.
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