Key Highlights
- Central Asia Metals will mark its Toronto Stock Exchange listing with an opening-trading ceremony in Toronto.
- The company outlined a planned Chibougamau drilling campaign of up to 70,000 metres through 2027.
- An updated mineral resource estimate is scheduled for completion in the third quarter of 2027.
Central Asia Metals PLC (AIM, TSX: CAML) said its Chief Executive Officer Gavin Ferrar will formally open trading on the Toronto Stock Exchange in Toronto on Nov. 13, marking the company’s recent listing on the TSX.
The company linked the TSX listing to its acquisition of Cygnus Metals Ltd and Cygnus’ flagship Chibougamau copper-gold project in Québec, which Central Asia Metals said was completed on Oct. 27, 2026. It said the listing is intended to give North American investors, including former Cygnus shareholders, easier access to trading in Central Asia Metals shares.
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Chibougamau work programme and timing
Central Asia Metals said its senior management recently completed a week-long technical workshop at the Chibougamau project with the project team and consultants to prioritise upcoming work.
The company said it has secured three drilling rigs for an exploration programme, with one rig already on site and two more expected to arrive before the end of November. It said the additional rigs are expected to support winter exploration by enabling timely construction of ice pads.
Central Asia Metals said the first half of 2027 is expected to focus on exploration drilling at the Corner Bay, Golden Eye and Cedar Bay deposits, with the second half of 2027 expected to shift toward infill drilling intended to upgrade resources from inferred to indicated at Corner Bay, Golden Eye, Cedar Bay and Devlin.
In the second quarter of 2027, the company expects a fourth drilling rig to join the campaign for geotechnical studies and metallurgical test work to support a future definitive feasibility study. Central Asia Metals said the overall drilling programme is expected to total up to 70,000 metres through the end of 2027.
Central Asia Metals also said it plans to run an electromagnetic geophysical programme over frozen lakes in its licence area during winter, continue baseline environmental work and preparatory work for an environmental and social impact assessment, and carry out site clearance and restoration work ahead of a future rehabilitation and modernisation of the Copper Rand brownfields site.
Resource estimate and economic study targets
Central Asia Metals said results from the planned exploration drilling are expected to be incorporated into an updated mineral resource estimate scheduled for completion in the third quarter of 2027. It referenced a previous mineral resource estimate published by Cygnus in late 2025 of 6.4 million tonnes measured and indicated at 2.3% copper, 0.8 g/t gold and 7.6 g/t silver, plus 8.5 million tonnes inferred at 2.1% copper, 1.7 g/t gold and 7.9 g/t silver.
The company said it is also undertaking a preliminary economic assessment with an expanded scope, based on the current mineral resource estimate, and has retained Ausenco to lead a team of consultants. Central Asia Metals expects the preliminary economic assessment to be completed in mid-2027.
Central Asia Metals said it owns 100% of the Kounrad SX-EW copper operation in central Kazakhstan, 100% of the Sasa zinc-lead mine in North Macedonia and 100% of the Chibougamau copper-gold project in Québec.
The original press release is available on stockhouse.com
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