Cygnus Metals (ASX:CY5) subsidiary, CBay Minerals, received conditional approval for up to CA$1.3 million in pre-construction funding from Canada's Critical Minerals Infrastructure Fund for its proposed mining operations in Quebec, according to a Friday filing with the Australian bourse.
Coverage includes a feasibility study and environmental and social impact assessment for key infrastructure through the mines, mining camp, and processing facility for the company's Chibougamau copper-gold project.
The funding is still subject to final due diligence and the execution of a definitive contribution agreement, per the filing.
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