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Capricorn Metals Ltd.
Summary
| Project: | Karlawinda | |
|---|---|---|
| Deposit: | Bibra | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/13/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 13-11-2017: Capricorn Metals Ltd. announces a Resource Estimation report for its Bibra deposit at the Karlawinda project. Mineral Resource update includes 20% increase in Au ounces. Capricorn Metals Limited (ASX: CMM) is pleased to advise that it is conti | |
| Resources: | (Resource, Total): 38.3Mt @ 1.1g/t Au for 1.326Moz contained at Bibra | |
| CP/QP: | [Resources]: Michael Martin, Peter Langworthy (Internal) | |
| ABSTRACT: | Capricorn Metals Limited (ASX: CMM) is pleased to advise that it is continuing to achieve significant growth in the gold resource inventory at its 100%-owned Karlawinda Gold Project in WA (Figure 1) after delivering substantial increase in the JORC 2012 Mineral Resource, which now stands at over 1.3 million ounces of gold. Following the incorporation of recent resource drilling data and the application of high confidence mine operating cost estimates directly derived from the recently completed Feasibility Study (“FS”), the total Measured, Indicated and Inferred Mineral Resource has increased to 38.3 million tonnes grading 1.1g/t Au for 1,326,000 ounces of contained gold. This represents a 20% increase from the April 2017 Mineral Resource and a 100% increase since Capricorn acquired the Project in early 2016 (see Tables 1 and 2). Capricorn’s Executive Chairman, Heath Hellewell, said: “At Karlawinda, the Bibra deposit continues to reveal itself as part of a very significant Archaean gold system. We continue to achieve outstanding success in growing the resource base at a very low discovery cost per ounce. Since acquiring the Project at the beginning of last year, we have now doubled the resource base and improved our understanding of the controls on mineralisation. We are very well placed to deliver further significant increases in the Project’s resources with drilling in the coming months. “We recently reported the results of our Feasibility Study which confirms the robust economics of the Karlawinda Gold Project and supports the development of a significant new Western Australian gold mine. That view is clearly enhanced by the delineation of these additional resources that we anticipate will result in a material increase in the reserve in the near term. We expect that our exploration efforts both near-mine and regionally will continue to deliver on the Project’s growth potential and significantly extend the mine life. | |
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