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Capricorn Metals Ltd.
Summary
| Project: | Karlawinda | |
|---|---|---|
| Deposit: | Bibra | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 1/16/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-1-2017: Capricorn Metals Ltd. announces an Exploration/Drilling Update report for its Bibra deposit at the Karlawinda project. Drilling results incl. 6m @ 5.4g/t Au from 126m. 16th January 2017: Capricorn Metals Ltd (ASX: CMM) is pleased to report the | |
| Resources: | (Resource, Inf.): 25.5Mt @ 1.1g/t Au for 914000oz Au contained at Bibra | |
| CP/QP: | [Overall Report]: Peter Langworthy (Internal) | |
| ABSTRACT: | 16th January 2017: Capricorn Metals Ltd (ASX: CMM) is pleased to report the latest results from the resource in-fill drilling program at its 100%-owned Karlawinda Gold Project near Newman in WA (Figure 1). The results continue to confirm the scale, quality and continuous nature of the mineralisation at the Bibra Deposit. The latest drilling results confirm the continuity and consistency of the Main Hanging Wall gold mineralisation in the southern area of the Bibra Deposit. In addition it confirms the presence of a distinct high-grade domain and very significantly, demonstrates impressive thickness and grade within the near-surface laterite-oxide domain. The drilling results continue to confirm that the Bibra Deposit is a highly continuous, large-scale open pit mining opportunity which will underpin the Definitive Feasibility Study (“DFS”) on the Karlawinda Gold Project due for completion in the second quarter of next year. The resource drilling program has been the cornerstone activity for the fast-tracked DFS which includes approximately 60,000m of RC and diamond drilling both to expand and upgrade the classification of the Bibra Inferred Resource, which stands at 25.5Mt @ 1.1g/t Au for 914,000oz (see Appendix 1 for details). | |
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