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Capricorn Metals Ltd.
Summary
| Project: | Karlawinda | |
|---|---|---|
| Deposit: | Bibra | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/16/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-12-2016: Capricorn Metals Ltd. announces an Exploration/Drilling Update report for its Bibra deposit at the Karlawinda project. Drilling results incl. 2m @ 9.3g/t Au from 218m. 16th December 2016: Capricorn Metals Ltd (ASX: CMM) is pleased to advise th | |
| Resources: | (Resource, Inf.): 25.5Mt @ 1.1g/t Au for 914000oz Au contained at Bibra | |
| CP/QP: | [Overall Report]: Peter Langworthy (Internal) | |
| ABSTRACT: | 16th December 2016: Capricorn Metals Ltd (ASX: CMM) is pleased to advise that it has confirmed the presence of a new, high-grade mineralised structure in the immediate footwall of the Bibra Gold Deposit at its 100%-owned Karlawinda Gold Project near Newman in WA (Figure 1). A recently completed Reverse Circulation drill hole (KBRC547) was drilled to a depth of 209m to test the up-dip extension of a high-grade intersection returned in previous drilling by IGO. Capricorn’s Managing Director, Mr Peter Thompson, said the latest drilling results clearly demonstrated the outstanding exploration upside at Karlawinda, including the significant potential to discover high-grade gold mineralisation. “This is the latest in a series of excellent exploration results we have now achieved in very close proximity to our flagship Bibra Resource. “The presence of multiple stacked gold lodes is a real positive for any emerging gold project, and the recent drilling clearly shows that we have a large-scale gold system with the opportunity to target high-grade zones that could add significant value to the project. “As we continue to explore around Bibra and across the wider Karlawinda Project we will continue to improve our understanding of the controls on and distribution of the mineralization, and we are confident that this will lead to additional quality discoveries.” | |
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