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Capricorn Metals Ltd.
Summary
| Project: | Karlawinda | |
|---|---|---|
| Deposit: | Bibra | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 1/25/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 25-1-2018: Capricorn Metals Ltd. announces an Exploration/Drilling Update report for its Bibra deposit at the Karlawinda project. Drilling results incl. 14m @ 1.63g/t Au from 184m. Capricorn Metals Limited (ASX: CMM) is pleased to announce that it has del | |
| Resources: | (Resource, Total): 38.3Mt @ 1.1g/t Au for 1.326Moz contained at Bibra | |
| CP/QP: | [Overall Report]: Peter Langworthy (Internal) | |
| ABSTRACT: | Capricorn Metals Limited (ASX: CMM) is pleased to announce that it has delineated a significant new zone of shallow gold mineralisation over a strike length of at least 600m from recent Reverse Circulation (RC) and aircore (AC) drilling at the Tramore prospect, located ~600m south of the current 1.3 million ounce1 Bibra Gold Deposit within its 100%-owned Karlawinda Gold Project in WA (Figure 1) This drilling program is part of a broader exploration initiative that was focused on the continued rapid expansion of the large-scale Bibra Gold Deposit and as also designed to test multiple high-priority prospects over 10km of known prospective stratigraphy (Figure 2). The new discovery represents a significant breakthrough for the Karlawinda Gold Project, with follow up drilling underway. A total of 53 RC holes (6,500m) and 83 aircore holes (5,100m) were completed during NovemberDecember 2017. Additional results from the other key targets will be reported as they become available. A program of three RC holes and 53 aircore drill holes was completed to test the southern extensions of the Bibra Gold Deposit and the Main Footwall Lode. A traverse of RC drilling was completed approximately 600m south of the current Bibra Mineral Resource to test a large modelled magnetic anomaly where previous drilling had intersected significant gold mineralisation. This target is referred to as the Tramore Prospect. (see Appendix 2 for details). | |
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