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Capricorn Metals Ltd.
Summary
| Project: | Karlawinda | |
|---|---|---|
| Deposit: | Bibra | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/3/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 3-8-2017: Capricorn Metals Ltd. announces an Exploration/Drilling Update report for its Bibra deposit at the Karlawinda project. Drilling results incl. 28m @ 1.47g/t Au from 65m. Capricorn Metals Ltd (ASX: CMM) is pleased to advise that an extensive explo | |
| Resources: | (Resource, I+I): 31.3Mt @ 1.1g/t Au for 1.114Moz Au contained at Bibra | |
| CP/QP: | [Overall Report]: Peter Langworthy (Internal) | |
| ABSTRACT: | Capricorn Metals Ltd (ASX: CMM) is pleased to advise that an extensive exploration program undertaken in recent months at the Company’s 100%-owned Karlawinda Gold Project in Western Australia has delivered several important breakthroughs and advancements for the project. Importantly, drilling of two key near-mine prospects located immediately adjacent to the 1.1Moz Bibra Deposit1 (Portrush and Easky), has expanded these positions with the results to be incorporated into a revised Mineral Resource inventory for the Project expected in late 2017. At the same time, a re-evaluation of the structural geology and regional potential of the Karlawinda Greenstone Belt has been completed. This study, based on knowledge gained from recent drilling combined with extensive existing geological data, has significantly upgraded the broader potential of the belt and has identified a number of regional exploration targets with excellent potential for largescale gold mineralisation systems. Recently completed drilling and a program of detailed geological evaluation and interpretation confirm the extensive nature of the mineralised system at Bibra and the potential to increase resources with additional drilling, both near surface and at depth. This recent work has led to a significantly improved understanding of mineralsation controls at Bibra and can be potentially applied elsewhere in the project area. At Bibra, mineralisation is shoot-controlled along a series of dominant low-angle, north-east trending mineralised faults that combine to make up a very large-scale mineralised system. These faults can now be predicted and delineated, and a review of previous drilling clearly suggests that significant strike lengths of each structure have only been partially tested or remain untested (Figure 2). | |
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