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Capricorn Metals Ltd.
Summary
| Project: | Karlawinda | |
|---|---|---|
| Deposit: | Castle Rock | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/31/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 31-10-2019: Capricorn Metals Ltd. announces an Exploration/Drilling Update report for its Castle Rock deposit at the Karlawinda project. Drilling results incl. 14m @ 0.78g/t Au from 154m. Capricorn is developing the Karlawinda Gold Project (KGP) located 6 | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Micheal Martin (Internal) | |
| ABSTRACT: | Capricorn is developing the Karlawinda Gold Project (KGP) located 65 km south-east of Newman in the Pilbara region of Western Australia. Current Mineral Resources at KGP are estimated at 1.52m ounces of gold, including open pit Ore Reserve of 0.89m ounces1. During the September 2019 quarter, the Company continued exploration and development activities as detailed below. During the quarter work commenced to review and optimise development and operating parameters for the KGP. This review includes processing plant flow sheet, mining studies and key operating contracts. This work is aimed at commencing development of the project in the March 2020 quarter with a target for first gold production in the March 2021 quarter. It is expected that an update as to development and operating parameters will be provided in the December 2019 quarter. The transport to site of a 306-room accommodation village and mining services infrastructure (purchased March 2019), was completed in the September 2019 quarter. During the quarter the pad for the accommodation village was cleared and full installation of the village is expected to commence in the December 2019 quarter. The installation of a 36 room early construction camp was completed during the quarter. | |
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