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Capricorn Metals Ltd.
Summary
| Project: | Karlawinda | |
|---|---|---|
| Deposit: | Easky | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/9/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 9-12-2016: Capricorn Metals Ltd. announces an Exploration/Drilling Update report for its Easky deposit at the Karlawinda project. Drilling results incl. 8m @ 2.1g/t Au from 93m. 9th December 2016: Capricorn Metals Ltd (ASX: CMM) is pleased to advise that | |
| Resources: | (Resource, Inf.): 25.5Mt @ 1.1g/t Au for 914000oz Au contained at Bibra | |
| CP/QP: | [Overall Report]: Peter Langworthy (Internal) | |
| ABSTRACT: | 9th December 2016: Capricorn Metals Ltd (ASX: CMM) is pleased to advise that it has received highly encouraging assay results from the first drill-holes completed at the Easky satellite gold prospect, located 500m south-west of the Bibra deposit at its 100%-owned Karlawinda Gold Project near Newman in WA (Figure 1). Easky is one of several near-mine exploration targets which were tested as part of the recently completed resource in-fill and extensional drilling campaign at Karlawinda. The DFS in-fill and exploration drilling program, which included 72,500m of Reverse Circulation and 5,000m of diamond drilling, has now been completed. Many assay results are still outstanding and are expected to continue to flow through December and January. The recent drilling, building on historical drilling results, has strengthened the potential for a significant satellite deposit at Easky. Together with other emerging near-mine prospects and extensional opportunities such as the Portrush Prospect and the Southern Corridor, these exploration targets have potential to add to the resource inventory at Karlawinda. 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. It has a currently reported resource of 25.5Mt @ 1.1g/t Au for 914,000oz (see Appendix 1 for details), which is expected to be upgraded in the March 2017 Quarter. | |
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