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Capricorn Metals Ltd.
Summary
| Project: | Karlawinda | |
|---|---|---|
| Deposit: | Karlawinda | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 4/17/2020 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 17-4-2020: Capricorn Metals Ltd. announces a Resource Estimation report for its Karlawinda deposit at the Karlawinda project. Updated Mineral Resource Estimate for Project. The Capricorn Board is pleased to announce that recent drilling at both Bibra and | |
| Resources: | (Reserves, P+P): 43.5Mt @ 0.9g/t Au | |
| CP/QP: | [Resources]: Jarrad Price (Internal) | |
| ABSTRACT: | The Capricorn Board is pleased to announce that recent drilling at both Bibra and Tramore deposits has contributed to a significant increase in KGP Ore Reserves to 1,201,000 ounces. Inhouse open-pit optimisations helped to target the drilling areas that would likely result in increased Ore Reserves through conversion of Inferred resources to Indicated. The KGP JORC compliant Ore Reserves estimate updated to 43.5 million tonnes at 0.9g/t gold for 1,201,000 ounces compared with the May 2018 estimate of 27.6 million tonnes at 1.0g/t gold for 892,000 ounces. This is a 309,000 ounce (35%) increase. The Board is also pleased that the updated estimate is a robust Ore Reserve that will maximise mining efficiency The recent drilling has also contributed to a significant increase in the KGP Mineral Resource Estimate to 2,145,000 ounces. The KGP JORC compliant MRE updated to 86.7 million tonnes at 0.8g/t gold for 2,145,000 ounces compared to the May 2018 estimate of 51.0 million tonnes at 0.9g/t gold for 1,525,000 ounces. This is a 620,000 ounce (41%) increase. | |
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