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Capricorn Metals Ltd.
Summary
| Project: | Karlawinda | |
|---|---|---|
| Deposit: | Karlawinda | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/7/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 7-8-2017: Capricorn Metals Ltd. announces a Resource Estimation report for its Karlawinda deposit at the Karlawinda project. Karlawinda project Initial ore reserve statement. Capricorn’s Executive Chairman, Heath Hellewell, said “The release of the maiden | |
| Resources: | (Reserve, Prob.): 21Mt @ 1.06g/t Au for 0.713Moz Au contained at Karlawinda | |
| CP/QP: | [Overall Report]: Michael Martin (Internal) | |
| ABSTRACT: | Capricorn’s Executive Chairman, Heath Hellewell, said “The release of the maiden Ore Reserve for the Karlawinda Gold Project is the culmination of many months of dedicated work by our team.” “This Ore Reserve provides us with the confidence that the Bibra Deposit will form the basis for the development of the Karlawinda Gold Project in the near term.” “We look forward to releasing the results of the Feasibility Study in September which we expect will show Karlawinda to be an economically robust project.” The Company is pleased to provide the maiden JORC 2012 compliant Ore Reserve estimate of 21 million tonnes @ 1.06g/t Au for 713,000 ounces for the Bibra Deposit at the Karlawinda Gold Project, which is based on the updated 2017 Mineral Resource estimate (ASX release 10 April 2017) of 31 million tonnes @ 1.1g/t Au for 1.114 million ounces. The Ore Reserve is contained within a detailed, staged open pit design (Figure 1) with a stage one stripping ratio of 2.9:1 and a life of mine (LOM) stripping ratio of 4.7:1 (Table 2). The stage one pit shells contain predominantly laterite and oxide mineralisation. The Karlawinda Gold Project is located in the Pilbara region of Western Australia, 70km by road southeast of the town of Newman (Figure 3). Karlawinda is an advanced gold project which includes the Bibra deposit and numerous outstanding exploration targets including the Francopan prospect. The Project covers a total area of approximately 1,419km2. | |
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