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Capricorn Metals Ltd.
Summary
| Project: | Karlawinda | |
|---|---|---|
| Deposit: | Southern Corridor, Bibra | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 2/8/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 8-2-2018: Capricorn Metals Ltd. announces an Exploration/Drilling Update report for its Southern Corridor, Bibra deposit at the Karlawinda project. Drilling results incl. 1m @ 66.7g/t Au from 112m. Capricorn Metals Limited (ASX: CMM) is pleased to announc | |
| Resources: | (Resource, Total): 38.3Mt @ 1.1g/t Au for 1.326Moz contained at Bibra | |
| CP/QP: | [Overall Report]: Peter Langworthy (Internal) | |
| ABSTRACT: | Capricorn Metals Limited (ASX: CMM) is pleased to announce that all results from a successful RC and aircore drilling program that tested a series of highly prospective targets at the Company’s 100%-owned Karlawinda Gold Project in WA (Figure 1) have now been received. This drilling program is part of a broader exploration initiative that is focused on the continued rapid expansion of the large-scale 1.3 million ounce1 Bibra Gold Deposit and the testing of multiple high-priority prospects over 10 kilometres of known prospective mine sequence stratigraphy (Figure 2). A total of 53 RC holes (6,500m) and 83 aircore holes (5,100m) were completed during NovemberDecember 2017 (See Tables 1-3 for details). These drilling programs were targeted to identify significant extensions to the Bibra mineralised system and to provide an initial test of a series of new targets (Figure 3). The extensions to the Bibra Gold Deposit have the potential to lead to significant growth of the resource position and a subsequent expansion of the reserve. The Southern Corridor Inferred Resource is currently estimated at 2.4 million tonnes @ 1.1g/t Au for 81Koz gold. (Figure 3). The aim of this infill drilling program was to upgrade the resource classification to the higher confidence Indicated and Measured categories. This will then enable the resource to potentially be included in the Ore Reserve estimation process. All drilling was undertaken with 600 angled holes and these intersections are interpreted to approximate to true width (Figure 4). Drilling is now at a density of 25m x 50m. Significantly, the results demonstrate the potential for higher-grade domains to be delineated with a closer spaced drill pattern. Key results include: | |
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