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Capricorn Metals Ltd.
Summary
| Project: | Karlawinda | |
|---|---|---|
| Deposit: | Tramore | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/31/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 31-7-2019: Capricorn Metals Ltd. announces an Exploration/Drilling Update report for its Tramore deposit at the Karlawinda project. Drilling results incl. 22m @ 1.37g/t Au from 155m. Capricorn is developing the Karlawinda Gold Project located 65 km south- | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Micheal Martin (Internal) | |
| ABSTRACT: | Capricorn is developing the Karlawinda Gold Project located 65 km south-east of Newman in the Pilbara region of Western Australia. Current Mineral Resources are estimated at 1.52m ounces of gold, including open pit Ore Reserve of 0.89m ounces1. During the June 2019 quarter, the Company continued exploration and development activities as detailed below. At the date of this report all of the planned 58 holes and 7,900 metres of drilling has been completed at Tramore. Assay results have been received for 38 holes, with the remaining assays expected to be received by mid-August. The recent drilling has returned encouraging results confirming the continuity of the Tramore mineralisation. The drill holes are shown in plan, on Figure 2 and in section, on Figures 3 to 5. Further details of the completed drilling are provided in Appendix 2. The Tramore mineralisation is hosted in both Archaean amphibolite and garnet-rich volcanoclastic sandstone. The higher-grade assays received define two high grade plunging shoots, associated with silica, carbonate, magnetite alteration and pyrite mineralisation (up to 5% pyrite). These shoots are approximately 50m to 75m in dimension along strike, plunge west parallel with the dip direction and are believed to be located in a similar structural position as the gold mineralisation at Bibra. The latest results compare well with the previous drilling and demonstrate the consistency of gold mineralisation at Tramore. These encouraging results will be included in a resource update for Karlawinda expected to be completed in the December 2019 quarter. | |
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