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Capricorn Metals Ltd.
Summary
| Project: | Karlawinda | |
|---|---|---|
| Deposit: | Tramore, Bibra | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 1/31/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 31-1-2020: Capricorn Metals Ltd. announces an Exploration/Drilling Update report for its Tramore, Bibra deposit at the Karlawinda project. Drilling results incl. 13m @ 2.12g/t Au from 76m. Capricorn is developing the Karlawinda Gold Project (KGP) located | |
| Resources: | ||
| CP/QP: | [Overall Report]: Campbell Ryan (Internal) | |
| ABSTRACT: | Capricorn is developing the Karlawinda Gold Project (KGP) located 65 km south-east of Newman in the Pilbara region of Western Australia. Current Mineral Resources at KGP are estimated at 1.52m ounces of gold, including open pit Ore Reserve of 0.89m ounces. During the December 2019 quarter, the Company continued exploration and development activities as detailed below. Work continued during the quarter to review and optimise the development and operating parameters for the KGP. Preliminary plant design work and DFS capital and operating cost estimation updates were completed during the quarter. Capricorn also made the key appointments of Mintrex and ECG Engineering to undertake engineering, plant design and electrical works for the KGP. The major change to the plant design from the 2018 study has been a move to a three stage crushing circuit and a single ball mill (previous design was single stage crushing feeding SAG and ball mills). This revised configuration is designed to achieve a throughput in the order of 3.5 – 4.0mtpa in fresh ore (previous design forecast 3.0mtpa). This is expected to deliver an average gold production range of 105,000 – 120,000 ounces per annum, representing significant upside to the average life of mine production estimate of 100,000 ounces per annum reported in the 2018 study. Subsequent to the end of the quarter, the Company placed an order for the ball mill. | |
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