공시 • Jul 27
Capricorn Metals Ltd Provides an Update on Both MT Gibson and Karlawinda Project
Capricorn Metals Ltd. announced total of 80,124 metres (514 holes) of planned 81,000 metre RC resource definition and extension drilling programme completed to the end of June 2022. Assays received from 280 holes since the last update (first 55 holes) in April 2022 continue to return exceptional results within and extensional to the resource. Drilling on the unmined Saratoga and Orion North trends (east of the main Gibson trend) has defined zones of better grade within the resource shell and extending below the resource shell. Capricorn has expanded the programme from 81,000m to 105,000m in order to follow up and extend strong results returned both within and outside current resource optimisation shells. Results from this extended programme of drilling will be included in the updated Mineral Resource Estimate (MRE) in September 2022 and maiden Ore Reserve Estimate (ORE) in October 2022. In an important step for development of the project, Capricorn's application for a mining lease over the area required for a mining operation has been granted for an initial term of 21 years. 30,000 metres first pass regional exploration AC and RC drilling across a number of high priority target areas to commence in the September 2022 quarter. 23,664 metres (109 holes) of a planned 30,000m resource infill and extension RC drilling programme completed to the end of June 2022. High grade intercepts have been returned near the base of, below and along strike of current resource pit optimisations, which remain open down dip and south along strike. Results to form part of update to the Karlawinda MRE targeted for September 2022 and ORE in October 2022. A 30,000 metre regional exploration AC programme commenced in July 2022 following up AC gold anomalies adjacent to the shear zone at Mundiwindi and surface geochemical anomalies at Jim's East, Renaissance and Forfar prospects. A 3,010 metre RC programme planned to commence at the Muirfield prospect in the current quarter following up mineralisation reported in the December 2021 quarter. In January 2022 two RC rigs commenced drilling a planned 81,000 metre drill programme across the 8 kilometres of strike of current resources at the Company's 100% owned Mt Gibson Gold Project (MGGP). The objectives of this programme included: Infill drilling of the resource to broadly bring the drill density to 25 x 25 metres; Test gaps between resource pit optimisation shells along the 8 kilometres of strike; and Test for extensions of gold mineralisation below the current resource shells. Early results from this drilling were announced in April 2022 based on the first 29,842 metres of drilling. To the end of June 2022 a further 50,282 metres of drilling has been completed taking the total drilling to 80,124 metres. Following a review of very encouraging ongoing results Capricorn has extended the programme to 105,000 metres to continue testing strong extensional areas. The 514 holes (80,124 metres) completed to date have mainly focussed on the Orion Mine Trend, one of the more significant areas of the 2.08 million ounce resource at MGGP. Results of this extended programme will underpin an updated MRE targeted for completion in September 2022 and a maiden ORE targeted for completion in October 2022. Capricorn's current MRE of 79.7Mt at 0.8g/t Au for 2.083 million ounces is all classified as Inferred (in spite of drill density of 25m x 25m for the majority of the resource) due to the need to validate the quality of historical data. The assays received from drilling to date continue to line up with the historic data both spatially and for grade tenor, providing validation of the historic +660,000 metre drill database acquired with the project in July 2021 and the expectation that a significant proportion of the Inferred resource will be converted to Indicated category. Current and previously reported drilling at the depth extremities of the resource optimisation shells (where historic drill density is broader spaced) and below them has returned results consistent with Capricorn's geological interpretations of mineralisation location, widths and grade tenor. Drilling across the project to date indicates that mineralisation remains open down dip and along strike to the north and south with multiple stacked lodes intersected. Drilling along the Saratoga trend and Orion North trend (unmined structure to the east of the main mined Mt Gibson trend) has defined zones of better grade within the resource shell and assay results that extend below the resource shell. The plan below shows the drilling activity from the infill and extensional RC programme and the location of the following long and cross sections. A 30,000 metre first pass regional exploration AC and RC drill programme has been planned to commence in the September 2022 quarter pending environmental and heritage approvals. Several high priority targets within 5 kilometres of the central resource area will be tested including extensions of the Mt Gibson Mine Trend, McDonalds/Highway Area and Taurus Trend. A drone magnetic geophysical survey has been completed over the northern extent of the Mt Gibson mine trend upgrading current imagery which has generated multiple high priority targets. Imagery has defined geological and structural signatures north of the current mine trend known to host mineralised deposits within the MGGP. Due to the close proximity to significant in-situ resources and the trend's geological and structural signatures, this target area is considered highly prospective for further gold discovery. The Highway/McDonalds area located 5km north of the current resources has been identified as a significant exploration target. The area has a prospective geological and structural setting although much of the area is covered by up to 20 metres of transported cover. The area represents a unique opportunity to discover economic deposits at surface with under explored gold occurrences identified including significant historical workings at Gold Bar, Gibson and Leakes Find prospects located within Capricorn tenure. Field inspections have confirmed the mineralisation is associated with north south striking quartz veining within amphibolite hosted shear zones, a similar orientation and geological setting to the nearby Mt Gibson Mine Trend. This area continues to be a high priority target and subject to completion of heritage surveys, first pass AC drilling is expected to commence late in the current quarter. The Taurus Trend lies immediately to the west of the Gibson Trend. Unlike the Gibson Trend, mineralisation is associated with a continuous intrusive unit, rather than a structural shear control. This mineralisation is characterised by multiple discrete ore bodies and mineralised quartz veining within a weakly foliated, biotitic monzogranite. The deposits on this trend include Deep South, Sheldon, Taurus, Wombat and Capricorn.