Capricorn drilling programme yields promising results

JOHANNESBURG (miningweekly.com) – ASX-listed Capricorn Metals on Tuesday reported that resource drilling at its Bibra gold deposit has intersected a number of zones that are expected to contribute significantly to the growth of its resource.

The deposit forms part of its 100%-owned Karlawinda gold project, near Newman in Western Australia. Results have shown, among others, that the deposit holds 7 m at 7.5 g/t gold and 4 m at 4.8 g/t gold.

Capricorn MD Peter Thompson noted that with an increasing volume of assay results now flowing from the recent drilling, the potential to significantly expand the Bibra resource was clearly being established, together with the significant potential for higher grade resource ounces.

“Assay results are now really flowing in from the laboratory and we are getting a much clearer picture of the quality of the Bibra resource and the overall scale and potential upside to the mineralized system. Our view has always been that the program of infill drilling would highlight key zones with higher grades and likely resource growth within the deposit – and this is certainly proving to be the case.

“We still require additional results to be returned in these two areas but we are hopeful that they will add to the overall resource when we undertake the new estimation early next year.”