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Code CMM Source ASX

A Compelling Opportunity In The Australian Gold Sector

Capricorn Metals Ltd is a rapidly growing ASX-listed gold company, which is well advanced to commence development of a new, large West Australian open pit mining project in 2019.

After acquiring its flagship Karlawinda Gold Project at the beginning of 2016, Capricorn has moved quickly to grow project Resources which are currently estimated at 1.5Moz, an increase of over 100% since the acquisition of the Project.
In May 2018 an updated Reserve of 892,000koz was estimated for the Bibra deposit which was a 25% increase from the previously announced maiden Ore Reserve of 713,000. The new Ore Reserve is contained within an updated Measured and Indicated Mineral Resource of 45Mt @ 1.0g/t Au containing 1.4Moz. This is an increase of 200,000oz from the November 2017 Mineral Resource.
Ongoing optimisation studies using the new reserve are continuing to further enhance the project economics over 2018 as the Company continues to complete project permitting and project financing and ultimately reaches a final investment decision in late-2018.
Well-funded with a high calibre Board and management team, Capricorn is aspiring to deliver shareholders a highly profitable open pit gold mining project at Bibra during 2019, to realise the enormous exploration potential of the greater Karlawinda project and to build a significant Australian gold company.