Capricorn Metals Ltd is an emerging Australian, ASX-listed gold explorer and developer, based in Perth, Western Australia. It was re-named from Malagasy Minerals Ltd in February 2016, upon the acquisition of the Karlawinda Gold Project in Western Australia. Exploration and real estate assets held in Madagascar are to be divested, with all funds directed towards gold exploration at Karlawinda. An experienced team of explorers and project developers has been established so that the full potential for gold developments at Karlawinda can be realised.
Located 65km south of Newman in the world-class Pilbara mining province in WA, the Karlawinda Project includes the Bibra gold deposit and numerous outstanding exploration targets, including the advanced Francopan gold prospect, within an under-explored 290 square kilometre tenement package.
The Bibra deposit was discovered by Independence group (ASX: IGO) in 2009 and has a JORC 2012 inferred resource of 18 million tonnes @ 1.1g/t Au for 914,000oz Au contained within an optimised pit design at A$1750/ounce gold price. A substantial infill drilling programme completed by the Company from September – December 2016 aims to increase this in-pit resource estimate and re-classify it to Measured and Indicated.