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 in the development of a new, large West Australian open pit mining project.

The Company is developing the Karlwinda Gold Project in the Pilbara region of Western Australia as a stand-alone project expected to produce between 105,000 – 120,000 ounces per annum over a 12-year mine life.

The fully funded project is being developed as an open-pit mining, CIL processing operation which is expected to commence commissioning in the March 2021 quarter.

In April 2020, an updated Reserve of 1.2 million ounces was estimated for the Bibra deposit which was a 35% increase from the previously announced Ore Reserve of 890,000 ounces. The new Ore Reserve is contained within an updated Measured and Indicated Mineral Resource of 86.7Mt @ 0.8g/t Au containing 2.1Moz. This is an increase of 41% from the previous Mineral Resource Estimate.

The Company is excited by the growth potential of the project area and holds a significant land position of over 2,000km2. A number of exciting exploration targets have been identified across the prospective greenstone belts and will be tested in the immediate future.

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, to realise the enormous exploration potential of the greater Karlawinda project and to build a significant Australian gold company.