Announcement Date: 2022-10-25
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Capricorn Metals Ltd.
Project name: Mt Gibson
Location: Australia
Commodities: Gold
Highlight: Drilling results incl. 24m at 20.9g/t Au from 48m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Two RC rigs continued during the current quarter completing 28,698 metres taking cumulative RC drilling to date to 109,356 metres (696 holes). Following a review of very encouraging ongoing results Capricorn has extended the programme to 117,000 metres to continue testing strong extensional areas (refer Figure 1). Drilling to date has covered, to varying degrees, the majority of the mine trend, which hosts the current 2.08 million ounce resource. Wide spaced exploration RC drilling has commenced directly east of the main mine trend where untested north striking greenstone rocks have been identified in recent drone magnetic geophysical surveys (targets reported in previous exploration update). It is encouraging that areas have been indentified with broad zones of strong sulphide occurences (pyrite) and magnetite alteration intersected. This structural and geological setting is considered analogous to mineralised zones within the MGGP. RC drilling in the east will also include sterilisation drilling covering areas where major mining infrastructure is planned to be located (refer Figure 1).
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