Capricorn bullish on Karlawinda

CONVENTIONAL gold in Western Australia’s Pilbara region may not be getting the same heady love the conglomerate gold rush has received in recent months, but Capricorn Metals remains focused on an emerging significant Archaean gold system that it feels it has a good handle on.

Capricorn bullish on Karlawinda Capricorn bullish on Karlawinda Capricorn bullish on Karlawinda Capricorn bullish on Karlawinda Capricorn bullish on Karlawinda

It has just delivered a 20% increase in the 100%-owned Karlawinda project to more than 1.3 million ounces from “modest” drilling early in the year.

The latest addition adds 212,000oz to the last resource estimate in April, and delivers a 100% increase in resources since acquisition in February 2016.

The total resource has been increased to 38.3 million tonnes at 1.1 grams per tonne for 1.33Moz, and there remains potential for an increase of the Bibra open pit reserves and other life extensions according to the company. 

Around 25% of the resource – 8.3 million tonnes at 1.25gpt for 334,300 – is in the measured category for the first time within a pit shell optimised for a A$1500/oz gold price that takes-in a total of 985,600oz. 

The wider 1.3Moz resource, of w...