Recent drilling at Capricorn Metals’ wholly-owned Tramore prospect in WA has uncovered a significant new zone of shallow gold mineralisation over a strike length of at least 600 metres.
The new zone is a southern extension of the current large-scale, 1.3 million-ounce Bibra gold deposit within Karlawinda.
A total of 53 RC holes (6,500m) and 83 aircore holes (5,100m) were completed during November and December 2017. Additional results from the other key targets will be reported as they become available.
These exciting results from just outside our proposed mining area at the Tramore Prospect continue to prove the endowment potential and exploration upside at Karlawinda is exceptional,” Capricorn’s Executive Chairman Heath Hellewell said.
“The definition of a new untested 600-metre long target zone between Bibra and Tramore is a big step forward at our Project.
“The potential for new ore positions along this mineralised structure is significant and the potential economic implications for the Project cannot be understated.”
The RC and aircore drilling program is part of a broader exploration initiative that was focused on the continued rapid expansion of Bibra at Tramore and also designed to test multiple high-priority prospects over 10km of known prospective stratigraphy.
The next phase of follow-up drill testing with two RC drill rigs is currently underway.
The stock (ASX: CMM) closed Thursday at 7.9c.