Capricorn Metals Limited (ASX: CMM) – $0.140

13 Apr 2016

Capricorn Metals Limited (ASX: CMM) has received assay results from the maiden drilling program at its 100% owned Karlawinda Gold Project located approximately 65km southeast of Newman in Western Australia (Figure 1).


CMM Karlawinda Au

Figure 1. Location of the Karlawinda Gold Project



Significant drilling intercepts include:


  • 9 metres at 5.10g/t gold from 169 metres and 21 metres at 1.33g/t gold from 190 metres;
  • 12 metres at 1.00g/t gold from 162 metres and 13 metres at 1.02g/t gold from 176 metres;
  • 15 metres at 1.07g/t gold from 203 metres.


The reverse circulation drilling program at the Bibra Deposit consists of 40 drillholes at approximately 8,000 metres with 36 drillholes completed. The drilling has focused on the main lode in the northern area of the optimised open pit.


Results from the first eleven reverse circulation drillholes confirm mineral extensions to the Bibra Deposit and an upgraded JORC resource estimate is expected during June 2016.



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