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Capricorn discovers new gold zone at Karlawinda in Western Australia

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Capricorn discovers new gold zone at Karlawinda in Western Australia

Capricorn Metals Ltd said Sept. 28 that initial drilling on the Portrush prospect confirmed a new zone of shallow gold mineralization at its Karlawinda project in Western Australia's Pilbara region.

The company started a definitive feasibility study on Karlawinda in late July, which included a 60,000-meter drill program aiming to upgrade and increase resources.

The Portrush prospect is hosted within the hanging wall of the Bibra deposit, immediately west of current open-pit designs, and is interpreted to have a potential strike extent of 150 meters to 200 meters.

Reverse circulation drilling intersected 11 meters at 1.0 g/t of gold from a depth of 57 meters and 7 meters at 1.40 g/t of gold from 71 meters. Follow-up drilling is planned to fully delineate mineralization at Portrush.

"Subject to further drilling of this area, we believe there is excellent potential to expand the resource in this area and include it within a revised and expanded open pit shell — which would have positive implications for the definitive feasibility study outcomes," Managing Director Peter Thompson said in a statement.

Drilling is focused on other exploration targets, with results expected over the coming weeks.