Capricorn Metals Ltd (Malagasy Minerals)
Capricorn Metals Ltd (Malagasy Minerals)
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Just over 12 months after acquiring the historic Mt Gibson gold project in Western Australia’s Murchison region, Capricorn Metals has grown its mineral resource estimate by 32% to 2,755,000oz.
The JORC-compliant estimate of 104.9Mt @ 0.8g/t is derived from over 104,000m RC drilling, with more assays to be included and covers mineralisation to an average depth of 160m.
Capricorn Metals has resumed load and haul mining operations at its Karlawinda gold mine in Western Australia’s Pilbara after a three-week shutdown resulting from the death of an employee of mining contractor MACA.
The company says it is continuing to work with MACA and state mining and safety authorities on their investigations into the collision between two mine vehicles.
Production has been suspended at Capricorn Metals’ Karlawinda gold mine in the West Australian Pilbara region following the death of an employee of mining contractor MACA.
Capricorn says police were called to the mine site 65km SE of Newman following the incident, the mine’s emergency response team is assisting and state mining authorities have been notified.
West Australian miner Capricorn Metals is aiming to complete an ore reserve and feasibility study in the Dec 2022 qtr to assist a development decision on its Mount Gibson gold project.
Capricorn Metals is aiming to complete an updated mineral resource next month, ore reserve and feasibility study in the Dec qtr as it works towards a development decision on its Mount Gibson gold project in Western Australia's Murchison region.
The miner says Mount Gibson, a past producer of 868,468oz gold prior to 1999, could grow into a significant platform for a mining operation.
Capricorn Metals is predicting continued strong operational performance from its Karlawinda gold project in the West Australian Pilbara after producing a top-end-of-guidance 118,432oz for its first nine months to end of June 2022.
It’s set FY23 guidance for the mine 65km SE of Newman of 115,000-125,000oz and AISC of $A1,160-1,260/oz, among the lowest in the Australian gold sector.
Capricorn Metals’ Karlawinda gold mine in Western Australia has ended its first full year of operations with a flourish, delivering a record 32,018oz in the June qtr for FY22 production of 118,432oz, at the upper end of its 110,000-120,000oz guidance.
Exec chairman Mark Clark says Karlawinda’s strong performance and outlook provide a great platform to pursue growth opportunities there and at its Mt Gibson gold project in the WA Murchison region while continuing to assess external growth opportunities.
West Australian miner Capricorn Metals has identified an opportunity to add satellite resources and potential mill feed to its Karlawinda gold project with agreement to acquire the prospective Mumbakine Well project from Gascoyne Resources.
Capricorn will pay $A1.25M upfront plus contingent deferred payments of $3.5M up to a decision to mine, plus 0.5% net smelter royalty for the transaction.
West Australian miner Capricorn Metals is on track for the top end of the 110,000-120,000oz FY22 gold guidance at its 100%-owned Karlawinda mine after delivering 31,769oz at AISC of $A1,086/oz in the March qtr (Q3), up from 30,316oz at $1,048/oz in the previous period.
Capricorn says with its third mining fleet operating, the Pilbara region mine has built over 2.1Mt stockpile that will provide nearly six months ore feed for the processing plant.
Leading Australian-based contractor MACA is promising improved safety and productivity after signing an MoU for the deployment of autonomous mining fleets.