JOHANNESBURG (miningweekly.com) – ASX-listed Capricorn Metals has completed an updated inferred mineral resources estimate for the Bibra openpit deposit, at its Karlawinda gold project, in West Australia.
The updated resource, comprising 25.5-million tonnes grading 1.1 g/t of gold for 914 000 oz of contained gold, represents a 40% increase over the previously published inferred resource estimate of 18-million tonnes at 1.1 g/t for 650 800 oz.
This reflects the success of the maiden 47-hole (9 642 m) drill programme at Karlawinda, which will form the foundation of ongoing scoping study activities, which have been progressing in parallel with the resource estimation process.
The scoping study remains on schedule for completion by the end of this month and will, in turn, pave the way for the start of a definitive feasibility study (DFS) in the second half of this year.
To that end, Capricorn will soon start a major new programme of resource in-fill and extensional drilling at Karlawinda, initially with three reverse circulation (RC) drill rigs.
This programme, which will comprise up to 60 000 m of RC and diamond drilling, will start within two weeks and will also include exploration drilling to test numerous near-mine targets.