PERTH (miningweekly.com) – Junior Capricorn Metals has reported a 35% increase to the ore reserve at its Karlawinda gold project, in Western Australia.
The project’s ore reserve has now increased from 892 000 oz to more than 1.2-million ounces, while the mineral resource has increased by 41%, from 2.14-million ounces to 1.52-million ounces.
“The increase in the Karlawinda gold ore reserve to 1.2-million ounces confirms the project as a standout new fully funded greenfield development project in the Western Australian gold industry,” said Capricorn executive chairperson Mark Clark.
“It is a robust, high margin, long life and low technical risk project in arguably the best mining jurisdiction in the world. With construction of the project already under way, the increase in the resource to 2.14-million ounces and the large, underexplored tenement package at Karlawinda offer significant mine life extension opportunity, particularly at the current strong Australian dollar gold price.”
The A$132-million Karlawinda project was initially expected to produce 660 955 oz over an eight-and-a-half-year mine life.