Capricorn Metals (ASX: CMM)
Announced that drilling at the Orion South, Lexington & Hornet underground prospects at the Mt Gibson Gold Project (MGGP) has continued to intersect high-grade gold mineralisation.
Results at Lexington continue to underpin a maiden underground Mineral Resource Estimate expected later this quarter.
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Capricorn Metals projects location map – Courtesy of Capricorn Metals
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| Capricorn Metals | ASX: CMM | |
| Stage | Production, development, exploration | |
| Metals | Gold | |
| Market cap | A$5.83 Billion @A$12.75 | |
| Location | Western Australia | |
| Website | www.capmetals.com.au |
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CAPRICORN ISSUE FURTHER HIGH-GRADE RESULTS AT LEXINGTON
EXTEND UNDERGROUND POTENTIAL AT MGGP
Capricorn Metals (ASX: CMM) Announced that drilling at the Orion South, Lexington & Hornet underground prospects at the Mt Gibson Gold Project (MGGP) has continued to intersect high-grade gold mineralisation.
Results at Lexington continue to underpin a maiden underground Mineral Resource Estimate expected later this quarter.
Highlights
A total of 26,668 metres (88 holes) of combined diamond and RC drilling was completed at MGGP during the September 2026 quarter. Significant intercepts at Lexington include:
6.0m @ 57.38g/t Au from 616.0m 7.0m @ 40.01g/t Au from 401.0m
29.5m @ 6.65g/t Au from 760.5m 14.5m @ 8.44g/t Au from 501.0m
20.0m @ 4.69g/t Au from 364.0m 32.5m @ 2.64g/t Au from 518.0m
23.33m @ 3.14g/t Au from 556.1m 34.8m @ 2.10g/t Au from 584.2m
3.38m @ 55.97g/t Au from 294m 32.0m @ 3.25g/t Au from 260m
Mineralisation continues to be intersected outside of the Orion South Underground stope designs, well below current reserve pit designs, and remains open along strike and at depth.
At Hornet, drilling intersected mineralisation beneath the current reserve pit outline,
including 3.0m @ 89.88g/t Au from 120m.
At Orion South, a further 10,575 metres (45 holes) of resource conversion and extension drilling was completed, with results including 21.83m @ 9.54g/t Au from 371m. Drilling has now defined more than 1,600 metres of prospective strike.
Further assay results are expected in Q2 FY27.
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Capricorn Executive Chairman, Mark Clark, commented:“The results from this quarter’s drilling at MGGP are very pleasing. We continue to intersect high-grade mineralisation over good widths outside the current open pit and underground reserve designs, and the system remains open.
“Drilling will continue with the aim of informing a maiden underground resource at Lexington later this quarter, alongside the ongoing work at Orion South.
“This is an important step towards validating our Range 500 growth strategy.”
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Disclosure
At the time of writing the author holds shares in Capricorn Metals
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