Capricorn Metals (ASX: CMM)
Published a Quarterly Exploration Update
Assays received from 89 resource definition holes (15,449 metres) since the last update in January 2025 continue to return exceptional results.
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| Capricorn Metals | ASX: CMM | |
| Stage | Production, development, exploration | |
| Metals | Gold | |
| Market cap | A$3.96 Billion @A$9.18 | |
| Location | Western Australia | |
| Website | www.capmetals.com.au |
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Capricorn Metals – QUARTERLY EXPLORATION UPDATE
28 metres @ 8.68g/t from 83 to 110m#
Highway Prospect – Capricorn’s Maiden Drill Programme
Highlights
Mt Gibson Gold Project (MGGP)
• A further 835 holes, covering 34,390 metres, were drilled for resource extension, grade control, regional exploration, and mine development drilling across the MGGP during the March 2025 quarter (Q3).
• Assays received from 89 resource definition holes (15,449 metres) since the last update in January 2025 continue to return exceptional results, both within and extensional to the resource including:
• 17 metres @ 2.51g/t from 232 to 249m • 8 metres @ 8.90g/t from 39 to 47m
• 8 metres @ 5.73g/t from 111 to 119m* • 7 metres @ 5.80g/t from 234 to 241m*
• 19 metres @ 1.69g/t from 266 to 285m* • 9 metres @ 3.21g/t from 184 to 193m*
* intercept is outside of current resource pit shell
• A total of 5,928 metres (22 holes) of diamond drilling at the Orion Deposit was completed as part the third programme (15,000m) of deep drilling targeting mineralisation below the reserve shells. Broad, high-grade gold intercepts demonstrated that mineralisation extends significantly at depth, continuing to highlight the
potential for an underground mining operation. Encouraging results were returned including:
• 3 metres @ 41.49g/t from 290 to 293m • 3.61 metres @ 24.97g/t from 467 to 470.61m*
• 12.86 metres @ 4.86g/t from 336.14 to 349m* • 13.97 metres @ 4.02g/t from 364.03 to 378m*
• 8 metres @ 6.57g/t from 326 to 334m • 5 metres @ 9.33g/t from 305 to 310m*
• 13.15 metres @ 3.01g/t from 300 to 313.15m • 1.1 metres @ 33.80g/t from 336 to 337.10m*
* intercept is outside of current resource pit shell
The expanded 15,000m diamond drill programme will continue with three diamond drill rigs in Q4 targeting the underground mine potential and a maiden underground MRE targeted for Q1FY26.
To read the full report please click HERE
The live Spot gold price can be found HERE
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Disclosure
At the time of writing the author holds shares in Capricorn Metals
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