Capricorn Metals (ASX: CMM)

Advised that it has entered into a binding agreement with Tempest Minerals Limited to acquire the prospective Yalgoo Project tenement package, covering 1,000 square kilometres of tenure located contiguous to Capricorn’s Golden Range and Fields Find tenure.

 

 

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	Capricorn Metals	ASX: CMM
	Stage	Production, development, exploration
	Metals	Gold
	Market cap	A$6.52 Billion  @A$14.30
	Location	Western Australia
	Website	www.capmetals.com.au

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ACQUISITION OF YALGOO PROJECT EXPANDS CAPRICORN’S MT GIBSON PROJECT TENURE

 

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Capricorn Metals Ltd (ASX: CMM) (“Capricorn” or “the Company”) is pleased to advise that it has entered into a binding agreement with Tempest Minerals Limited (“Tempest”) to acquire the prospective Yalgoo Project tenement package (“Yalgoo Project”).

The Yalgoo Project covers approximately 1,000 square kilometres of tenure located contiguous to Capricorn’s Golden Range and Fields Find tenure, north of the Mt Gibson Gold Project (“MGGP”) in the South Murchison region of Western Australia.

The Yalgoo Project is considered highly prospective for gold mineralisation, featuring multiple settings conducive to hosting economic gold deposits.

Capricorn has identified several target zones for exploration within the project tenure.

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Highlights

The transaction consideration is $4.5 million, comprised of an initial cash deposit
of $100,000 which has been paid by Capricorn, $400,000 cash on completion;

The balance of $4.0 million to be satisfied by the issue of fully paid ordinary
shares in Capricorn, calculated by reference to the 5-day VWAP prior to completion
occurring.

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To read the full report please click HERE

 

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Disclosure

At the time of writing the author holds shares in Capricorn Metals

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