Capricorn Metals reports high-grade gold at Mt Gibson project

Capricorn Metals has reported significant high-grade gold mineralisation at its Mt Gibson Gold Project (MGGP) in Western Australia. During the September quarter, the company completed 26,668 metres of drilling across 88 holes at the Lexington and Hornet prospects.

Key drilling results at Lexington included intercepts of 6m at 57.38g/t gold and 7m at 40.01g/t gold. At Hornet, drilling intersected 3m at 89.88g/t gold beneath the existing reserve pit outline. Results at Orion South also showed high-grade intercepts, including 21.83m at 9.54g/t gold, defining more than 1,600 metres of prospective strike.

The mineralisation appears to extend beyond current open-pit and underground reserve designs, with the system remaining open along strike and at depth. These results support the potential for a maiden underground Mineral Resource Estimate at Lexington later this quarter. Additionally, construction of the on-site core processing facility at Mt Gibson is complete, with equipment installation currently underway to support future underground drilling programs.