Capricorn Metals' exploration highlights

Capricorn Metals (ASX:CMM) has released its quarterly exploration update for the September 2024 quarter, detailing significant progress at its Mt Gibson Gold Project (MGGP) and Karlawinda Gold Project (KGP). The company completed extensive drilling, revealing impressive assay results that extend and define mineral resources across these key projects.

Capricorn Metals' strategic exploration advancements

Capricorn Metals (ASX:CMM) has made substantial strides in its exploration efforts at the Mt Gibson and Karlawinda Gold Projects. With over 22,737 meters of drilling at MGGP and 24,063 meters at KGP, the company has identified high-grade gold intercepts suggesting potential for underground mining, especially at Mt Gibson. The completion of a follow-up diamond drill program is planned to further explore these opportunities. At Karlawinda, a 15% increase in the Ore Reserve Estimate to 1,428,000 ounces of gold marks a significant milestone. Capricorn Metals continues to focus on resource expansion, with updates to the Ore Reserve Estimate and Mineral Resource Estimate anticipated in upcoming quarters. These exploration activities are crucial to the company's growth strategy, underpinning its long-term value creation and commitment to enhancing its gold resource portfolio.

Executive insights on exploration progress

The significant drilling results reported at both Mt Gibson and Karlawinda underscore our commitment to extending and defining our gold resources. These results highlight the potential for future underground mining operations at Mt Gibson and reflect our strategic focus on resource expansion and development.