Capricorn Gold Mine in Australia Intersects 6-Metre High-Grade Gold Mineralization

en.Wedoany.com Reported - On October 26, Australian mining company Capricorn Metals announced the latest drilling results from its Mt Gibson gold project in Western Australia. The company completed 88 reverse circulation and diamond drill holes totaling 26,668 metres in the third quarter of 2026. Among them, the Lexington prospect intersected a 6-metre gold mineralized interval from a downhole depth of 616 metres, averaging 57.38 g/t gold; another hole discovered a 7-metre mineralized interval grading 40.01 g/t gold from a downhole depth of 401 metres, with mineralization extending below the designed boundary of the existing open pit.

The Lexington prospect also returned multiple gold mineralization results of varying thicknesses, including 29.5 metres grading 6.65 g/t gold from a downhole depth of 760.5 metres, 14.5 metres grading 8.44 g/t gold from a downhole depth of 501 metres, and 3.38 metres grading 55.97 g/t gold from a downhole depth of 294 metres. Current drilling is primarily targeting a north-plunging high-grade mineralized zone, with some mineralized intervals located outside the designed reserve boundary of the existing open pit, leaving further exploration potential along strike and at depth.

The Hornet prospect also returned relatively high-grade gold mineralization. In drill hole CMRC2552D, a 3-metre mineralized interval grading 89.88 g/t gold was intersected from a downhole depth of 120 metres; drill hole CMRC2553D intersected 12.18 metres grading 2.33 g/t gold from a downhole depth of 319 metres, including a 4-metre interval grading 3.57 g/t gold. These mineralized intervals are located below the reserve boundary of the existing open pit. The company is continuing deep drilling and awaiting assay results from some holes.

At the Orion South prospect of the Mt Gibson project, 45 drill holes totaling 10,575 metres of resource conversion and extension drilling were completed during the same period. Among them, a 21.83-metre mineralized interval grading 9.54 g/t gold was intersected from a downhole depth of 371 metres, along with another result of 3 metres grading 15.43 g/t gold. Existing drilling has outlined a potential mineralized strike length of more than 1,600 metres, and follow-up work will focus on testing the continuity of the main mineralized zone and a newly identified mineralized zone to the west.

Capricorn plans to prepare the first underground mineral resource estimate for the Lexington prospect in the fourth quarter of 2026 and to continue underground resource evaluation at Orion South. Main construction of the core processing facility at the Mt Gibson project site has been completed, with equipment installation and supporting works underway. Commissioning is expected to begin in November to support subsequent underground drilling and core sample processing.