Capricorn Metals’ (ASX:CMM) decision to explore for more gold in the immediate vicinity of the Bibra project seems to be paying off as the company seems to have found economic-grade gold mineralization at the Easky prospect, just half a kilometer west of the 900,000 Bibra resource.
With assay results of 8 meters at 1.4 g/t gold as well as 20 meters of 1 g/t gold and 16 meters of 1.7 g/t gold within 100 meters from surface, Capricorn is starting to consider Easky as a satellite deposit to the Bibra project as the mineralization at Easky seems to be similar/identical to the Bibra mineralization.
Drilling at Bibra has now been completed, and Capricorn expects to release more assay results over the next few weeks. This drill program (77,500 meters) should allow the company to upgrade its inferred resources to the measured and indicated categories, enabling the company to use the updated resource estimate in its definitive feasibility study which is expected in the second quarter of this year.
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