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Karlawinda

Royalty2% NSR
TermsUncapped, without buybacks
Acquisition DateFebruary 2021
LocationAustralia
CommodityGold
OperatorCapricorn Metals Ltd (ASX: CMM)
Mine TypeOpen Pit
Mine Life10 years
Area110km2

The Karlawinda Gold Project is a large-scale open pit mine located in the Pilbara region of Western Australia, 70km by road south-east of the town of Newman. Karlawinda began commercial production in Q3 2021, achieving commercial production within three months of first gold pour and produced 120koz in the year to June 2023.

Mining is centred on the multi-million-ounce Bibra Deposit, hosted in a sequence of Archaean greenstone belt volcanics and sediments metamorphosed to amphibolite facies. Mineralisation at Bibra is shoot controlled along a series of low-angle mineralised faults. North-east trending shoots form broad zones up to 50m thick and are continuous down-plunge. Bibra has been defined by drilling over a 1.8km strike length and is drilled to 800m depth. Ore is processed onsite with throughput rates of 4Mtpa for fresh ore and 5Mtpa for oxide, and gold is extracted through gravitational recovery methods and conventional cyanide leaching.

The project has substantial potential for Resource conversion and expansion, with significant drilling taking place beneath the current pit outline, as well as in the Southern Corridor and Tramore. The 110km2 royalty licenses also contain numerous significant greenfield exploration targets including the Francopan, Berwick, Muirfield and Vedas prospects. An initial resource was published at Berwick of 35koz during 2023, with drill results and resource estimation expected for Vedas as part of Capricorn’s ongoing regional exploration program.

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Photo Gallery

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Sources

  • CMM FY23 Financial Results released September 8, 2023
  • CMM ASX Announcement “Quarterly Exploration & Annual Resource/Reserve Update”, effective April 14, 2023 and dated July 27, 2023
  • CMM ASX Announcement, “Karlawinda Gold Project Update – Modifications to Provide for Throughput of Up to 5 Million Tonnes PA”, 27 July 2020
  • CMM ASX Announcement, “Gold Reserves Increase 35% to 1.2 Million Ounces”, 17 April 2020
  • CMM ASX Announcement, “Karlawinda Optimisation Study Delivers Significant Increase in Project NPV to $243 Million”, 20 June 2018
  • For more information on Karlawinda, please visit http://capmetals.com.au/