Capricorn Metals is expanding its Mt Gibson gold project tenure by acquiring the Claw gold project in the Murchison region of Western Australia.
Owned by BPM Minerals, the Claw gold project covers approximately 328km² of land south of Mt Gibson and is considered highly prospective for gold mineralisation.
Capricorn will acquire the Claw gold project from BPM for $1.5 million, with the company already having paid $100,000 in cash. A further $500,000 will be paid in cash upon completion, and the remaining $900,000 will be paid by the issue of Capricorn shares.
Capricorn has also agreed to pay $750,000 once a JORC-compliant mineral resource estimate in excess of 75,000 ounces is announced for the Claw gold project, as well as another $750,000 once it has commenced a commercial mining operation at the site.
“The acquisition of the Claw gold project continues the expansion of Capricorn’s Mt Gibson exploration footprint and adds highly prospective targets very close to the company’s current Mt Gibson resources,” Capricorn executive chairman Mark Clark said.
“This provides Capricorn with an outstanding exploration opportunity with a view to adding meaningful additional ore sources to the Mt Gibson operation. We look forward to commencing active exploration on the project in 2025.”
The transaction is expected to be completed in July, joining Capricorn’s portfolio of recently acquired gold projects, including the Ninghan gold project, the Kings Find project, Mummaloo project, the Deadman Flat project and the Sylvania project.
Capricorn has identified seven target zones for exploration within the Claw gold project, with the highest priority target located immediately adjacent to the Sundance prospect within Mt Gibson.
The company used the second quarter of 2025 to commence broad scale geological and regolith mapping, and geochemical sampling in currently defined target areas, with the work to help confirm drilling targets for the second half of the 2025–26 financial year.
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