Capricorn Metals Ltd (ASX:CMM) Acquires Ninghan Gold Project
Acquisition Details
Capricorn Metals Ltd has entered a binding agreement to acquire Sabre Resources Ltd’s Ninghan Gold Project for $1.6 million. The payment includes an initial $100,000 cash deposit and the issuance of Capricorn shares, along with a 1% net smelter return royalty on most tenements.
Project Expansion
The Ninghan Gold Project covers approximately 77 square kilometres adjacent to Capricorn’s Mt Gibson Gold Project in the Murchison region of Western Australia. The project is highly prospective for gold mineralisation, with seven target zones identified. Capricorn plans to begin geological and geochemical exploration in Q4 2025 to confirm drilling targets for FY26.
Executive Comments
Executive Chairman Mark Clark commented, “The acquisition of the Ninghan 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. 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.”
Motley Fool contributor Aaron Shaw has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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