The Karlawinda gold project by Capricorn Metals (ASX:CMM,OTC Pink:CRNLF) is now clear to commence all expanded mining activities.
In a Tuesday (July 29) release, Capricorn said that its mining proposal and mine closure plan for the project has been approved by Western Australia’s Department of Energy, Mines, Industry Regulation and Safety (DEMIRS).
Karlawinda’s expansion was first revealed by the company last January, following its announcement of its acquisition of the Deadman Flat project in Pilbara.
According to Capricorn, Deadman Flat’s tenements cover approximately 270 square kilometres contiguous to its Karlawinda gold project, allowing for the expansion.
The company aims for Karlawinda to lift gold production by 25 percent, at a peak of 150,000 ounces per annum.
“We have been working hard over the past 12 months to be as prepared as possible for commencement of the project and that should allow an expedited start to construction,” commented Capricorn Executive Chairman Mark Clark.
Following the approval, Karlawinda can now proceed with all expanded mining activities at Bibra, Southern Corridor and Berwick open pits, and construction of the expanded processing plant.
The approval also covers the construction and development of Tailing Storage Facility 2 (TSF2), additional ROM pad, extensions to the southern waste dump and other infrastructure development required.
On July 24, Capricorn also announced its acquisition of Warriedar Resources (ASX:WA8,OTC:WRDRF) and its flagship Golden Range project.
The announcement stated that 2.3 million ounces (Moz) gold equivalent will be added to Capricorn’s resource, about 25 percent more than its existing Western Australian mineral resource base of 6.8 Moz.
Subject to certain conditions, the acquisition is expected to close in November 2025.
Don’t forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
