Capricorn Metals Ltd (ASX:CMM) said its expanded 15,000-meter diamond drilling program will continue with three diamond drill rigs in the fiscal fourth quarter targeting the underground mine potential at the Orion deposit in Mount Gibson gold project in Western Australia and a maiden underground mineral resource estimate is targeted for the first quarter of fiscal year 2026, according to a Monday Australian bourse filing.
A further 835 drill holes, covering 34,390 meters, were completed for resource extension, grade control, regional exploration, and mine development drilling across the gold project during the March quarter.
Assays received from 89 resource definition holes, for a total of 15,449 meters, continued to return results within and extensional to the resource, including 17 meters at 2.51 grams per tonne grade of gold from 232 meters as well as eight meters at 8.9 g/t grade of gold from 39 meters.
An extensive regional drilling program, comprising 25,000 meters of air core drilling and 18,000 meters of reverse circulation drilling, began during the period at the Karlawinda gold project, also in Western Australia.
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