Capricorn Metals to Acquire Western Australia Project from Latitude 66

MT Newswires Live

08/14

Capricorn Metals (ASX:CMM) has agreed to acquire the prospective Piastri Project tenement package in Western Australia's Mid-West from Latitude 66 (ASX:LAT) for AU$1.5 million, according to a Friday filing with the Australian bourse.

The consideration will be paid through the issue of the company shares priced at the company's 20-day volume-weighted average price, per the filing.

The 15.2 square kilometer Piastri Project, contiguous with the company's Golden Range tenure and located just 200 meters from the Ricciardo Mineral Resource, is considered highly prospective for shear-hosted gold-antimony mineralization along the Mougooderra shear zone, the filing said.

The company plans to conduct geological and regolith mapping, geochemical sampling and targeted drilling to evaluate the project's resource potential, the filing added.

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