Capricorn expands MGGP with significant new results at Lexington

• Exceptional gold intercepts returned from first seven holes
• All seven holes assayed to date intersected significant mineralisation
• Results come from outside current resource envelope
• Lexington mineralisation domain represents a distinct intrusion-related orogenic gold system

Capricorn Metals (ASX:CMM) has obtained significant drilling results at the Lexington underground prospect within the Mt Gibson gold project in Western Australia.

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The early success of drilling at Lexington, the second underground target to be tested, has significantly extended high-grade underground gold mineralisation at MGGP to over 900 metres of strike and to depths of more than 500 metres below the current reserve pit designs, open in all directions.

Capricorn’s EC, Mark Clark, said results returned to date have been outstanding. “The drilling at Lexington has delivered some of the strongest underground intercepts we have seen at Mt Gibson to date,” he explained.

Mr Clark continued: “These outstanding results highlight the scale, continuity and high- grade tenor of the system defined between Orion South and Lexington, which is now clearly emerging as a major underground discovery with genuine potential to add a significant long-life, high-margin underground mining operation to the Mt Gibson project.”

Notably, all results are outside the current resource envelope with reported intercepts ranging between 85 and 365 metres below current resources (210 and 470 metres below current open-pit ore reserves), giving early confirmatory data to the scale of the underground resource potential of Lexington.

Drilling targeted multiple north-plunging high-grade lodes down-dip and along strike from previous shallower intercepts. All seven holes assayed intersected mineralisation with the system remaining open in all directions.

Outstanding intercepts included 13.1 metres at 13.93 grams per tonne (g/t) from 714.9 metres; 15.9 metres at 5.22 g/t Au 643 metres; 11 metres at 3.03 g/t from 329 metres; and 28.6 metres at 5.35 g/t from 431.8 metres.

The drilled zone at Lexington is more than 600 metres north along strike from the Orion South underground deposit, where Capricorn reported an underground MRE of 895,000 ounces of gold in November CY25.

Mr Clark told shareholders the early results at Lexington continue to demonstrate the strong potential of the combined 2.1km drill-tested zones between the Orion and Lexington prospects to host a significant-scale, long-life underground mining operation.

“The early results at Lexington are very exciting as they point to a more extensive high-grade system than previously defined below open pittable depths on a significant portion of the strike of the Mt Gibson deposits.”

CMM is down -0.39% to $11.41. Mkt cap $5.229B.

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