Capricorn to acquire Kings Find Project

The Kings Find Project is considered highly prospective for gold mineralisation, featuring multiple settings conducive to hosting economic gold deposits. Capricorn has already identified four target zones for exploration within the project tenure, with the highest priority target located only 35 km NNE of current MGGP resources, and in close proximity to the Great Northern Highway.

The transaction consideration is US$1.5 million, of which Capricorn has paid an initial cash deposit of US$100 000 with the balance of the consideration to be paid by the issue of Capricorn shares. Further consideration includes the grant of a 1% net smelter royalty on the sale of any minerals. The share issue consideration will be valued at the 20-day VWAP prior to completion occurring. Completion of the acquisition is expected in March 2025, being subject only to procedural conditions precedent.

Capricorn Executive Chairman Mark Clark commented:

“The acquisition of the Kings Find 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.”

Read the article online at: https://www.globalminingreview.com/finance-business/14032025/capricorn-to-acquire-kings-find-project/