Capricorn acquires Ninghan Gold Project

The Ninghan Gold Project covers approximately 77 km2 of tenure located contiguous to the north of Capricorn’s Mt Gibson Gold Project (MGGP) tenure in the Murchison region of Western Australia.

The Ninghan Gold Project is considered highly prospective for gold mineralisation, featuring multiple settings conducive to hosting economic gold deposits. Capricorn has already identified seven target zones for exploration within the project tenure, with the highest priority targets located only 20 km NNE of current MGGP resources and in close proximity to the Great Northern Highway.

The Ninghan Gold Project, located approximately 325 km north-northeast of Perth, lies between the townships of Wubin and Paynes Find within the Yalgoo-Singleton Greenstone Belt of the Murchison Province in Western Australia. This region is well-regarded for its significant mineral discoveries. The Yalgoo-Singleton Greenstone Belt spans 190 km and extends in a northnorthwest direction from Mt Gibson to north of Yalgoo town. It hosts notable Volcanogenic Massive Sulphide (VMS) deposits, including the Cu-Pb-Zn-Ag-Au Golden Grove mine, and is also host to significant gold deposits such as Mt Gibson, Deflector, and Karara.

The project covers approximately 77 km2 of tenure and is located contiguous to the north of Capricorn’s MGGP tenure. The project is highly prospective for gold mineralisation, featuring multiple settings conducive to hosting economic gold deposits with multiple historic small-scale prospecting sites present on the tenure. Historically, gold exploration in this area has been limited to early-stage activities, predominantly in the mid-1990s. However, both historical and recent exploration efforts have underscored the potential of the project to support further near-surface satellite resources and significant gold discoveries.

Capricorn has identified seven drill ready target zones for exploration within the Ninghan Gold Project. This zone is geologically analogous to the main mineralisation of the Mt Gibson deposit, featuring historic workings in shear zones along a contact of metamorphosed and chlorite-biotitemuscovite altered mafic volcanics. Additional data has revealed geological settings favourable for shear-hosted as well as felsic volcanic rocks that have the potential to host volcanogenic copperlead-zinc sulphide mineralisation similar to that of Golden Grove. Capricorn will use a focused approach to fully understanding and capitalising on the resource potential of the area. In 4Q25 Capricorn will commence broad scale geological and regolith mapping, and geochemical sampling in currently defined target areas. This work is designed to confirm targets for drilling in FY26.

Capricorn Executive Chairman Mark Clark commented:

“The acquisition of the Ninghan Gold 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/28042025/capricorn-acquires-ninghan-gold-project/