Capricorn to Buy Piastri Gold-Antimony Ground for $1.5m

Capricorn Metals (ASX:CMM) has entered into a binding agreement with Latitude 66 Limited to acquire the Piastri Project tenement package, which sits contiguous to Capricorn's Golden Range tenure in the Mid-West region of Western Australia and adjacent to the Ricciardo deposit. The consideration is $1.5 million, which Capricorn will settle through the issue to Latitude 66 of fully paid ordinary Capricorn shares upon completion, valued at the 20-day volume weighted average price prior to completion occurring.

The project tenure covers a granted Exploration Licence of approximately 15.2 square kilometres of largely untested strike, which Capricorn said is prospective for shear-hosted gold-antimony mineralisation along the Mougooderra shear zone. It is located approximately 200 metres east of mining infrastructure related to the Ricciardo Mineral Resource of 24.5Mt at 2.5g/t gold equivalent for 1.96Moz gold equivalent, an estimate extracted from an announcement by Warriedar Resources Limited dated 5 May 2025; Warriedar is a wholly owned subsidiary of Capricorn. Capricorn said limited historic exploration has been completed, with only shallow drilling across parts of the strike, and that it has identified several target zones within the tenure. It said it will use a focused approach commencing with geological and regolith mapping, followed by geochemical sampling and targeted drilling.