Capricorn Metals Secures Claw Gold Project from BPM Minerals in Strategic Acquisition

Capricorn Metals (ASX: CMM) has struck a deal with BPM Minerals (ASX: BPM) to acquire the large Claw gold project tenement package in the Murchison region of Western Australia.

Capricorn has already identified seven target zones for exploration within the project tenure at Claw which it considers highly prospective for gold mineralisation.

The highest priority target among these sits immediately adjacent to the Sundance prospect, which has been shown to host shallow gold mineralisation including intercepts of 16 metres @ 17.16 grams per tonne from 32m, 12m @ 2.74g/t from 40m and 12m @ 3.86g/t from 48m.

Mt Gibson Expansion

The strategic move will see Capricorn add the Claw tenements that cover approximately 398 square kilometres and share a border to the south of Capricorn’s Mt Gibson project.

“The acquisition of the Claw gold project continues the expansion of Capricorn’s Mt Gibson exploration footprint and adds highly prospective targets very close to the company’s current resources,” Capricorn executive chair Mark Clark said.

“This provides Capricorn with an outstanding exploration opportunity with a view to adding meaningful additional ore sources to the Mt Gibson operation.”

Mr Clark said Capricorn would commence broad scale geological and regolith mapping, and geochemical sampling to build on the understanding of the currently defined target areas in the lead-up to drilling in the second half of FY26.

Forelands Gold Acquisition

Capricorn has agreed to outlay $1.5 million, of which it has paid an initial cash deposit of $100,000 with a further $500,000 cash consideration on completion and payment of the $900,000 balance in Capricorn shares.

The company has also agreed to make contingent deferred payments of $750,000 in cash upon the announcement of a JORC compliant mineral resource estimate at Claw in excess of 75,000 ounces of gold and a matching $750,000 upon Capricorn announcing a board decision to commence commercial mining at the site.

BPM chief executive officer Oliver Judd said the sale would provide additional available funds to allow the company to explore its recently acquired high-grade Forelands gold project.

“The company has further upside to Capricorn’s exploration success through contingent milestone payments [and] is now in a great position with around $3.5m of available funds and an exciting new project with near term resource conversion opportunities and significant exploration potential in an overlooked area, 150km from Kalgoorlie.”