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Highlights
Capricorn Metals secures agreement to acquire BPM Minerals' Claw Project
Acquisition expands Mt Gibson footprint with multiple exploration targets
BPM to focus on Forelands Project following deal completion
Gold exploration and development activity continues to gather pace in the ASX 200 sector, as Capricorn Metals Ltd (ASX:CMM) confirms a binding agreement to acquire the Claw Project from BPM Minerals Ltd (ASX:BPM). The Claw Project, located in Western Australia, is viewed as an addition to Capricorn’s growing presence near the Mt Gibson operation.
The agreement signals further expansion in one of Capricorn’s core regions, as the company seeks to consolidate high-value exploration targets within proximity of its existing infrastructure.
Claw Project Positioned Near Existing Resource Base
The Claw Gold Project spans a large landholding and is believed to host multiple geological features that align with gold mineralisation. Capricorn sees the addition of Claw as highly strategic, complementing its exploration and resource development efforts in the Mid-West region.
With the asset sitting close to the Mt Gibson deposit, Capricorn views Claw as a logical extension to its current operations. Seven drill-ready targets have already been outlined by the company, which intends to progress its understanding through structured early-stage exploration.
Structured Exploration to Commence at Claw in FY26
Capricorn plans to initiate geological and regolith mapping across the Claw site in the early stages of the next financial year. Geochemical sampling is expected to support further delineation of high-priority drilling zones.
Pending completion of the acquisition, resource modelling and exploration programs are expected to follow a methodical timeline, targeting additional resource definition. The company has signalled that drilling activities could commence in the second half of the financial year, depending on results from initial fieldwork.
Transaction Terms Include Milestone Payments and Due Diligence
As part of the agreement, Capricorn will complete its due diligence prior to finalising the cash and equity transaction components. Additional milestone-linked payments are structured around future resource announcements and operational development milestones at Claw.
BPM Minerals, following this transaction, will retain a cash position to support ongoing exploration across its other portfolio assets. The Forelands Project is expected to remain the company’s near-term exploration focus.
Strategic Footprint Expands Across Western Australian Gold Belt
Capricorn Metals remains focused on gold exploration and development across both the Pilbara and Mid-West regions of Western Australia. With the acquisition of Claw, the company reinforces its commitment to long-term resource growth within one of the country's most established gold belts.
