Capricorn Metals (ASX:CMM) Expands Exploration Footprint with Kings Find Project Acquisition

3 min read | March 13, 2025 12:06 PM AEDT | By Team Kalkine Media

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Capricorn Metals (ASX:CMM) Expands Exploration Footprint with Kings Find Project Acquisition — Image source: shutterstock

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Highlights

Capricorn Metals (ASX:CMM) acquires Kings Find Project for $1.5 million

Exploration plans set for 2025 with mapping and geochemical sampling

Potential future payments tied to resource estimates and mining operations

Capricorn Metals (ASX:CMM) has taken a strategic step to enhance its gold exploration portfolio by securing the Kings Find Project from Serena Minerals Limited. The acquisition deal, valued at $1.5 million, includes an initial cash deposit of $100,000, with the remaining amount to be settled through Capricorn shares. Additionally, Serena Minerals will retain a 1% net smelter royalty on mineral sales. Subject to procedural conditions, the transaction is expected to conclude by March 2025.

Strategic Location and Exploration Potential

The Kings Find Project spans approximately 54 square kilometres, positioned adjacent to Capricorn's Mt Gibson Gold Project in Western Australia's Murchison region. The site is considered highly prospective for gold mineralisation, featuring four distinct target zones located near the Great Northern Highway. With historical small-scale prospecting activities and a position within the Yalgoo-Singleton Greenstone Belt—an area known for significant mineral deposits—this acquisition aligns with Capricorn’s strategic expansion in the region.

Exploration Roadmap for 2025

Capricorn has outlined an extensive exploration program, with activities set to commence in the fourth quarter of 2025. The company plans to undertake broad-scale geological and regolith mapping, coupled with geochemical sampling, to identify potential drilling targets for the 2026 fiscal year.

Future financial commitments include contingent payments of $750,000 each, triggered by key milestones such as announcing a JORC-compliant Mineral Resource Estimate exceeding 100,000 ounces of gold and initiating a stand-alone commercial mining operation at Kings Find.

Strengthening Capricorn’s Gold Portfolio

Executive Chairman Mark Clark expressed confidence in the acquisition, highlighting its potential to bolster the company’s gold resource base. He noted that the Kings Find Project presents an excellent opportunity to expand exploration efforts and enhance the Mt Gibson operation by adding new high-potential targets.

“This acquisition strengthens Capricorn’s exploration portfolio by integrating highly prospective targets near our existing resources. It represents an outstanding opportunity to add meaningful additional ore sources to Mt Gibson,” Clark stated. The company looks forward to commencing active exploration in 2025, aiming to unlock further gold potential within the region.

With this expansion, Capricorn Metals continues to solidify its position in Western Australia’s gold mining sector, focusing on sustainable growth and resource development.

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