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Highlights
- Capricorn to acquire Claw Gold Project from BPM Minerals
- Seven drill-ready targets identified for near-future exploration
- BPM gains capital for advancing Forelands Project
Capricorn Metals (ASX:CMM), a member of the ASX 200 companies, has signed a binding agreement to acquire the Claw Gold Project from BPM Minerals (ASX:BPM), further strengthening its foothold in Western Australia’s gold-rich terrain. The acquisition marks a strategic expansion of Capricorn’s Mt Gibson operations, positioning the company to unlock new exploration opportunities.
The Claw Project spans 398 square kilometres and is considered highly prospective for gold mineralisation. It encompasses diverse geological settings favourable for hosting gold deposits. With this addition, Capricorn is aligning its exploration focus on areas adjacent to its existing resources in the Mid-West region.
As part of the agreement, Capricorn has committed to an upfront payment of $1.5 million to BPM, comprising a mix of cash and shares. A $100,000 deposit has already been transferred. Additionally, BPM stands to receive up to $1.5 million in deferred milestone payments, tied to future discoveries and the commencement of mining activities at Claw.
The acquisition aligns with Capricorn’s strategy to grow its resource base organically through targeted exploration. The company has already delineated seven drill-ready zones at Claw. Exploration efforts are set to begin in Q2 FY26, with large-scale geological and regolith mapping, along with geochemical sampling, to enhance target understanding. This preparatory work will inform drilling activities expected in the second half of FY26.
The Claw Project offers more than just acreage—it presents a valuable opportunity to unearth meaningful ore sources that could potentially feed into Capricorn’s Mt Gibson operations. With the addition of Claw, Capricorn is increasing its exploration pipeline while retaining a disciplined, data-driven approach to resource development.
On the other hand, this deal significantly boosts BPM Minerals’ financial position. Upon completion, BPM will hold approximately $3.5 million in cash, earmarked to accelerate exploration at its Forelands Project, which is also situated in Western Australia.
This transaction underscores the dynamic and collaborative nature of Australia’s gold exploration sector, where asset optimisation and strategic acquisitions remain key levers for growth. With Claw now in its fold, Capricorn Metals continues to advance as a prominent player in the gold mining industry.
