Australian-based gold producer Capricorn Metals has entered into a binding agreement with exploration company Tempest Minerals to acquire the prospective Yalgoo project tenement package in a A$4.5 million cash and scrip deal.
Yalgoo totals approximately 1,000 square kilometres with potential for further discovery across multiple commodities. It is located north of Capricorn Metals’ Mt Gibson gold project in the South Murchison region of Western Australia.
Under the agreement, tenements comprising the Yalgoo project will be transferred in full to Capricorn Metals free of any third-party commitments or royalties, while Tempest will retain ownership of the eastern tenements recently identified as bearing iron mineralisation. Tempest said it will grant Capricorn exploration and development rights in respect of all minerals other than iron ore on the Iron Tenements.
“The acquisition of the Yalgoo project continues the expansion of Capricorn’s Mt Gibson exploration footprint and adds highly prospective targets very close to the company’s recently acquired Golden Range and Fields Find projects,” said Capricorn Executive Chairman Mark Clark.
“This provides Capricorn with an outstanding exploration opportunity with a view to adding meaningful additional ore sources to [Mt Gibson gold project] and the region. We look forward to commencing active exploration on the project in 2026.”
Completion of the deal is expected in early 2026.
Sources: Tempest Minerals & Capricorn Metals