Capricorn Metals Ltd has entered into a binding agreement with Latitude 66 Limited to acquire the Piastri Project tenement package in the Mid-West region of Western Australia for $1.5 million in fully paid ordinary shares.

The transaction consideration will be settled through the issue of shares upon completion, valued at the 20-day volume-weighted average price prior to completion. The granted exploration licence covers approximately 15.2 square kilometres of largely untested strike contiguous to Capricorn’s existing Golden Range tenure.

The tenement package sits approximately 200 metres east of mining infrastructure related to the Ricciardo deposit, which comprises 24.5 million tonnes at 2.5 grams per tonne gold-equivalent for 1.96 million ounces of gold-equivalent within the north-south trending Yalgoo-Singleton Greenstone Belt. The ground is considered prospective for shear-hosted gold and antimony mineralisation along the Mougooderra shear zone, with only shallow historic drilling completed across parts of the strike.

Capricorn has identified several target zones for exploration within the newly acquired tenure. Following completion, the company plans to conduct geological and regolith mapping at the Piastri Project, followed by geochemical sampling and targeted drilling.

The acquisition builds upon Capricorn's regional consolidation in the Mid-West, following its updated pre-feasibility study for the Mt Gibson gold project in July 2026.

Read the full announcement: Acquisition of Piastri Project