Capricorn Metals announced a significant 380,000 ounce, or 26%, increase in the ore reserve estimate at the Mt Gibson Gold Project, bringing the total to 1.83 million ounces of gold.

The boost follows a comprehensive drilling campaign covering 89,543 meters over the past year.

The update supports Capricorn's trajectory towards over 250,000 ounces of annual gold production and total gold reserves surpassing 3 million ounces.