Australia's Sentinel concludes acquisition of Capricorn's US-based Big Springs gold project

Wed Aug 26 2026

ASX-listed Sentinel Metals has completed the acquisition of the Big Springs gold project in Nevada from Capricorn Metals and is planning an initial 10,000 m drilling campaign.

The acquisition gives Sentinel a two-million-ounce North American gold resource base across two US mining jurisdictions.

Big Springs has an existing mineral resource of 15.5-million tonnes grading 2 g/t gold, containing 1.01-million ounces of gold, with further exploration potential. Historical mining at the project produced approximately 386,000 oz of gold from seven open pits between 1987 and 1993.

Previous exploration identified several high-grade ore shoots that remain open at depth and have been largely untested by modern drilling. Sentinel also sees significant exploration potential across the broader 93 km² landholding.

Sentinel's other major asset is the Columbia gold/silver project in Montana, which contains 920,000 oz of gold and 3.1-million oz of silver.

The acquisition consideration included A$8.5-million in cash and 8.6-million Sentinel shares valued at A$5-million. A further A$12.5-million contingent payment may become payable if specified resource, share-price or transaction milestones are achieved.

Capricorn Metals will continue focusing on its Karlawinda and Mt Gibson projects in Western Australia.

Source: https://www.miningweekly.com