Caprice bolstered as resources veteran Rob Waugh appointed chairman

• Caprice appoints former Musgrave Minerals managing director Rob Waugh as non-executive chairman
• Waugh replaces Glenn Whiddon and brings a strong track record of team discovery success and corporate experience
• He is also intimately familiar with the geology of the company’s tenements in the Murchison region

Special Report: Caprice Resources has strengthened its board with the appointment of former Musgrave Minerals managing director and veteran resources executive Rob Waugh as non-executive chairman.

Waugh has a strong track record of team discovery success, successful study advancement and wealth creating mergers & acquisitions covering a range of commodities including gold, copper, nickel, platinum group elements, uranium and lithium.

He was part of the team that discovered the Nebo-Babel nickel-copper deposit in WA’s West Musgrave region, the Cobbler gold deposit at Norseman and the Duke Batman and Honeypot uranium deposits in Queensland.

However, it is his tenure with Musgrave Minerals that is particularly relevant to Caprice Resources (ASX:CRS).

Waugh played a pivotal role in Musgrave’s initial public offering through to the acquisition of the Cue gold project.

He was also involved in the significant Break of Day, White Heat and Big Sky gold discoveries at Cue and Musgrave’s subsequent acquisition by Ramelius Resources (ASX:RMS) in late 2023 for more than $200m.

Notably, the tenements surrounding CRS’ Island gold project were the original tenements owned by Musgrave and Waugh is perhaps more familiar than anyone else about the geology of the area.

Waugh replaces Glenn Whiddon who will step down after a short transition period.

Invaluable leadership

CRS non-executive director Scott Deakin said the board welcomed Waugh’s appointment and expected his leadership to be invaluable as the company progressed its Murchison gold projects.

“It’s further validation of the company’s strategy and efforts since repositioning the company over the past 12 months,” Deakin said.

“I’m excited to join the strong and dedicated team at Caprice who have done exceptional work in the last 12 months with outstanding results from the Island Gold Project near Cue in Western Australia and in securing a strong landholding in the emerging Arunta region of Western Australia,” Waugh said.

Listen: A new player in the Murchison gold game

Island project

The 21km2 Island project in WA’s Murchison region contains many of the historical gold mines of the Lake Austin gold mining centre.

It is adjacent to the Great Northern Highway and sits about 630km north of Perth, 60km north of Mt Magnet and 20km south of Cue.

Recent phase 1 & 2 drilling returned multiple thick, high-grade gold intersections from previously untested, structurally controlled, cross-cutting gold targets analogous to the high-grade Break of Day deposit across 5km of strike.

This included a top result of 28m at 6.4g/t gold from 114m at the Vadrians prospect, which was then followed up and down-dip, returning respective intersections of 11m at 6.7g/t gold from surface and 20m at 1.5g/t gold.

Results extended the high-grade mineralisation 250m along strike, with depth and repeat gold structures now due for their own follow-on with a phase 3 drill campaign set to begin this month.

Success at Island and the rest of CRS’ Murchison ground could unlock significant gold ounces between Mt Magnet and Cue, which host more than 15Moz of the precious metal.

This article was developed in collaboration with Caprice Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.