Caprice Resources seeks to extend Island gold zones with 20,000m of drilling

• CRS intends to complete a combination of reverse circulation, aircore and diamond drilling in a 20,000m campaign
• Drilling will target the Vadrians, Condenser, West Star, Detector Gully, Iron Clad and Chicago zones
• 7,000m program at Vadrians designed to support maiden resource estimate

Special Report: Caprice Resources (ASX:CRS) has put drills to ground in a 20,000-metre phase 4 campaign designed to extend known zones and support a maiden resource estimate at the Island Gold Project (IGP) in WA.

The company intends to drill 7,000m of reverse circulation (RC) at Vadrians targeting depth and strike extensions, and to drum up data for a maiden mineral resource estimate (MRE) for the prospect.

Drilling efforts will then shift to a broader 5km by 1km target area, as well as greenfields discovery and historical targets along strike to the south of Vadrians.

Building toward maiden resource estimate

The lion’s share of the drilling will take place at Vadrians where previous CRS drilling produced results of up to 11m at 6.7 g/t Au from just 1m below surface and 11m at 17.3 g/t from 170m.

Caprice Resources CEO Luke Cox said the program continued where the company last left off, focusing on extending known zones of high-grade gold at depth and across the broader target area.

“The Phase 4 drill program, commencing at Vadrians, is moving into full swing,” Cox said.

“It has been designed to build on the success of our previous drilling campaigns as we progress towards delivering a maiden MRE at the IGP.

“The RC and diamond drilling combination is designed to provide the drill density required to support a robust resource model while also testing extensions to known mineralisation, providing valuable structural data and samples for preliminary metallurgical testwork.

“The aircore component will test the broader IGP target area for new discoveries hidden under lake sediment cover.”

Watch: Caprice CEO Luke Cox joins Stockhead TV to discuss the drilling campaign

Highly prospective geology

Caprice’s regional aircore program will begin later this year, once the salt lake dries sufficiently to allow access.

The program will investigate two concealed banded iron formation (BIF) gold trends and a high-titanium basalt formation along the western edge of the project tenure.

One BIF trend sits in the eastern and southern flank of the IGP while the other sits within a 1km-long corridor between New Orient and Vadrians prospects.

Concealed beneath shallow Lake Austin cover, the gold trend is entirely untouched by the drill bit at present, presenting a “compelling” opportunity, according to CRS management.

CRS says the IGP shows similar geology and structural features to that of other high-grade deposits within the Murchison Goldfields, where BIF units are capable of holding sizable gold bounties.

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.