Caprice Resources shines spotlight on depth extensions at WA gold play

• CRS report high-grade depth extensions in latest drilling at its Island Gold Project
• Project hosts geological features similar to high-grade deposits in Murchison region
• Plans to delineate a maiden resource in the near-term

Special Report: The first batch of assays from RC and diamond drilling at Caprice Resources’ Island Gold Project extend the depth at Vadrians’ to ~300m below surface.

Mineralisation extends over a 5km strike length currently defined from the New Orient Prospect in the north to the Ironclad Prospect in the south.

This target corridor hosts multiple banded iron formation (BIF) units up to 30m thick, with geological and structural features closely mirroring those of other high-grade gold deposits across the +15Moz Murchison Goldfields.

Further standout intersections have been returned from the Vadrians prospect of up to 100-gram-metres and mineralisation has been intercepted an additional ~100m down plunge to a vertical depth of ~300m where it remains open.

Caprice Resources (ASX:CRS) expects to delineate a maiden Mineral Resource Estimate at the Island Gold Project (IGP) in the near-term.

Vadrians strike extension results include:

• 13m at 7.7 g/t Au from 242m downhole including 7m at 13.9 g/t from 246m; and
• 3m at 15.3 g/t Au from 234m.

Results also highlight the potential for the mineralised system to continue at depth, including 12m at 3.6 g/t Au from 323m downhole, including 6m at 6.5 g/t from 323m.

Infill and metallurgical results include:

• 10m at 12.8 g/t Au from 220m downhole;
• 6m at 6.3 g/t Au from 162m including 3m at 12.1 g/t from 164m; and
• 6m at 3.3 g/t Au from 66m.

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Even more targets to test

The mineralised corridor at the IGP contains a multitude of targets ripe for the discovery of additional high-grade gold lodes along strike – some of which are set to be tested as part of the Phase 4 20,000m air core, RC and diamond drilling program.

“The deep drilling intercept of 6m at 6.5 g/t gold from 323m downhole is a breakthrough moment for the team demonstrating the effectiveness of the geological targeting model and discovery focused drilling strategy that indicates considerable gold potential at depth and along strike within the Island gold project,” MD Luke Cox said.

“Deeper diamond drilling is underway to test potential depth extensions at Vadrians to 400m vertical depth, with assays pending.

“The consistent occurrence of high-grade intercepts at depth, particularly within the Vadrians system, which is recognised for its elevated gold concentrations, is notable and supports the assessment of continuity and scalability of the project’s gold mineralisation envelope.”

Cox said the combination of shallow and deeper gold intercepts suggested opportunities for lateral and vertical expansion of the maiden resource opportunity – establishing a solid basis for continued exploration and potential development.

“The Phase 4 exploration program is now in full swing and designed to build on the success of our previous drilling campaigns as we progress towards delivering a maiden MRE at IGP of grade and scale,” he said.

“The campaign will focus on extending known zones of high-grade gold mineralisation and further enhancing our geological understanding of the system.

“The combination of RC and diamond drilling is expected to provide the drill density required to support a robust resource model, while air core drilling will continue to test the broader IGP system for new gold discoveries.”

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.