Caprice Resources steps up hunt for mineral riches in West Arunta

• CRS begins aeromagnetic survey at gold, copper and niobium prospective project
• West Arunta project sits in same region as the recent, successful Luni niobium discovery
• The survey is expected to be completed and processed by late Q4 CY2025

Special Report: Caprice Resources has started a high-resolution aeromagnetic survey on the hunt for minerals, including niobium, rare earths and copper-gold, at its West Arunta project in WA.

The region has emerged in recent times as one of Australia’s most exciting mineral exploration frontiers, with discoveries including WA1’s (ASX:WA1) world-class Luni discovery with a mineral resource of 220Mt at 1.0% niobium.

Other notable discoveries include Encounter Resources’ (ASX:ENR) Crean discovery, highlighting the region’s prospectivity for niobium and rare earths.

The ~2,000km² West Arunta project is historically underexplored with clear iron oxide copper-gold (IOCG) prospectivity and boasts multiple high-priority targets, including targets analogous to Luni.

No wonder then, that Caprice Resources (ASX:CRS) is focused on uncovering new large-scale, high-value copper-gold and/or carbonatite systems comparable to the best provinces in the world.

The aeromagnetic survey is being conducted in conjunction with a district-scale aeromagnetic survey commissioned by the Geological Survey of Western Australia (GSWA), the results of which could define high-quality drill targets without incurring additional exploration expenditure.

Region hosts world-class potential

An initial desktop review indicates strong magnetic and gravity responses indicative of targets similar to WA1’s and ENR’s mineralised carbonatites and with IOCG deposit prospectivity, as targeted by neighbour and recent successful IPO, Tali Resources.

“A window of opportunity presented itself to opportunistically acquire high-resolution magnetics across our West Arunta tenements while GSWA flew the first district-scale survey across the region,” CRS CEO Luke Cox said.

“Caprice holds a commanding 2,000km² land position in the heart of one of Australia’s most fertile and underexplored new mineral provinces, which is already demonstrating world-class potential with multiple recent discoveries, including WA1’s Luni Carbonatite.

“This aeromagnetic program represents the first step in our systematic approach to exploring the area and proving up quality targets, and when combined with the upcoming ground gravity survey, will provide the necessary information to deliver a systematic, high-impact maiden drilling campaign.”

The survey is expected to be completed and processed by Q4 CY2025.

Planning is now underway for a follow-up ground gravity program to inform initial priority drill locations for the company’s maiden ground exploration campaign.

Meanwhile, at Caprice’s flagship Island Gold Project, the Phase 4 drilling programme is set to commence. More than 20,000m of Air Core and RC holes are scheduled to begin to test the project’s significant gold potential at depth.

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.