Caprice Resources Unearths More High-Grade Gold at Island Project
Caprice Resources has announced a series of significant gold discoveries at its Island project, nestled within Western Australia’s prolific Murchison goldfields. The latest drilling results have further bolstered confidence in the Vadrians deposit, with a standout intercept of 11 metres grading 7.1 grams per tonne (g/t) of gold from a depth of 353 metres. This crucial find extends the high-grade zone at Vadrians a remarkable 100 metres further down plunge.
This exceptional intersection, located in the southern reaches of the Vadrians system, also contained a more concentrated interval of 3 metres assaying a rich 25.3 g/t gold. The company also reported other encouraging results from its recent batch of assays, including 7 metres at 7.4 g/t gold from 295 metres and 5 metres at 2.7 g/t gold from 240 metres.
According to Caprice Resources, recent diamond drilling in the southern zone has now successfully intersected high-grade gold, quartz veining, and sulphides across multiple drill holes, reaching a vertical depth exceeding 300 metres. Critically, the mineralisation at Vadrians remains open at depth, presenting a high-priority target for ongoing and future drill testing. The deposit now boasts a substantial lateral extent of 1000 metres and plunges to at least 400 metres below the surface.
Luke Cox, Managing Director of Caprice Resources, expressed his enthusiasm for the latest findings. “These latest diamond drilling results continue to reinforce the scale and quality of the Vadrians system,” Cox stated. “We’ve clearly demonstrated high-grade gold extending along strike and at depth over substantial distances. The consistency of the mineralisation we are observing is building our confidence in the continuity of this emerging high-grade system.”
Intensified Drilling Efforts to Expand Vadrians and Unlock Corridor Potential
Management has highlighted that the Vadrians deposit remains open to the north and at depth, areas where drilling activities are actively continuing. The company anticipates that the ongoing and planned drilling programs will lead to further extensions of the system’s grade continuity and its overall mineralised footprint.
A significant 50,000-metre multi-rig drill program was recently initiated by Caprice Resources. The primary objectives of this extensive program are to deliver a maiden gold resource estimate for Vadrians and to thoroughly explore the potential of the underexplored, over 5-kilometre-long mineralised corridor at the Island project.
“Importantly, Vadrians is only one piece of the larger Island gold corridor puzzle,” Cox elaborated. “We have multiple targets that remain largely untested along strike. With a substantial volume of assays still pending and multiple drill rigs actively on site and being mobilised, we are extending our strong news flow pipeline.”
Assay results from 90 aircore holes, designed to test the 5-kilometre mineralised strike north of Vadrians, are anticipated next month. This northern area is particularly promising as it hosts historical workings that are interpreted to share similar structural and geological characteristics with Vadrians. Furthermore, Caprice has commenced follow-up reverse circulation (RC) and diamond drilling programs specifically targeting extensions of the currently defined mineralisation. Aircore drilling to investigate other high-priority targets, identified through recent gravity and magnetic surveys, is also scheduled for the coming weeks.
Expanding Exploration Beyond the Island Project
The ambitious 50,000-metre drilling campaign is not solely focused on the Island project. Caprice Resources is also directing its exploration efforts towards the underexplored Cuddingwarra gold project and approximately 30 kilometres of fertile greenstone belt within its Comet project.
On-the-ground geological field mapping is currently underway at the Comet project. This work involves the crucial task of locating historical drill collars and drill spoil piles, which will then be re-logged and sampled. Management has indicated that a robust pipeline of high-quality gold drill targets is being systematically established at Comet. These targets include areas situated to the north, east, and along strike of the historical Comet mine.
In a separate development, Caprice has concluded an aeromagnetic survey at its Chobe project, located in the West Arunta region of Western Australia. This project is considered prospective for a range of commodities, including niobium, rare earths, and IOCG-style mineralisation. The company is now planning a ground gravity survey to pinpoint specific drill targets, pending the completion of an upcoming heritage survey.
