Caprice Resources (ASX: CRS)

Advised that the air core drilling component of the Phase 4 drilling campaign is now underway at the Island Gold Project.

This AC programme forms part of the fully funded 20,000m Phase 4 drilling campaign, which also includes reverse circulation and diamond drilling.

 

 

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	Caprice Resources	ASX: CRS
	Stage	Exploration
	Metals	Gold
	Market cap	A$87 million  @A$0.12.5 c
	Location	Western Australia
	Website	www.capriceresources.com/

 

 

 

 

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CAPRICE COMMENCES AIR CORE DRILLING AT THE ISLAND GOLD PROJECT

 

Caprice Resources Ltd (ASX: CRS) (Caprice or the Company) is pleased to advise that the air core (AC) drilling component of the Phase 4 drilling campaign is now underway at the Island Gold Project (IGP, or the Project).

This AC programme forms part of the fully funded 20,000m Phase 4 drilling campaign, which also includes reverse circulation (RC) and diamond drilling.

 

Approximately 10,000m of AC drilling is scheduled to target high-impact strike extensions to the Vadrians deposit and test parallel banded iron formations
(BIFs) which represent new discovery targets within the IGP mining lease with demonstrated potential to host gold mineralisation.

The Company now has 3 rigs operating across the Island Gold Project, with diamond, RC and AC drilling forming a systematic resource definition and discovery programme.

 

 

 

 

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Caprice CEO, Luke Cox, commented:

“Our Phase 4 drill campaign continues to gather momentum, with the air core rig now joining the RC and diamond rigs onsite.

 

“This phase of drilling will systematically test for gold north and south of the Vadrians deposit, as well as adjacent gold-hosting BIFs that run parallel to the system. The work significantly expands our coverage across what is proving to be a highly fertile gold corridor within the Murchison.

 

“Looking further ahead, a particularly exciting lake-based air core drilling programme is scheduled to target the concealed BIF corridor beneath shallow colluvial cover and salt lake sediments.

 

“These areas have never been drilled despite lying within the same geological and structural corridor as our recently revealed gold systems.

 

“With deeper drilling continuing in parallel, the addition of the air core component will deliver a sustained period of news flow as we continue to unveil the IGP’s geological potential, situated on granted mining leases close to a number of operating mills in an environment of ongoing gold price strength.”

 

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To read the full news release please click HERE

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Disclosure

At the time of writing the author holds shares in Caprice Resources

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