Caprice Resources (ASX: CRS)

Reported initial results from air core drilling completed at the Island Gold Project.

A total of 161 AC holes systematically tested the easterly banded iron formation (BIF) corridor north and south of the Vadrians deposit.

 

 

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	Caprice Resources	ASX: CRS
	Stage	Exploration
	Metals	Gold
	Market cap	A$67 million  @A$0.095 c
	Location	Western Australia
	Website	www.capriceresources.com

 

 

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Caprice Resources  – Air Core Drilling Defines New targets at Vadrians

 

Caprice Resources Ltd (ASX: CRS) (Caprice or the Company) is pleased to report initial results from air core (AC) drilling completed at the Island Gold Project (IGP, Island or the Project).

A total of 161 AC holes systematically tested the easterly banded iron formation (BIF) corridor north and south of the Vadrians deposit.

This area hosts numerous historical gold workings with structural and geological settings analogous to Vadrians.

Results from the first 71 AC holes returned from the southern half of the Island Gold Project, drilled on nominal 200m line x 40-80m on-line spacings, has confirmed anomalous gold across four significant target areas south of Vadrians.

Given the semi-depleted nature of gold in the weathered profile near surface observed at Vadrians broad scale low amplitude AC gold anomalism can be suggestive of the potential for higher grade mineralisation in the fresh rock beneath.

These encouraging new targets will be followed up with deeper reverse circulation (RC) drilling which is currently being planned.

 

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HIGHLIGHTS

• Air core drilling successfully defines multiple early-stage gold targets south of Vadrians, expanding the potential of the Island Gold system and generating several follow up areas for testing with deeper RC drilling.
• Four priority southern targets delineated, comprising:
– First Light: 200m of anomalous strike associated with northwest cross-cutting structure:
▪ 8m at 1.27 g/t gold from 56m downhole in 25IGAC048
– Evening Star: 250m of anomalous strike directly south of Vadrians:
▪ 4m at 1.41 g/t gold from 44m downhole in 25IGAC018, and
▪ 4m at 1.01 g/t gold from 16m downhole in 25IGAC027
– Eureka: 250m of anomalous strike directly south of Baxter:
▪ 4m at 1.78 g/t gold from 28m downhole in 25IGAC011
– Chicago: 300m of anomalous strike directly south of Evening Star:
▪ 4m at 0.85 g/t gold from 28m downhole in 25IGAC043 where the hole ended in
mineralisation
• Phase 4 drilling is complete, with assays pending for 5 diamond holes including RC pre-collars
and remaining 90 AC holes. Results expected throughout March 2026.
• Follow-up RC drilling is underway, targeting northern strike extensions and depth continuity
at Vadrians. Assays pending.
• Further air core drilling currently being planned to test additional high-priority targets
identified through gravity and magnetics.

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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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