Announcement Date: 2022-08-15
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Caprice Resources Ltd.
Project name: Island
Location: Australia
Commodities: Gold
Highlight: Drilling results incl. 4m @ 4.4g/t Au from 60m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Caprice Resources Ltd (ASX: CRS) (“Caprice” or “the Company”) is pleased to provide an exploration update for the Solis Prospect, at the southern end of the Island Gold Project (“IGP”, “Project”), located in the Murchison Region of Western Australia. Aircore drilling by Caprice at Solis earlier this year delineated a +1km long regolith gold anomalous zone. Recently completed RC drilling tested the anomalism down to c.100m depth compared to an average aircore depth of 30m. The RC returned multiple +1g/t intercepts in a range of different rock types and structures, with a best result of 4m @ 4.4g/t Au from 60m, including 1m @ 11.0g/t Au (see Figures 2 and 3). The RC drilling has confirmed that Solis has the potential to host meaningful gold mineralisation. The higher-grade intercept is associated with a sheared geological contact between mafic and high-Mg rocks. Other intercepts are associated with shearing, veining, and alteration. Broadly, the RC results reflected the shallower aircore results. However, the shallow penetration of the aircore in some areas has resulted in gaps of un-tested stratigraphy. The RC drilling identified high Mg basalts and intrusive sills which may be prospective for gold mineralisation, that were not recognised in the aircore. These areas will be assessed ahead of planning the next RC program.
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