Caprice Resources expands drill program on path to maiden Island gold resource

Caprice Resources has expanded the Phase 3 drill program aimed at defining a maiden gold resource for its Island project in WA.

Caprice Resources has expanded its Phase 3 drill program. Pic: Getty Images

• Caprice Resources expands Phase 3 drilling at Island gold project by 2000m to 7000m

• Additional holes added to drill program at Vadrians and New Discovery prospects

• Drilling aimed at defining a significant maiden high-grade gold resource at Island

Special Report: Previous drilling success along strike and at depth have prompted Caprice Resources to expand the Phase 3 drill program at its Island gold project in WA’s Murchison region by 2000m to 7000m.

The 21km2 Island project is adjacent to the Great Northern Highway and about 630km north of Perth, 60km north of Mt Magnet and 20km south of Cue.

Recent Phase 1 and 2 drilling by Caprice Resources (ASX:CRS) returned multiple thick, high-grade intersections from previously untested, structurally controlled, cross-cutting gold targets analogous to the high-grade Break of Day deposit across 5km of strike.

These included a top hit of 28m at 6.4g/t gold from a down-hole depth of 114m at Vadrians prospect while more recent step-out drilling following up on prior drill hits returned 22m at 2.3g/t from 16m including 2m at 14.1g/t.

About 4000m of the current program has been completed to date.

“The Phase 3 RC drilling is progressing very well with additional holes and depths being added to the program at Vadrians, New Discovery and the area immediately in between,” chief executive officer Luke Cox said.

“The focus is to deliver a significant maiden high-grade gold resource at Caprice’s Island gold project, which is strategically located between Ramelius Resources and Westgold Resources gold processing facilities in the highly prospective Murchison district of Western Australia.

“We have also kicked off the gold soil sampling program at Cuddingwarra and received our Entry Permit for the West Arunta.”

Aerial view of Island project corridor showing historical shallow gold workings and drill locations. Pic: Caprice Resources

Other activity

CRS has started a significant soil sampling program at the Cuddingwarra project in the Murchison region to test new gold targets along a northeast trending corridor.

This follows up on mapped structures and previously identified visible gold.

Cross-cutting structures identical to those associated with Westgold’s Cuddingwarra open pit mining area have been mapped 500m to the east.

Listen: Explorers Podcast: Caprice making golden gains in the white hot Murchison

The company has also received a Section 31 Entry Permit for the West Arunta exploration tenements, which follow on a Land Access Agreement signed with the Tjamu Tjamu aboriginal corporation in September 2024.

A pre-paid aerial magnetic survey is now scheduled to be carried out during the 2025 exploration season.

Additionally, the Geological Survey of Western Australia is considering a state government funded aerial geophysical survey over West Arunta, which will provide considerable data and cost savings for CRS once completed.

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.

Originally published as Caprice Resources expands drill program on path to maiden Island gold resource