- Caprice Resources (CRS) has begun drilling at its Island Gold Project in Western Australia’s Cue Goldfield
- A few days ago Caprice entered a binding term sheet with Goldview Metals to acquire 100 per cent of the company and the Island Gold Project
- To obtain the 100 per cent, Caprice will issue 16.8 million shares, pay off $80,000 of Goldview’s debt, and spend $1 million on exploration
- This upcoming drilling will consist of 32 holes with a focus on historically significant and regional targets
- Caprice has ended the day 3.95 per cent in the green with shares trading for 39.5 cents each
Caprice Resources (CRS) has begun drilling at its Island Gold Project in Western Australia’s Cue Goldfield.
A few days ago, Caprice entered a binding term sheet with Goldview Metals to acquire 100 per cent of the company and the Island Gold Project.
To obtain the 100 per cent ownership, Caprice will issue 16.8 million shares to Goldview, with 70 per cent going to Goldview’s majority shareholder, Michael Caruso.
Caprice will also pay off $80,000 of Goldview’s debt and spend $1 million on exploration.
This upcoming drilling will consist of 32 holes, for 3000 metres, with focus on historically significant and regional targets.
“We are excited to have commenced drilling at our newly acquired Island Gold Project,” Executive Director Scott Patrizi said.
“Shareholders can now look forward to the drilling which will aim to test the shallow targets that follow up on the limited historical holes that have delivered exceptional results,” he added.
Caprice has ended the day 3.95 per cent in the green with shares trading for 39.5 cents each in a $25.11 million market cap.