Sonia Madigan:
Caprice Resources (CRS) has had a bullish run on the market after finding rare earths in rock chip samples from its Mukinbudin project in Western Australia. The company has also increased its exploration acreage at that project by more than 50 per cent. So it’s been a busy month for Managing Director Andrew Muir. He joins me now.
Welcome, Andrew.
Andrew Muir:
Thank you, Sonia.
Sonia Madigan:
So Andrew, what are the key takeaways from your news?
Andrew Muir:
We discovered a new prospect at Colosseum where we had half a per cent in rare earth at surface, which is a fantastic outcome. We also extended our Hadrian’s prospect to about over three kilometres, and we also expanded our QC three prospect to over one kilometre. And on top of that, we also expanded our ground pretty substantially. So look, we’re pretty happy with how things are progressing.
Sonia Madigan:
So you found rare earths in rock chip samples at surface. What does that suggest for beneath the surface?
Andrew Muir:
The fact that we’ve got half a per cent rare earth sitting on surface. We took 20 samples in the Colosseum prospect, 60 per cent of those are all elevated. They’re all over a thousand ppm. So very, very good indication how it look. Proof will be in the pudding when we put drilling into this, which we’re looking to do in the next sort of six to eight weeks.
Sonia Madigan:
Now, you mentioned that Caprice has also increased the landholding there by some 52 per cent. Can you tell us about that?
Andrew Muir:
We acquired 100 per cent of the project in December last year. However, we noticed that there was some ground that came available that were previous applications that got withdrawn. We’re also notified by some of our shareholders, and we’re really happy to have such passionate and engaged shareholders in what we’re doing. We now have almost 600 square Ks. The focus really to date, has been on the bottom third of the tenement that’s been granted. So it’s still got a large area to test. We’ve already identified five good-quality anomalies that we need to follow up on, and that’s just on that small portion that we’ve tested to date. So look, we’re pretty happy with how things are going so far.
Sonia Madigan:
So what happens next?
Andrew Muir:
The next cab off the rank will be looking to do our very first drill program. So we’ll be testing both Gadolin and Colosseum. It will be a modest-sized program, but this will be the very first time that we’ve drilled into the GNE material where we’ve been getting these elevated rare earth. So we’re really, really excited to do that. We’ve also got about a thousand reconnaissance soil and rock chip samples still waiting in the lab. So they’ll be coming through over the next sort of four to six weeks as well. So look, all and all, we’re really happy with how it’s progressing.
Sonia Madigan:
Now. Before we go, it was great to see you at Kalgoorlie for Diggers & Dealers. What was the feedback like from investors there?
Andrew Muir:
So we had a booth there in the small tent, which we’re actually really, really happy with. It was basically non-stop talking and presenting to investors from Monday morning through to about Wednesday afternoon. So, a very busy time. We got a lot of really good, positive feedback out of it, so it was a great conference for us.
Sonia Madigan:
Thanks so much for the update. Andrew Muir from Caprice Resources.