- Caprice Resources (CRS) is set to begin an 8500-metre reverse circulation (RC) drilling program at the Island Gold Project (IGP) in Western Australia
- Drilling will test multiple new targets as well as extensions to previously identified mineralisation
- Following the RC drilling, Caprice will undertake an aircore drilling program to test the 75 per cent of the IGP that is covered by Lake Austin
- Due to the lake cover, this area has had no previous drilling yet it has a high degree of structural complexity which enhances its prospectivity
- Caprice has ended the day five per cent in the green with shares trading at 21 cents
Caprice Resources (CRS) is set to begin an 8500-metre reverse circulation (RC) drilling program at the Island Gold Project (IGP).
The Island Gold Project lies in Western Australia’s Cue Goldfield and consists of two granted mining leases and one exploration licence.
It is situated 630 kilometres north of Perth and hosts multiple high-grade targets that are being systematically explored.
Drilling will focus entirely on the island portion of the project and will test multiple new targets as well as extensions to previously identified mineralisation.
Following the RC drilling, Caprice will undertake an aircore drilling program to test the 75 per cent of the IGP that is covered by Lake Austin.
Due to the lake cover, this area has had no previous drilling yet it has a high degree of structural complexity which enhances its prospectivity.
Managing Director Andrew Muir is keen to begin work and is optimistic about receiving high-quality results.
“This RC program is the first step in our expansionary exploration strategy testing for new mineralisation. The IGP has already demonstrated its high-grade nature, and we are optimistic of delineating new mineralised areas on the island,” Mr Muir commented.
“The gravity survey has enabled the refinement of our interpretation of the IGP structural regime. This has significantly improved target identification, not only on the island, but also under Lake Austin.”
“We will progressively test these targets, starting with RC drilling on the island this week, and then the aircore drill program on Lake Austin.”
Caprice has ended the day five per cent in the green with shares trading at 21 cents in a $13.21 million market cap.