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- Active and growth focused explorer with strategically located assets with systematic exploration in under-explored areas yielding exciting results
- Island Project: the more than one-kilometre gold anomaly at Solis is a “potential game changer”
- First mover advantage in the Northampton Project targeting base metals
- Risk/reward profile is outstanding that excites many investors given substantial growth potential
- Current market value is close to “shell value” and board members are highly motivated with 20 per cent ownership of the company
In a volatile, underperforming market, the search for investment opportunities can be confusing and nerve-wracking.
There’s an understandable tendency for conservative investing, the downside of which is the lack of “pay off” at the end of the day.
But investors who take a longer-term view whilst remaining alert to the possibility of more immediate benefits are beginning to pay more attention to players like Caprice Resources (CRS).
Caprice is a junior that is actively exploring for gold and base metals across two under-explored but historically productive areas. It exhibits the kind of risk/reward profile that excites many investors given its substantial growth potential.
When viewed through the lens of the size of the company’s market cap and the quality of projects, Caprice appears to be on the verge of a breakthrough that could rapidly elevate its status in our crowded market.
Solis – on the edge of a major discovery?
In March 2022, Caprice announced the identification of a regolith gold anomaly spanning more than one kilometre at the Solis Prospect within the Island Gold Project (IGP) in the Murchison area of Western Australia.
The initial findings were produced from broad-spaced drilling.
Caprice Managing Director Andrew Muir told The Market Herald that the find is “potentially a game changer” and said the anomaly is “very big, and very different to other mineralisation we’ve encountered, and given the size of other deposits in the region, incredibly exciting.”
Caprice acquired 100 per cent of the IGP in late 2020 and has undertaken over 10,000 metres of reverse circulation (RC) drilling on the project to assess the size and quality of the mineralisation.
However, Solis had never been tested before and the company undertook broad aircore drilling at the prospect to test for low-level gold with the drill program yielding multiple intercepts grading more than 1g/t gold, including some up to 3.6g/t gold.
The company has just completed follow-up RC drilling at Solis to test the depth extents of the initial aircore results. These assays should be due within the next few weeks and will give a good insight into what the mineralisation does in fresh rock.
Mr Muir said that the location of the IGP is very strategic given that it straddles the Great Northern Highway and is within trucking distance of two processing plants available nearby.
This has many benefits if the company finds a sufficient quantity of gold mineralisation, as well as the possibility of leading to corporate activity.
Northampton Project offers base metal opportunities
In addition to highly encouraging developments and future possibilities emerging from the IGP, Caprice Resources is also active in the historically bountiful area of Northampton, some 50 kilometres north of Geraldton in Western Australia.
With an exploration area covering a massive 1170 square kilometres, in a region that produced large quantities of lead, copper, silver and zinc in the past, the company’s approach is to ramp up its search for base metals, as well as “keep our eyes open” for any other commodities or opportunities that may arise.
Mr Muir noted that while the Northampton Project has previously been generous in producing base metals, most of the old mines did not proceed beyond a depth of 100 metres, and the mining and exploration techniques of the time limited the scope for further development.
“We’re looking at some very interesting mineralisation on our exploration leases, and while the base metals that were traditionally mined there are almost certainly present, given the presence of pegmatites on the site we’re also on the lookout for lithium and rare earths,” Mr Muir told The Market Herald.
But wait, there’s more…
In addition to these two major exploration projects, Caprice also has the Cuddingwarra and Big Bell South projects – both of which are joint ventures with Golden State Mining, in which Caprice owns a majority 80 per cent share.
Both projects are in areas where exploration has previously been relatively limited, largely involving mapping and soil/auger sampling with sporadic aircore drilling. Like the IGP, Cuddingwarra and Big Bell South are located in the Murchison region.
Mr Muir told The Market Herald that given the geology of the area and the rich dividends it has provided to miners over many years, the company has high expectations of all projects in the Murchison region.
“The area has been very prolific for miners for a long period of time,” he said. “And while we can never be absolutely assured of a discovery, the geology and the history of the area are outstanding and position us very well for success.”
Is Caprice the complete package?
Investors seeking an appropriate level of risk to reward in an environment where returns have been less than stellar for the last year or so, would be well advised to take a look at Caprice Resources.
Here is a company that is highly leveraged to exploration success, driven by a board that combines “grey hair” experience with youthful enthusiasm, and who between them own some 20 per cent of the company – so they have “skin in the game”.
Far from putting all its eggs in one basket, Caprice has chosen several projects in proven areas, each of which has the potential to deliver substantial success.
In the Solis prospect, tantalising results are due soon, and in all of the other exploration programs, every day brings the team closer to achieving its goals.
All this in an investment which, at current trading – 8.5 cents as of 22 July 2022 – is as close to shell value as you’re likely to get in the present market.
