- Caprice Resources (CRS) completes an aeromagnetic survey at its Northampton polymetallic project in Western Australia
- An initial review of the data highlighted several areas of interest, with further areas expected to be uncovered during a detailed interpretation early next year
- Caprice will also complete a second magnetic survey to test a large magnetic feature that has similarities to a magnetic anomaly seen at St George Mining’s Ajana project
- Additionally, the company plans to conduct reverse circulation drilling at the Yungaro area to target base metals mineralisation over 600 metres of strike
- Caprice shares are down 2.04 per cent to trade at 4.8 cents at 3:48 pm AEDT
Caprice Resources (CRS) has completed a high-resolution aeromagnetic survey at the Northampton polymetallic project in Western Australia.
Magspec Airborne Surveys completed the survey in October and targeted the western and southern blocks of the project. The company identified several areas of interest following an initial review of the survey data and will investigate these in the near future.
A detailed structural and lithological interpretation is scheduled for early next year, which is expected to result in the generation of additional targets.
The company will also carry out another aerial magnetic survey in the new year which will focus on a magnetic feature along the eastern margin of the Northampton project.
The magnetic feature is reportedly similar to the magnetic anomaly seen at St George Mining’s Ajana project, which is believed to be a layered mafic intrusion prospective for nickel-copper-platinum group elements (PGEs).
Caprice Managing Director Andrew Muir said the survey was “very illuminating” and emphasised the prospectivity of the region.
“The more we look into the geology and prospectivity of the region, the more excited we become about the project’s potential,” Mr Muir said.
Caprice Resources plans to undertake reverse circulation drilling next year to target base metals mineralisation over a 600-metre strike at Yungaro within the Northampton project.
Company shares were down 2.04 per cent to trade at 4.8 cents at 3:48 pm AEDT.