Join our daily newsletter At The Bell to receive exclusive market insights
- Caprice Resources (CRS) reports more high-grade gold hits from its recent 13-hole drilling program at the Solis prospect within its Island gold project in Western Australia
- The reverse circulation drilling effort returned multiple intercepts grading above one g/t gold, with the highest grade result being two metres at 6.4 g/t gold from 51 metres
- Caprice says the results suggest mineralisation may continue over more than 100 metres down-dip and 100 metres along-strike, and it remains open in all directions
- The company will now shift its focus to its Northampton polymetallic project in WA, where drilling is scheduled to begin in December
- CRS shares are up 8.33 per cent to trade at 6.5 cents at 2:15 pm AEDT
Caprice Resources (CRS) has reported more high-grade gold hits from reverse circulation (RC) drilling at the Solis prospect within its Island gold project in Western Australia.
The company completed phase two RC drilling in September, which followed up on initial RC results to assess strike and depth extensions to the mineralisation.
The 13-hole RC program returned numerous intercepts grading above one gram per tonne (g/t) gold, with a highest-grade result of two metres at 6.4 g/t gold from 51 metres.
Additional new results include one metre at 2.2 g/t gold from 62 metres and two metres at 1.5 g/t gold from 83 metres.
Caprice said the results suggested mineralisation may continue over more than 100 metres down-dip as well as 100 metres along-strike, and it remains open in all directions.
“This latest drilling has continued to deliver at Soils, with high grades on the mafic/high-magnesium basalt contact. All drill programs to date have resulted in encouraging results,” Managing Director Andrew Muir said.
The company said it originally planned to conduct aircore drilling in other areas of the Island project before the end of this year but has chosen to postpone this until next year while it drills at its Northampton polymetallic project in WA.
Drilling at the Northampton project is scheduled to start in December, subject to approvals and rig availability.
CRS shares were up 8.33 per cent to trade at 6.5 cents at 2:15 pm AEDT.
