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Drilling

Caprice Resources Commences Phase 3 Drill Program at Island Gold Project

Strategic Insights

— 1 min read

Caprice Resources has initiated the Phase 3 Reverse Circulation (RC) drill program at its Island Gold Project, targeting a range of high-grade gold targets. The program aims to test structurally controlled gold targets and follow up on previous high-grade mineralization discoveries. The project has a total of five kilometers of underexplored strike hosting multiple gold mineralized structures associated with Banded Iron Formation (BIF) units.

Key Takeaways:

  • The 5,000m Phase 3 drill program has commenced at the Island Gold Project, targeting high-grade gold targets, including dip and strike extensions to Vadrians high-grade mineralization, new discovery step-out drilling, and southern strike extension to New Orient Gold Mine mineralization.
  • The program aims to test several untested "Break of Day" style structural targets along parallel BIF units over 4km of strike from the Ironclad prospect to the New Orient Gold mine.
  • The Island Gold Project has a highly prospective corridor hosting multiple gold mineralized structures associated with BIF units between the New Orient and Shamrock historical gold mines.
  • Historical drilling has been predominantly shallow, restricted to less than 100 vertical meters below the surface, leaving significant opportunity for deeper drilling.
  • The company plans to systematically test over 30 structural targets highly prospective for high-grade gold mineralization.
  • First assays are anticipated in June, and the company remains well funded to execute planned activities.
  • The Island Gold Project is strategically located between Ramelius Resources Ltd and Westgold Resources Ltd gold processing facilities in the highly prospective Murchison district of Western Australia.

Statistics:

  • The Phase 3 drill program will cover a total of 5,000m of Reverse Circulation drilling.
  • The Island Gold Project has a total of five kilometers of underexplored strike hosting multiple gold mineralized structures associated with BIF units.
  • Historical drilling has been predominantly shallow, with an average depth of 70 vertical meters below the surface.
  • The project has a pipeline of over 30 structural targets highly prospective for high-grade gold mineralization.

Sources:

  • CRS ASX announcements dated 1st April 2025
  • CRS ASX announcements dated 6th August 2020
  • CRS ASX announcements dated 20 December 2024
  • CRS ASX announcements dated 1st April 2025 (exact publication date not specified)

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