Caprice Resources Limited (ASX: CRS) is a recently listed minerals exploration company based in Australia. It aims to increase shareholders value by exploring and exploiting the mineral resource projects.
On 10th April 2019, the company announced that it has received multiple high-grade rock chip results from a successful rock chip sampling campaign which was carried out and completed at the Northampton Project in Western Australia in which the company owns 100% interest. This sampling was focused on the Nooka Prospect from where a total of 13 samples were collected. Nooka Prospect is situated in close proximity to the historical producing lead-copper mine Wheal Fortune.
The samples were taken from known targets in the Nooka prospect which targeted mineralisation within a shear zone trending 040-050N and dipping 70o to the west. The mineralogy of the samples consisted of chalcopyrite, sphalerite, galena and pyrite while secondary mineralisation included malachite, azurite and covellite. The best results from the samples were
- Chiverton 1: 10.8% Pb
- Chiverton 2: 16.5% Pb
- Nooka Main 1: 2.9% Pb
- Nooka Main 2: 4.8% Pb, 2.9% Cu, 5.2% Zn
The company is conducting a follow-up exploration through first-pass auger drilling campaign with approximately 50 holes till its completion.
The commencement of the field-based exploration at Northampton Project was already being announced by the company on 27th February 2019. The activities were aimed to define base metals targets at the Nooka Prospect. The company had also designed an initial program of works after going through a desktop review of all available data. These works included the geochemical sampling of which the results are being announced today. It had also approached private landholders on which the Wheal of Fortune and Kirtons Prospects reside for access and surface rights.
The company successfully got listed on the ASX on 3rd December 2018; trading commencED on 5th December 2018 following an IPO of A$4.5 million at A$0.2 per share.
Wild Horse Hill Project – Northern Territory
This project covers an area of over 231kmsq and is located in the Pine Creek mineralogical terrain. The company has submitted its mine management plan to seek approval for an initial 56 hole 5,600m RC drilling program. Geological mapping and geochemical sampling are some of the other exploration activities to be undertaken at the site.
Northampton Project – Western Australia
The project hosts a large number of historic silver, lead, zinc and copper producing mines that date back to 1850. The company believes that the projects have been identified highly prospective for both lead and copper mineralisation. Initially, it will focus on areas on vacant crown land while negotiations with landowners continue.
The company has a market cap of A$6.22 million. The stock shot up by 5.2% and made an intraday high of A$0.215, while closing the day’s trading at A$0.20 as of 10th April 2019. Since the commencement of trading on 5th December 2018, the stock has given a negative return of 2.5%; YTD return stands at 11.76%.
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