AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- Caprice Resources reports significant high-grade gold intercepts at its Island Gold Project.
- Phase 1 drilling reveals multiple thick, shallow mineralized zones, with grades up to 16.4 g/t gold.
- CRS shares jump 108% to 5.4 cents following the drilling update.
Caprice Resources Ltd (ASX:CRS) has announced exceptional high-grade gold intersections from its Phase 1 Reverse Circulation (RC) drilling at the Island Gold Project. The results confirm the presence of multiple thick, structurally controlled gold lodes, resembling the highly prolific "Break of Day" analogue targets.
The most notable intercepts from the Vadrians Hill target include:
- 28m @ 6.4 g/t gold from 114m, including:
- 12m @ 7.8 g/t
- 4m @ 16.4 g/t
- 27m @ 3.0 g/t gold from 48m, including:
- 5m @ 6.9 g/t
Significant results were also reported from the Baxter/Golconda targets, with intercepts including:
- 9m @ 2.8 g/t gold from 27m
- 12m @ 3.9 g/t gold from 90m, including:
- 6m @ 5.9 g/t
These findings confirm the presence of a 5km-long mineralized strike, with multiple stacked, high-grade gold lodes remaining open at depth.
Ongoing Exploration and Future Potential
With strong Phase 1 results, Caprice has now recommenced a 5,000m RC drill program, aiming to expand its discovery further. The program includes:
- Phase 1: 10 RC holes (1,554m) – completed in December 2024
- Phase 2: 30 RC holes (~3,500m) – currently in progress
The company sees a significant maiden resource opportunity, given that drilling remains shallow (less than 100m depth) and the mineralization is open in multiple directions.
CRS Share Price Soars 108%
Following the announcement, Caprice Resources’ shares surged 108% to 5.4 cents in morning trade on 12 February 2025.
