Caprice Strikes High-Grade Gold at Island

Caprice Resources Ltd (ASX: CRS) has announced exceptional results from its Phase 2 Reverse Circulation (RC) drill program at the Island Gold Project. Drilling intersected multiple zones of thick, shallow, high-grade gold mineralisation across numerous targets, open in multiple directions along five kilometres of strike. Significant intercepts at the Vadrians prospect include 11m @ 6.7 g/t gold from 1m downhole and 20m @ 1.5 g/t gold from 106m downhole. The Vadrians’ high-grade gold mineralisation expanded to 250m along strike, 100m up dip, and 70m down dip. A new discovery 250m south of Vadrians, potentially a repeat structure, yielded 22m @ 2.3 g/t gold from 168m. Significant extensional intercepts at the Baxter Prospect include 10m @ 3.0 g/t gold from 13m and 17m @ 1.1 g/t gold from 11m. Five kilometres of untested strike, with +30 prospective structural targets, hold further discovery potential. Existing drill testing is shallow, restricted to less than 100 vertical metres below the surface. The company plans a 5,000m Phase 3 RC drill program in Q2 CY2025, comprising 40 RC drill holes. CEO Luke Cox highlighted the potential for a significant maiden resource at the Island Gold Project, located between Ramelius Resources Ltd and Westgold Resources Ltd gold processing facilities. The Island Gold Project’s mineralisation shows similarities to high-grade gold deposits in the Murchison Goldfields, particularly the BIF host rocks and cross-cutting structures.