Caprice Resources Ltd (ASX:CRS) Returns Exceptional High-Grades up to 34.9 G/T Gold!

12 February 2025

Price Sensitive Announcement $

Highlights:

• Island Gold Project drilling intersects multiple zones of thick, shallow, high-grade gold
  mineralisation across numerous targets, open in multiple directions along 5km of strike
• Significant gold intercepts at Vadrians Hill include:
• 28m @ 6.4 g/t from 114m downhole in 24IGRC009, including:
  12m @ 7.8 g/t from 114m; and
  4m @ 16.4 g/t from 130m and a further mineralised sequence up-dip;
• 27m @ 3.0 g/t from 48m downhole in 24IGRC009, including:
  4m @ 4.9 g/t from 61m; and
  5m @ 6.9 g/t from 69m
• 15m @ 4.6 g/t from 112m downhole in 24IGRC008, including:
  9m @ 7.0 g/t from 113m
• Significant gold intercepts at Baxter/Golconda include:
• 9m @ 2.8 g/t from 27m downhole in 24IGRC001, including:
  3m @ 5.8 g/t from 30m
• 12m @ 3.9 g/t from 90m downhole in 24IGRC001, including:
  6m @ 5.9 g/t from 94m
• 8m @ 1.5 g/t from 114m downhole in 24IGRC002, including:
  2m @ 4.6 g/t from 118m
• 5km of highly prospective strike to be tested with numerous identical structures identified between the New Orient and Shamrock historical gold workings
• Multiple thick, stacked high-grade gold lodes intersected at depth and down plunge from surface workings that remain open in several directions with drilling constrained to less than 100m vertical depth – Substantial maiden resource opportunity
• 5,000m RC drill programme recommenced at the Island Gold Project:
  • Phase 1 comprising 10 RC drill holes for 1,554m completed in December 2024
  • Phase 2 comprising 30 RC drill holes for approximately 3,500m in progress

Overview:

Caprice Resources Ltd has provided an update on its Phase 1 Reverse Circulation (RC) drill programme at the Island Gold Project. Phase 1 drilling has returned exceptional thick, high-grade gold intersections from testing previously unrecognised, high-grade, structurally controlled, cross-cutting “Break of Day”1 analogue gold targets.

Company Notes:

CEO, Luke Cox, commented:
“It’s a great pleasure to be delivering these exceptional gold results from our Island Gold Project December drill programme. These first 10-holes of the planned 40-hole drill programme have highlighted mineralisation thickening and increasing grade down plunge compared to the near surface gold mineralisation. Even more encouragingly, multiple stacked lodes were intersected by this drilling.

“Identical structural settings are present in historical workings at the New Orient Gold Mine in the north and at Shamrock in the south, and these fertile structures have been mapped at multiple locations within the host banded iron formations along the five kilometres of strike connecting these historic workings; providing numerous additional greenfield targets and highlighting an enlarged scale to the project.

“The Phase 2 RC drill programme will continue to test this highly prospective structural corridor through Baxter, Golconda and Vadrians Hill, before moving north to test additional cross-cutting structures, with the objective of delivering a potentially significant Island Gold Project maiden resource in the coming months.”

Full ASX Announcement: Caprice Resources Ltd ASX Announcement