Caprice Resources (ASX: CRS) has extended the vertical depth of the Vadrians prospect within its ++Island gold project++ in Western Australia, following the receipt of high-grade intercepts from Phase 4 drilling.
Assays from the first 14 holes of the total 20,000-metre aircore, reverse circulation (RC), and diamond campaign returned grades of up to 100-gram-metres and intercepted gold mineralisation a further 100m down plunge to a vertical depth of 300m, where it remains open.
Best results from the Vadrian’s strike extension were 13m at 7.7 grams per tonne gold from 242m including 7m at 13.9g/t from 246m and 3m at 15.3g/t gold from 234m, while depth extension work produced a best assay of 12m at 3.6g/t gold from 323m including 6m at 6.5g/t.
Increased Model Confidence
The assays have increased the company’s confidence in the geological model and confirmed that gold mineralisation continues with depth.
The rest of the Island target corridor remains open along a 5 kilometre x 1km strike, with limited to no drilling on most targets and only the Vadrians, Baxter, and New Orient prospects explored to depths greater than 150m.
The fully-funded Phase 4 campaign will continue into the new year, with RC and diamond work providing the density required to support a robust resource model.
Caprice will also use air core drilling to test the broader Island system for new gold discoveries.
Gold Potential at Depth
Managing director Luke Cox said the company’s discovery-focused drilling strategy indicated considerable gold potential at depth and along strike within Island.
“The consistent occurrence of high-grade intercepts at depth — particularly within the Vadrians system which is recognised for its elevated gold concentrations — supports the assessment of continuity and scalability of Island’s mineralisation envelope,” he said.
“The combination of shallow and deeper intercepts suggests opportunities for lateral and vertical expansion of the maiden resource opportunity and establishes a solid basis for continued exploration and potential development.”
Caprice is targeting the delineation of a maiden mineral resource estimate for the Island gold project with high-grades, continuity and scale.
