Caprice Resources Limited will this week commence an 8,500-metre Reverse Circulation (RC) drilling program at the Island Gold Project (IGP), located in the Murchison region of Western Australia.
The program will be located on the Island portion of the Project and will be testing multiple new targets, as well as extensions to previously identified mineralisation.
Some of the targets are associated with north-west striking structures, identified from a recent gravity survey. Such north-west structures may control mineralisation, as recently identified by Musgrave Minerals Ltd (see MGV’s ASX announcement dated 30 June 2021) on tenements located immediately to the west of the IGP.
Following the RC program, a large aircore program will test 75 per cent of the IGP that is covered by Lake Austin. This area has had no previous drilling of note due to the lake cover, yet it has a high degree of structural complexity which enhances its prospectivity.
Managing Director of Caprice, Andrew Muir, said the RC program is the first step in the company’s expansionary exploration strategy testing for new mineralisation.
“The IGP has already demonstrated its high-grade nature, and we are optimistic of delineating new mineralised areas on the Island. The gravity survey has enabled the refinement of our interpretation of the IGP structural regime. This has significantly improved target identification, not only on the Island, but also under Lake Austin.”
“We will progressively test these targets, starting with RC drilling on the Island this week, and then the aircore drill program on Lake Austin,” Mr Muir said.
Caprice Resources holds a 100 per cent interest in the IGP. The company acquired the project in October 2020 and undertook its maiden drill campaign in November 2020.