Caprice Resources Ltd (ASX: CRS) has identified a number of new targets with ongoinf exploration work at the company’s Mukinbudin Rare Earth Element Project 250km northeast from Perth in Western Australia.
Ongoing soil and rockchip sampling has delineated three new targets, with coherent elevated REE results at the Hadrian’s, QC3 and Quarry prospects. This is in addition to the 1,000m long REE soil anomaly already defined at Gadolin.
The Hadrian’s prospect has similar geological and geographical characteristics to Gadolin, with an outcropping quartz ridge and associated alteration, in close proximity to a porphyritic granite outcrop. Results for a single sampling traverse have yielded multiple coincident results in excess of +1,000ppm REO, with a peak value of 2,428ppm REO. Follow up sampling has already been completed, with results expected in mid-late July.
The QC3 and the Quarry prospects are also located on key geological features and outcrop, both returning REE grades significantly above background. Sampling to extend both prospects will be undertaken in coming weeks, as well as further reconnaissance sampling in other areas.
At Gadolin, the latest results have confirmed that within the overall 1,000m strike, there is a coherent higher-grade area of consistent +1,000ppm REO, coincident with porphyritic granite outcrop and subcrop.
Managing Director, Andrew Muir, said Gadolin is the largest and most advanced prospect to date and is likely to be the first target tested in the maiden drill program planned for this quarter.
“We are very pleased with the work to date at Mukinbudin. Each sampling program we have undertaken has enhanced the prospectivity of the Project, with four targets now delineated.
The next round of sampling will commence in the next few weeks, which should improve our understanding of the Hadrian’s, QC3 and Quarry prospects, ahead of drilling in the current quarter,” Mr Muir said.
The Mukinbudin Project consists of one tenement, E70/5939, covering 380 sq. km. The tenement is located approximately 25km northwest of the town of Mukinbudin.
Next steps
The next round of sampling will commence within the next two weeks. Follow-up sampling and mapping at QC3 will be combined with regional exploration to assess new areas.
All sampling is aimed at delineating targets to be tested via RC drilling.
Whilst exploration to date has focussed on primary pegmatite-hosted REE, the potential for clay REE mineralisation has emerged with recent drill success of peers in the immediate region.
In addition, we are very excited by the possibility of enriched REE in granitic bodies, as evidenced from the sampling at surface at Gadolin, as well as elevated REE’s in deeper drilling results by peers.
