Caprice Resources Ltd (ASX: CRS) is fast-tracking its exploration of the Island Gold Project, the Murchison region of Western Australia, with a second RC rig added to the programme.
To date, 46 holes for 4,700m have been completed of the 77 hole programme.
Managing Director, Andrew Muir, said the second drill rig will enable the program to be completed in time for the commencement of the Lake Austin aircore programme.
The RC programme has tested the New Orient, Baxters, Golconda, Vadrians Hill and Vadrians North prospects so far.
Face sampling at Vadrians North has highlighted the prospectivity for gold mineralisation within the banded iron formation (BIF), with a 17m long exposure averaging 3.25g/t gold. This included two higher grade zones with a 7m traverse averaging 5.4g/t gold and a 2m traverse averaging 5.4g/t gold. A number of holes in the current program are testing the depth extensions of this mineralisation.
The drilling continues on the IGP, undertaking more expansionary exploration of new targets as well as large stepouts of previously identified mineralisation. The second rig will enable us to speed up the RC programme to get results through quicker, as well as ensuring completion before the aircore programme on Lake Austin commences,” Mr Muir said.
“The Vadrians North face samples have highlighted the potential of that prospect, and we look forward to the drilling at depth, as well as from the remaining prospects. We look forward to ongoing newsflow from our drill campaigns over the next few months which will provide significant insight into the potential of the Island Gold Project.”
Vadrians North Sampling
Detailed mapping was completed across the Vadrians and Vadrians North prospects of the Island Gold Project. As part of the mapping process, a series of face samples were collected across the west face of an historical excavation at Vadrians North.
A total of 18 face samples were systematically collected across the exposure. The samples were taken orthogonal to the strike of the BIF unit to ensure a representative sample. Sample lengths varied between 1.2m and 2.5m with an average sample weight of 2.7kg.
Mr Muir said that based on mapping and sampling, the results correlate well with several structural features including:
• Moderately south-east dipping quartz veins,
• Shallow east to horizontal vein and fracture sets associated with either sulphide replacement, chlorite alteration or carbonate alteration / veining; and • Sub-vertical east-west oriented faults.
These results highlight the diversity of different mineralisation styles within the Island Gold Project. Significantly, it demonstrates that BIF hosted mineralisation is not constrained to a single discrete feature.
Based on the face sampling results, mineralisation is associated with several features common throughout the Project. This supports the Company’s view that there is potential for a broader style of BIF hosted mineralisation across the IGP, in addition to the narrow but high-grade style of mineralisation associated with the Baxters and Golconda prospects.
The RC drilling at the IGP is ongoing, and we expect this to be completed in the next few weeks.
Following the RC drilling, a large aircore programme is due to commence on Lake Austin. This will be the first time Lake Austin has been drill tested within the IGP and will provide significant insights as to the geology and structures underneath the lake.
