Caprice Resources reports strong high-grade gold assay results from its Island Gold Project, confirming mineralisation continuity and new reef discoveries. Drilling has restarted to complete the Phase 4 programme, while exploration begins at the newly acquired Comet Project.
- High-grade gold assays up to 30.6 g/t over 4m at Vadrians
- Gold mineralisation confirmed to 400m depth and 1,000m strike
- Phase 4 drilling recommenced with 7,000m remaining
- New high-grade quartz reef discovered in Vadrians footwall
- Early-stage exploration underway at Comet Project
Strong Assay Results Reinforce Island Gold Potential
Caprice Resources Ltd (ASX – CRS) has kicked off 2026 with a compelling update from its Island Gold Project in Western Australia's prolific Murchison goldfields. The company reported a fresh batch of high-grade gold assay results from its ongoing Phase 4 drilling programme, highlighting significant mineralisation continuity and new discoveries that could extend the project's footprint.
Notably, drill hole 25IGRC095D returned an impressive 4 metres at 30.6 grams per tonne (g/t) gold from 255 metres downhole, while another hole, 25IGDD0006, intersected 19 metres at 4.6 g/t gold, including a high-grade 9-metre section at 9.1 g/t. These results confirm that the Vadrians lode remains robust, extending to at least 400 metres vertically and over 1,000 metres along strike.
Drilling Resumes to Complete Phase 4 Programme
Following these encouraging results, Caprice has recommenced drilling to complete the remaining 7,000 metres of the Phase 4 programme, comprising approximately 1,000 metres of diamond drilling and 6,000 metres of air core drilling. The focus remains on testing the strike, dip, and down-plunge extensions of the Vadrians gold system, aiming to refine geological models and guide future exploration efforts.
Alongside the Vadrians lode, the company has identified a new high-grade quartz reef in the footwall, with assays including 1.2 metres at 14.4 g/t gold. This discovery adds a fresh target within the broader banded iron formation-hosted system, underscoring the project's exploration upside.
Expanding Exploration Horizons with Comet Project
In parallel with drilling at Island Gold, Caprice has initiated early-stage field exploration at its recently acquired Comet Project. Initial activities focus on reconnaissance, mapping, and access assessments to build a pipeline of high-quality gold drill targets. This strategic move complements the company’s core growth strategy in the Murchison region and could unlock additional value for shareholders.
Managing Director Luke Cox expressed optimism about the year ahead, citing the combination of strong assay results, renewed drilling activity, and a record gold price environment as factors positioning Caprice for sustained success. The company’s systematic approach to exploration and resource definition aims to advance the Island Gold Project towards a maiden Mineral Resource Estimate.
Looking Ahead
With a robust pipeline of assays pending and ongoing drilling campaigns, Caprice Resources is poised to maintain momentum in delineating what could become a significant new gold discovery in the Murchison goldfields. The evolving geological understanding and new high-grade targets provide a promising outlook for the company’s exploration portfolio.
Bottom Line?
Caprice’s latest results and renewed drilling activity set the stage for a pivotal year in defining the Island Gold Project’s potential.
Questions in the middle?
- How will pending assay results influence the upcoming Mineral Resource Estimate?
- What is the potential scale and grade continuity of the newly discovered quartz reef?
- How might exploration at the Comet Project impact Caprice’s growth trajectory?