Diamond Drilling Hits 11m at 7.1 g/t Gold, Extending Vadrians Deposit 100m Deeper

Strong Continuity Confirmed at Vadrians

Caprice Resources Ltd (ASX:CRS) has delivered another encouraging update from its Island Gold Project in Western Australia's prolific Murchison region. The latest batch of diamond drilling results from the Vadrians deposit reveals a substantial extension of high-grade gold mineralisation, with a standout intercept of 11 metres grading 7.1 grams per tonne (g/t) gold, including a richer 3-metre section at 25.3 g/t from a depth of 353 metres.

This new data pushes the known mineralised zone a further 100 metres down plunge, now exceeding 300 metres vertical depth, and confirms the strong continuity of the gold system along strike and at depth. The Vadrians system itself stretches over 1,000 metres in strike length and at least 400 metres vertically, with mineralisation remaining open in multiple directions, a promising sign for future resource growth.

Expanding the High-Grade Domain

The recent drilling results have notably expanded the high-grade gold zone, increasing the vertical extent of the >50 gram x metre gold domain from approximately 150 metres to 250 metres down plunge. This represents a significant step-change in the scale and potential of the deposit, with implications for the ounces per vertical metre metric that is critical in assessing underground mining viability.

Caprice’s Managing Director, Luke Cox, emphasised the consistency and scale of the mineralisation, highlighting that the system remains open both down plunge and along strike. With multiple zones yet to be tested, ongoing diamond and reverse circulation drilling programs are actively targeting these extensions, aiming to further delineate and grow the resource footprint.

Broader Exploration Pipeline

Beyond Vadrians, Caprice is advancing exploration across its broader Murchison portfolio. Assays are pending for 90 air core holes testing the easterly Banded Iron Formation (BIF) corridor north of Vadrians, an area with historical gold workings and geological similarities to the main deposit. Results from this program are expected in April and could reveal additional “Vadrians lookalike” targets.

Meanwhile, follow-up drilling is underway to test northern strike extensions and further down-dip zones at Vadrians. Additional air core drilling is planned for late April to early May to evaluate high-priority targets identified through recent gravity and magnetic surveys.

Progress at Comet and Chobe Projects

Caprice is also making headway at its Comet Gold Project, with systematic geological mapping and target generation underway. The company is establishing a pipeline of drill targets based on surface geochemistry and historical data, aiming to unlock further discoveries in the region.

At the Chobe Project in the West Arunta, a recently completed aeromagnetic survey and upcoming heritage and ground gravity surveys are set to refine drill targets in this emerging mineral province. These efforts underscore Caprice’s strategy of disciplined, multi-project exploration to build long-term shareholder value.