Caprice Resources Expands Island Gold Targets with New Air Core Drilling Results

New Gold Anomalies Extend Island Gold Project Potential

Caprice Resources Ltd (ASX:CRS) has expanded the footprint of its Island Gold Project (IGP) in Western Australia with the release of final results from 161 air core (AC) drill holes. The recent campaign, targeting the easterly banded iron formation (BIF) corridor north and south of the existing Vadrians deposit, has uncovered multiple new shallow gold anomalies that broaden the project’s exploration scope.

The standout new zones include the Trig Gully target, which features a 500-metre gold anomalous trend coincident with a northwest cross-cutting structure, highlighted by intercepts such as 4 metres at 1.11 grams per tonne (g/t) gold from 12 metres downhole. Other promising targets include Orient Gully and Ironclad Extended, the latter showing over 250 metres of anomalous gold extending north from historical workings.

Structural Controls Reinforce Targeting Model

Caprice’s managing director Luke Cox emphasised the importance of these findings in validating the company’s structural targeting approach. The new anomalies align with key cross-cutting structures that are known to control mineralisation at Vadrians, the project’s flagship deposit. Cox noted that the shallow low-grade gold anomalism detected in the weathered profile may be indicative of higher-grade mineralisation at depth in fresh rock, a hypothesis that the ongoing reverse circulation (RC) drilling program aims to test.

This interpretation is consistent with previous drilling results, including high-grade intersections at Vadrians such as 11 metres at 7.1 g/t gold from 300 metres depth and 9 metres at 7.3 g/t gold approximately 150 metres north of the main deposit. These results were part of a broader extension of high-grade gold zone reported last month, which confirmed strong continuity of mineralisation along strike and at depth.

Follow-Up Drilling and Exploration Plans

The company has already commenced a substantial 50,000-metre drilling campaign combining RC and diamond drilling methods to follow up on these newly defined targets. Current RC drilling is focused on testing northern strike and depth extensions at Vadrians, as well as the new air core targets at First Light and Chicago. Additional air core drilling is also planned to explore priority structural targets along the western side of the island, including the Starlight basalt stratigraphic unit which may host analogue mineralisation to the Break of Day deposit.

Beyond the Island Gold Project, Caprice continues systematic geological mapping and data integration at its Comet Gold Project, commissioning Resource Potentials to refine structural interpretations and prioritise drill targets.

Early-Stage Results with Clear Exploration Upside

While the air core results represent early-stage exploration with generally low-grade, shallow gold anomalism, they provide a valuable pipeline of targets for deeper drilling. The semi-depleted nature of the weathered profile near surface, as observed at Vadrians and mirrored across these new targets, suggests that the true value may lie in untested fresh rock at depth. The company’s methodical approach to follow-up drilling aims to clarify this potential and advance towards a maiden mineral resource estimate for the Island Gold Project.