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Caprice Resources Ltd (ASX: CRS) (“Caprice” or “the Company”) is pleased to provide an exploration update for the Solis Prospect, at the southern end of the Island Gold Project (“IGP”, “Project”), located in the Murchison Region of Western Australia.
SUMMARY
- The maiden aircore program at Solis defined a +1km long regolith gold anomaly (see ASX 16 March 2022) from coarse spaced drilling.
- Recent infill aircore drilling has successfully confirmed the gold anomalism, yielding results consistent with the maiden program.
- Better results from the infill drilling include:
- 1m @ 3.6g/t Au from 37m,
- 1m @ 1.3g/t Au from 34m and
- 1m @ 1.0g/t Au from 17m.
- The program has tightened the hole spacing to 20-50m and given important insights into the dip of the anomalism within the regolith profile.
- The results from the infill program at Solis will be used to design an RC drilling program, which is scheduled for late June to early July.
The maiden aircore program at Solis in early 2022 delineated a +1km long regolith gold anomalous zone. The maiden program was drilled on 400m line spacing with 80m spaced holes. An infill program consisting of 39 holes for 1,146m was recently completed at Solis, tightening the hole spacing in the main anomalous areas.
The program has successfully returned grades in line with the maiden program and confirmed the +1km gold anomaly. In addition, the closer spaced drilling enabled a preliminary interpretation of the anomaly’s geometry within the regolith profile.
The information from the combined aircore programs has been used to plan a follow up RC program, which is scheduled for late June/early July. The RC program will look to test depths of c.100m, compared to the average aircore depth of c.30m, and will give insights into the mineralisation in fresh rock.
Managing Director, Andrew Muir, commented:
“The maiden aircore program at Solis was an exceptional success, generating a large-scale anomaly in an untested area. The scale and coherence of the anomaly is outstanding.
This infill aircore program has confirmed the +1km gold anomaly and, in addition, it has enabled Caprice to effectively plan deeper RC drilling to test for mineralisation in fresh rock. We look forward to assessing the depth potential within the next few weeks.”
Figure 1: Island Gold Project Prospects
Figure 2: Solis aircore collar locations, coloured by Max Au in hole, with Max Au contours.
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This article includes content from Infinity Lithium Corporation Limited , licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
CRS:AU
Quarterly Activity Report 31 March 2024
Figure 1. Fiery Creek Copper Prospect/Yataga Granodiorite summarizing rock (brown diamonds) and termite mound sample results (black crosses)
Continuing with its primary exploration focus on the Georgetown project in the latter half of 2023, EMU received assay results during the quarter from its second, in field reconnaissance work. The geochemical sampling programme covered the Fiery Creek high grade copper vein swarm and the Snake Creek prospects with significant element results returned from the Fiery Creek Copper (elevated Cu-Au-Ag-Bi-In-Pb-Sb-Te) and Snake Creek (elevated Pb-Ag-Au-Sb).
Whilst the survey was cut short due to inclement weather, EMU was encouraged by the significant success reflected in the assays results. The results from mineralogical studies confirmed EMU’s interpretation of an indicative, scale Copper-Porphyry system at the Fiery Creek prospect and was a highlight of the survey with new information building on the scale and potential of the prospect1.
Assay results returned included:
- Fiery Creek rock assay results up to 23.5% Cu, 0.27ppm Au, 460ppm Ag, 1.9% Bi, 89ppm In, 2.7% Pb, 667ppm Sb, 1470ppm Zn2.
- evidence of strong potential for the presence of critical and strategic minerals (Cu, Bi, In), with precious and base metals.
- evidence of alteration mineralogy, mineralisation geochemistry and areal extent of the Fiery Creek quartz-Cu-Bi vein swarm strongly suggesting a previously unrecognised subjacent porphyry Cu-Mo system.
- Yataga Granitoid Complex termite mound and coincident rock chip sampling returned several anomalous polymetallic zones for follow up.
- Snake Creek Prospect assays returned 0.20ppm Au, 390ppm Ag, 22.4% Pb, 464ppm Sb1.
Significant results were returned from the Fiery Creek Copper prospect with elevated Cu-Au- Ag-Bi-In-Pb-Sb-Te and from the Snake Creek prospect with elevated Pb-Ag-Au-Sb.
The elevated pathfinder element results and a macro-petrology assessment3 of rock samples completed by Mr Nigel Maund, Consulting Economic Geologist, from the previously unexplored Fiery Creek Prospect, point to the discovery of a porphyry copper system.
The sampling program assessed a number of high-priority prospects within the Georgetown Project tenements utilising termite mound and outcrop rock chip geochemistry. A total of 46 rock chip and 489 termite mound samples were collected across eight prospects.
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This article includes content from EMU NL, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Basin Energy Mining Exploration Entity or Oil and Gas Exploration Entity Quarterly Cash Flow Report
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This article includes content from Basin Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
