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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
Drilling Commenced at Viani in Fiji
HIGHLIGHTS
- The Phase 1, three-hole diamond drilling program has commenced at the Viani Project, Fiji and will test for extensions to the quartz vein gold mineralisation at depth.
- Phase 1 is expected to be completed in early 2025, with plans for additional drilling under the same program dependent on the initial results
- The Viani Project (SPL1513) covers an area of approximately 200km2 and is largely underexplored.
- At the Dakuniba prospect within Viani, low sulphidation epithermal high-grade gold mineralisation has been mapped over >3km strike length.
- Diamond drilling completed by Japan International Cooperation Agency (JICA) in 1995 to 1997 intersected high-grade gold in low sulphidation epithermal quartz veins, including 0.6m @ 27.6 g/t Au.
Alice Queen’s Managing Director, Andrew Buxton said,
With drilling underway, Alice Queen is positioned to test the epithermal gold-style mineralisation identified in historic drilling at the Viani Project. Weather permitting, we anticipate completing the Phase 1, three-hole diamond drilling program in early 2025. Following this, our exploration team will mobilise the drill rig to the Sabeto Project in Fiji to maintain the momentum of this campaign. To deliver timely results to shareholders, we intend to accelerate the analysis of the drill core at ALS Brisbane.”
Image 1 – Diamond drilling at Viani
Details
Geology
The geology of the Viani Project (SPL 1513) comprises olivine basalts and volcaniclastics of the Natewa Volcanic Group which are intruded by andesite sills and dykes. In the 1940s, gold mineralisation was found by local prospectors near the village of Dakuniba. At Dakuniba, low sulphidation style epithermal gold occurs in quartz veins, and silicified rocks along a 3km long NE trending zone.
In 1995-1997, Japan International Cooperation Agency (JICA) drilled six diamond holes at Dakuniba and intersected high-grade gold in chalcedonic, crustiform, colloform banded quartz veins at depths of 50m to 100m below surface (i.e. MJVFV-5 intersected 2.2m @ 11.3 g/t Au, incl 0.6m @ 27.6 g/t Au at 121m downhole). This high-grade gold mineralisation is open in all directions.
Proposed Drill program
The initial Phase 1 drill program at Viani (see Table 1) will comprise three diamond drillholes designed to test continuity to the epithermal gold mineralisation previously intersected in JICA drillhole MJVFV- 5 (2.2m @ 11.3 g/t Au) (see Figure 2). The drilling will test for extensions to the gold mineralisation at depth and along strike.
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This article includes content from Alice Queen 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.
