Caprice Sources Ltd (ASX: CRS) (“Caprice” or “the Firm”) is happy to supply an replace on its Part 1 Reverse Circulation (RC) drill programme on the Island Gold Challenge. Part 1 drilling has returned distinctive thick, high-grade gold intersections from testing beforehand unrecognised, high-grade, structurally managed, cross-cutting “Break of Day”1 analogue gold targets.
HIGHLIGHTS
- Island Gold Challenge drilling intersects a number of zones of thick, shallow, high-grade gold mineralisation throughout quite a few targets, open in a number of instructions alongside 5km of strike
- Vital gold intercepts at Vadrians Hill embrace:
- 28m @ 6.4 g/t from 114m downhole in 24IGRC009, together with:
- 12m @ 7.8 g/t from 114m; and
- 4m @ 16.4 g/t from 130m and an additional mineralised sequence up-dip;
- 27m @ 3.0 g/t from 48m downhole in 24IGRC009, together with:
- 4m @ 4.9 g/t from 61m; and
- 5m @ 6.9 g/t from 69m
- 15m @ 4.6 g/t from 112m downhole in 24IGRC008, together with:
- Vital gold intercepts at Baxter/Golconda embrace:
- 9m @ 2.8 g/t from 27m downhole in 24IGRC001, together with:
- 12m @ 3.9 g/t from 90m downhole in 24IGRC001, together with:
- 8m @ 1.5 g/t from 114m downhole in 24IGRC002, together with:
- 28m @ 6.4 g/t from 114m downhole in 24IGRC009, together with:
- 5km of extremely potential strike to be examined with quite a few equivalent buildings recognized between the New Orient and Shamrock historic gold workings
- A number of thick, stacked high-grade gold lodes intersected at depth and down plunge from floor workings that stay open in a number of instructions with drilling constrained to lower than 100m vertical depth – Substantial maiden useful resource alternative
- 5,000m RC drill programme recommenced on the Island Gold Challenge:
- Part 1 comprising 10 RC drill holes for 1,554m accomplished in December 2024
- Part 2 comprising 30 RC drill holes for about 3,500m in progress
CEO, Luke Cox, commented:
“It’s an awesome pleasure to be delivering these distinctive gold outcomes from our Island Gold Challenge December drill programme. These first 10-holes of the deliberate 40-hole drill programme have highlighted mineralisation thickening and rising grade down plunge in comparison with the close to floor gold mineralisation. Much more encouragingly, a number of stacked lodes had been intersected by this drilling.
“An identical structural settings are current in historic workings on the New Orient Gold Mine within the north and at Shamrock within the south, and these fertile buildings have been mapped at a number of places inside the host banded iron formations alongside the 5 kilometres of strike connecting these historic workings; offering quite a few further greenfield targets and highlighting an enlarged scale to the venture.
“The Part 2 RC drill programme will proceed to check this extremely potential structural hall by means of Baxter, Golconda and Vadrians Hill, earlier than transferring north to check further cross-cutting buildings, with the target of delivering a doubtlessly vital Island Gold Challenge maiden useful resource within the coming months.”
Gold Mineralisation
On the Island Gold Challenge (IGP), gold mineralisation happens alongside a strike size of 5km from the New Orient Gold mine within the north to the Skipper prospect within the south inside the IGP Hall (Determine 1). The IGP Hall is 700 to 1,000m huge and comprises a number of BIFs as much as 30m thick, that are the popular host rock for gold mines within the Murchison. Previous to the Firm’s latest Part 1 drill programme, drilling was restricted to a mean depth of 70 vertical metres beneath the floor. Part 1 RC drill gap 24IGRC009 intersected two thick sequences of mineralisation together with 28m at 6.4 g/t gold from 114m down gap and 27m at 3.0 g/t gold (Desk 1), highlighting the potential of the extremely potential 5km lengthy by 1km huge IGP Hall to host a number of vital gold ore our bodies.
Determine 1. Perspective aerial view of the IGP Hall exhibiting the situation of historic shallow gold workings.
Determine 2. Lengthy part alongside jap most Banded Iron Formation (BIF) highlighting gold mineralisation, plunging high-grade shoots and drilling constrained to lower than 100m vertical depth.
The IGP gold mineralisation and structural setting is displaying similarities to the high-grade gold deposits within the prolific +15Moz Murchinson Goldfields, with the important thing components for prime quality gold deposit formation being BIF host rocks and cross-cutting buildings controlling high-grade gold lodes current on the Firm’s IGP.
Excessive-grade gold mineralisation seems to be related to a collection of en’echelon vein units which have developed obliquely to the strike of the brittle and reactive host BIF. These en’echelon vein units development NNW-SSE and are sub-vertical to steep west dipping and are managed by a serious cross-cutting construction which additionally developments NNW-SSE (Figures 2 and three).
Excessive-grade gold mineralisation is managed primarily by these main NNW-SSE buildings, with ‘reef- fashion’ high-grade gold quartz lodes additionally developed in fold buildings the place the axial airplane of the fold developments 330° to 350° and fold hinges plunges 45° to 60° to the NNW.
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