Caprice Resources Ltd (ASX: CRS), an Australian gold and base metals exploration company focused on maximising shareholder value through unlocking new mineral discoveries, has announced high-grade gold drilling results from its Island Gold Project (IGP). The results stem from the ongoing Phase 4 Drilling Programme, with drilling having recommenced in early January to complete the final 7,000 metres.
The company reported significant assay results from the Vadrians prospect, including 4 metres at 30.6 g/t gold from 255 metres downhole in drill hole 25IGRC095D and 19 metres at 4.6 g/t gold from 152 metres downhole in 25IGDD0006, including 9 metres at 9.1 g/t gold. Drilling has confirmed gold mineralisation to at least 400 metres vertical depth and over 1,000 metres in strike, showing strong grade continuity and depth extensions. A new high-grade quartz reef discovery in the footwall of Vadrians also returned 1.2 metres at 14.4 g/t gold from 205 metres downhole in 25IGDD0006.
Drilling recommenced in the first week of January, with approximately 1,000 metres of diamond drilling and 6,000 metres of air core drilling remaining to complete the planned 20,000-metre Phase 4 Programme. Caprice MD, Luke Cox, stated that starting 2026 with a great set of assay results, drilling restarting, and record high gold prices sets the scene for further success at the Island Gold Project and the company’s wider Murchison Gold package.
In parallel, field exploration has commenced across the newly acquired Comet Project, beginning with on-ground reconnaissance and mapping. The company has a strong laboratory pipeline, with assays pending for 10 diamond holes and 70 air core holes, with results expected to begin returning from late January to early February.
