Caprice Resources Completes West Arunta Acquisition

THE BOURSE WHISPERER: Caprice Resources (ASX: CRS) has purchased real estate in the highly prospective rare earth hotspot of the West Arunta region of Western Australia.

Caprice Resources has completed acquisition of 90 per cent of the Bantam project consisting of four tenements (one granted, three applications), providing it with the fourth largest land holding in the region.

The project is adjacent to and shares a 30km long border with WA1 Resources’ (ASX: WA1) West Arunta project, host to the world class Luni niobium-REE discovery.

Caprice has taken confidence from the WA1 Luni and Pachpadra niobium discoveries, along with Encounter Resources’ recent Crean niobium discovery, which it considers have highlighted the region’s prospectivity for niobium and rare earths, generating a new geological model targeting niobium rich carbonatites, hosted within carbonate rich subduction zones along regional and local fault zones.

“With the formal completion of the Bantam project, following our comprehensive due diligence review, encompassing geological, geophysical, tenement and heritage considerations, we are now ready to commence our exploration activities in the West Arunta,” Caprice Resources chairman Glenn Whiddon said in the company’s ASX announcement.

“The acquisition secures Caprice a commanding land position, the fourth largest ASX-listed exposure, in this highly fertile and chronically underexplored region which is being proven to host world class discoveries.

“Geophysical works will commence this month and we look forward to building our relationship with the local Kiwirrkurra community as we work through the appropriate heritage approvals process.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE