Caprice Resources Generates New Mukinbudin REE Targets

THE DRILL SERGEANT: Caprice Resources (ASX: CRS) is enjoying exploration results recently achieved at the company’s Mukinbudin Rare Earth Element (REE) project in Western Australia.

Recent results from ongoing soil and rockchip sampling delineated three new targets, with coherent elevated REE results at the Hadrian’s, QC3 and Quarry prospects.

This is in addition to a 1,000 metres long REE soil anomaly already defined at Gadolin.

Caprice explained the Hadrian’s prospect to have similar geological and geographical characteristics to Gadolin, with an outcropping quartz ridge and associated alteration, in close proximity to a porphyritic granite outcrop.

Results for a single sampling traverse have yielded multiple coincident results in excess of +1,000ppm rare earth oxide (REO), with a peak value of 2,428ppm REO.

Follow up sampling has already been completed, with results expected in mid-late July.

The QC3 and the Quarry prospects are also located on key geological features and outcrop, both returning REE grades above background.

Sampling to extend both prospects will be undertaken in coming weeks, as well as further reconnaissance sampling in other areas.

“We are very pleased with the work to date at Mukinbudin,” Caprice Resources managing director Andrew Muir said in the company’s ASX announcement.

“Each sampling program we have undertaken has enhanced the prospectivity of the project, with four targets now delineated.

“The next round of sampling will commence in the next few weeks, which should improve our understanding of the Hadrian’s, QC3 and Quarry prospects, ahead of drilling in the current quarter.”

 

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