Caprice Resources Identifies Mukinbudin Rare Earth Anomaly

THE DRILL SERGEANT: Caprice Resources (ASX: CRS) has joined the ranks of the rare earth explorers on the back of recent activity at the company’s Mukinbudin rare earth element project in Western Australia.

Caprice Resources is undertaking reconnaissance exploration to enhance its understanding of the REE potential of the project.

A recent sampling program tested three areas in the southern half of the tenement, resulting in identification of a soil anomaly on an area called QC2, which coincides with an outcropping zoned pegmatite.

Caprice reported the anomaly to be at least 300 metres long producing both rock chips and soil samples elevated in REEs (up to 3,761ppm REOs) and remains open along strike.

The average heavy rare earth element (HREE) component from the samples is over 19 per cent.

“This initial exploration work is highly encouraging and confirms the prospectivity of the project,” Caprice Resources managing director Andrew Muir said in the company’s ASX announcement.

“Whilst the sampling only tested three specific targets, to identify elevated REEs in one of these is an excellent outcome.

“The results justify follow up work to further assess QC2 to delineate drill targets, as well as continue to explore other parts of the 380 square kilometre project, with only 20 per cent of the tenement having been actively explored to date.”

Caprice flagged further sampling is planned to test the remaining strike length of QC2, as well as to systematically assess other areas for REE bearing pegmatites.

Follow up sampling is due to commence next week.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE