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Caprice Resources Completes West Arunta Acquisition

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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

 

Caprice Resources Retrieves TREO Rock Chips from Mukinbudin

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THE DRILL SERGEANT: Caprice Resources (ASX: CRS) has identified a new exploration prospect at the company’s Mukinbudin rare earth element (REE) project in Western Australia.

Caprice Resources reported identification of the Colosseum prospect via a rock chip sampling program consisting of 20 rock chip samples, 13 of which returned values greater than 1,000ppm total rare earth oxide (TREO), with a peak value of 5,038ppm rare earth oxide (REO) (0.5% REO).

The prospect measures around 500 metres, encompassing a coarse granite outcrop.

On the back of recent activity, Caprice considers Colosseum to be a walk-up target for a pending drill program.

Other work carried out at Mukinbudin included follow up soil sampling at the Hadrian’s and QC3 prospects, which has confirmed REO anomalism.

The anomalism at Hadrian’s has been extended to over three kilometres and remains open with results highlighting a series of northwest trending anomalies within a broader north-south trend.

Recent sampling has been undertaken to infill the higher-grade areas and extend laterally.

Caprice declared its next phase of exploration is aimed at firming up targets ahead of the maiden drill program planned for this quarter.

“Exploration at Mukinbudin continues to deliver outstanding results, with the delineation of a three kilometres long REE soil anomaly at Hadrian’s and the identification of the high-grade Colosseum prospect via regional rock chip sampling,” Caprice Resources managing director Andrew Muir said in the company’s ASX announcement.

“Combined with the +1km Gadolin prospect, Mukinbudin is emerging as a very promising REE project.

“Given the success to date, we were very pleased to be able to lodge applications for two new tenements, which significantly boosts our landholding in this emerging area to almost 600 square kilometres.

“With applications well advanced for RC drilling of both Gadolin and Colosseum, we look forward to systematically testing the two most significant anomalies delineated to date in this exciting project.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Caprice Resources Generates New Mukinbudin REE Targets

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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.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Caprice Resources Identifies Mukinbudin Rare Earth Anomaly

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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