Caprice Resources Ltd (ASX: CRS) Commences Cuddingwarra Exploration
Exploration Commences with Visible Gold Discovery
Caprice Resources Ltd (ASX: CRS) has commenced exploration at its Cuddingwarra Gold Project in Western Australia. The company identified visible gold in outcropping quartz reefs above a high-priority gold target known as CUD-GPX01. This confirms the potential of the project, situated within the highly regarded Murchison Gold Fields.
Ground Truthing and Geological Mapping Success
The exploration involves ongoing ground truthing focused on ten high-priority structurally controlled gold targets. These targets were highlighted through aeromagnetic surveys, leading to immediate success at CUD-GPX01. The structural setting of this target mirrors those of existing high-grade gold deposits nearby, indicating strong potential for rich mineralisation.
Drilling & Future Development Plans
Demirs approval for drilling has been granted, with the company planning to commence drilling following a rock chip sampling and mapping program. The Cuddingwarra project features over 10km of prospective strike with a historical association to high-grade gold deposits. Caprice Resources is implementing a three-pillar development strategy, focusing on exploration, resource definition, and feasibility studies.
CEO’s Comments on Project Potential
CEO Luke Cox expressed optimism regarding the project: “Our Cuddingwarra Gold Project is remarkably underexplored. Initial findings of visible gold exceed our expectations, highlighting its potential for significant gold discoveries.” He also emphasised the project’s adjacency to established gold mines and processing facilities in the region.
Future Exploration Activities
Continued exploration will follow the mapping and surface sampling exercise, with further details on drilling programs to be disclosed as finalised. The company is actively evaluating opportunities for inorganic growth within the Murchison region to enhance its resource base.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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