- Caprice Resources (CRS) extends its Gadolin soil anomaly to more than one kilometre in strike at its Mukinbudin rare earth element project in WA
- The one-kilometre anomaly remains open in multiple directions with up to 2045 parts per million rare earth oxides (REO) and 21 per cent heavy REOs
- Caprice interprets the sample to be part of a continuous pegmatite cluster that coincides with highly fractionated oxidised felsic porphyritic granite, heading southeast
- Caprice’s next phase of exploration will aim to firm up the identified targets ahead of its maiden drill program planned for the third quarter of 2023
- CRS shares traded at 4 cents at 10:20 am AEST
Caprice Resources (CRS) has extended its Gadolin soil anomaly through follow-up, extensional and infill sampling at its Mukinbudin rare earth element (REE) project in Western Australia.
The extensional sampling program tested 200 soil samples across Gadolin, extending the anomaly between northern and southern pegmatite outcrops from 300 metres to over one kilometre in strike.
The anomaly remains open in multiple directions with up to 2045 parts per million (ppm) rare earth oxides (REO) and 21 per cent heavy REOs.
Results remain pending in the southeast corner, and an additional 320 metres in samples heading south.
Caprice interpreted the samples from its one-kilometre anomaly to be part of a continuous pegmatite cluster, with soil confirming there is potential for blind pegmatite REE mineralisation that does not outcrop.
“These latest results from Gadolin highlight the REE potential of the Mukinbudin project,” CRS Managing Director Andrew Muir said.
“Whilst Gadolin is the largest and most advanced, we are optimistic that our sampling has already identified additional quality prospects.
“Once all samples have been received, we will look to undertake drilling to test the primary targets in the next quarter.”
Furthermore, Caprice mentioned the one-kilometre extension coincides with highly fractionated oxidised felsic porphyritic granite to the southeast, which has been selectively sampled with assays pending.
Given the success of the company soil program to date, CRS plans to undertake a more systematic sampling program, pending the company’s fieldwork results.
Caprice’s next phase of exploration will aim to firm up targets ahead of its maiden drill program, planned for the third quarter of 2023.
CRS shares were trading at 4 cents at 10:20 am AEST.