- Caprice Resources (CRS) generates three new REE targets via ongoing soil and rock chip sampling at its Mukinbudin REE project in WA
- The company continues to deliver “encouraging” results at Mukinbudin
- Previously, CRS defined a 1000-metre-long REE soil anomaly at Gadolin
- And now, CRS has generated new targets in QC3, Hadrian and the Quarry prospects, with Gadolin the likely first drill target
- CRS shares are up 2.44 per cent, trading at 4.2 cents at 11:49 am AEST
Caprice Resources (CRS) has generated multiple new rare earth element (REE) targets through ongoing soil and rock chip sampling at its Mukinbudin REE project in Western Australia.
The company reported that sampling at Mukinbudin was continuing to deliver “encouraging” results.
Previously, CRS defined a 1000-metre-long REE soil anomaly at Gadolin.
And now, the Hadrian’s prospect is believed to hold similar geological and geographical characteristics to Gadolin. Results from a single sampling traverse have yielded multiple coincident results in excess of 1000 parts per million (ppm) rare earth oxides (REO), with a peak value of 2428ppm REO.
The QC3 and the Quarry prospects are also believed to be located on key geological features and outcrops. Sampling is aimed to extend the prospects in the coming weeks.
Caprice believes Gadolin will likely be the first drill target, with maiden drilling planned for this quarter.
“We are very pleased with the work to date at Mukinbudin, each sampling program we have undertaken has enhanced the prospectivity of the project, with four targets now delineated,” CRS Managing Director Andrew Muir said.
“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.”
CRS shares were up 2.44 per cent, trading at 4.2 cents at 11:49 am AEST.