Caprice Resources Says Drilling at Western Australia Gold Project Encounters Shallow Mineralization; Shares Jump 47%

MT Newswires Live12:01

Caprice Resources (ASX:CRS) says drilling encountered shallow gold mineralization from ongoing drilling and defined a new high-grade zone located around 120 meters parallel to the primary Vadrians lode at the Island gold project in Western Australia, according to a Wednesday Australian bourse filing.

This included the highest grade intercept at the project to-date of 22 meters at 66.2 grams per tonne (g/t) grade of gold, including 8 meters at 181 g/t grade of gold from just 42 meters downhole, per the filing. Immediate follow-up of this intercept is being planned, with drilling expected to restart next week.

The company's shares jumped 47% in recent trading on Wednesday.

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