Caprice Resources (ASX:CRS) reported a maiden mineral resource estimate (MRE) of 6.16 million tonnes at 2.6 grams per tonne grade of gold for 522,000 ounces of contained gold at its Island project in Western Australia, according to a Wednesday filing with the Australian bourse.
Roughly 95% of contained gold is hosted mainly at the Vadrians deposit within the Central Island area, along with contributions from New Orient and other areas, with 52% of contained gold classified as indicated mineral resource, the filing said.
Shares rose 17% on market close.
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