aprice Resources Ltd (ASX: CRS) (“Caprice” or “the Company”) is thrilled to announce continued exploration success at the Mukinbudin Rare Earth Element Project (“Mukinbudin”, “the Project”), situated 25km northwest of Mukinbudin and 250km northeast of Perth.
New Prospect Discovery: Rock chip sampling has unveiled a new prospect named Colosseum. This prospect spans at least 500m and encompasses a coarse granite outcrop. Out of the 20 rock chip samples taken from Colosseum, 13 have returned values exceeding 1,000ppm TREO. The peak value recorded was an impressive 5,038ppm REO (0.5% REO). Given these consistent findings, Colosseum is now flagged as a primary target for the upcoming drill program.
Extended Anomalism at Hadrian’s: Follow-up soil sampling at Hadrian’s has confirmed REO anomalism, which has now been extended to over 3km and remains open. This anomalism showcases a series of northwest trending anomalies within a broader north-south trend. Recent sampling aims to fill in the higher-grade areas and extend laterally.
QC3 Prospect: Further soil sampling at QC3 has confirmed a +1km REO anomaly with peak values of 2,001ppm TREO (18.7% HREO).
Expansion of Mukinbudin Foothold: The Company has increased its foothold in Mukinbudin by 52%, now covering 582km2, thanks to two tenement applications.
Upcoming Maiden Drilling: The approval process for the maiden drilling of Gadolin and Colosseum is in progress, with drilling scheduled for this quarter.
Managing Director, Andrew Muir, expressed his enthusiasm:
“Exploration at Mukinbudin continues to deliver outstanding results, with the delineation of a 3km long REE soil anomaly at Hadrian’s and the identification of the high-grade Colosseum prospect via regional rock chip sampling. Combined with the +1km Gadolin prospect, Mukinbudin is emerging as a very promising REE project. Given the success to date, we were very pleased to be able to lodge applications for two new tenements, which significantly boosts our landholding in this emerging area to almost 600km2. With applications well advanced for RC drilling of both Gadolin and Colosseum, we look forward to systematically testing the two most significant anomalies delineated to date in this exciting Project.”
Caprice Resources Limited (ASX: CRS) holds a 100% interest in the Mukinbudin REE project, located in the wheatbelt of WA acquired in December 2022.