The Island Gold Story - Caprice Resources Limited (ASX:CRS)
Coffee with Samso Episode 65 with Scott Patrizi, Executive Director of Caprice Resources Limited (ASX: CRS)
Caprice Resources Limited (ASX: CRS) has landed itself a potential high-grade gold project in the Murchison Goldfields.
The Island Gold project is one of the projects that has had a long and hard life to get to this stage. For Caprice Resources, this is a good thing. Scott shares with us the story about how this project landed in the company and why there is so much potential that has not been revealed.
In late 2020, when I came across this company and the project, I made contact with Adam Miethke, who is a non-executive director of Caprice Resources. Adam is also the Managing Director of Discovery Capital Partners. I wanted to learn more about the project and when the company agreed to come onto Coffee with Samso, I was thrilled as I felt that the Island Gold project is unique.
With the current buoyant nature of the market, these hidden projects are finally able to surface and many people are going to be surprised by their potential.
In this episode of Coffee with Samso, Scot has shared with us the potential of the Island project and also their Northampton project. The Northampton project is a base metal play but like many projects, it has some issues. Nonetheless, the geology is fantastic.
Time will tell how everything pans out but if the company has enough faith to pursue its mandate, i.e. to drill and find a deposit, shareholders can be assured that this is a decent project with some real numbers.
About Scott Patrizi
Caprice Resources Limited
Mr Patrizi is a corporate director with strong equity capital markets and project acquisition experience. Mr Patrizi holds a Bachelor of Commerce from the University of Western Australia. Mr Patrizi was formerly the Executive Director at Matador Mining Limited (ASX: MZZ) and a Non-Executive Director of Rarex Limited (ASX: REE) and Elixir Petroleum (ASX: EXR). Mr Patrizi worked across a wide range of industries including mining, oil and gas, healthcare, and education providing merger and acquisition, valuation and due diligence services.
Mr Patrizi previous employment history includes working for Argonaut Limited, a full service advisory, stockbroking and research and investment house focused on clients in the natural resources sector as well as for Big Four accounting firm Deloitte.
About Caprice Resources Limited
Caprice Resources Limited (ASX:CRS) is focused on the exploration of mineral assets in Australia.
We are a gold and base metals focused exploration company, with our Island Gold Project in the Cue Goldfield, the Northampton Project and the Wild Horse Hill Project. Caprice was attracted to these projects due to their prospective geological setting within proven mineralised belts.
The Island Gold Project
The Island Project covers 21km2 of highly prospective tenure in the richly endowed Cue Goldfield and contains many of the historic gold mines of the Lake Austin gold mining centre and comprises two granted mining leases and one exploration license (M21/66, M21/140 and E21/186) covering the New Orient, The Island and North Island properties.
The Project lies adjacent to the Great Northern Highway and is located 630km north of Perth, 60km north of Mt Magnet and 20km south of Cue.
The Island is an Archaean basement high within Lake Austin. It is dominated by intercalated mafics and multiple BIF structures striking roughly north-northeast. There is an extensive metagabbro intrusive in the central part of the project area directly north of the Baxter’s / Golconda area. This intrusive appears irregular and is strongly weathered and possibly altered. Quartz veining is present associated with supergene mineralisation and as quartz reefs.
There are several shear zones present with a dominant north-easterly trend. These shears show variable displacement and deform the BIF with tight drag folding common in the shear zones. These shear zones and associated folding appear to be an important control on mineralisation and the folding of the BIF is often associated with higher grade mineralisation. There are extensive workings present throughout the Project area with the strongest concentration on the Golconda-Vadrian Hill trend. The alignment of these workings forms a strong north-easterly trend that is interpreted to be a major influence on the distribution of gold mineralisation in the area. The trend is thought to represent a strong structural corridor that has deformed the BIF and allowed strong fluid flow during periods of mineralisation. This trend is repeated throughout the project area aligning various workings and anomalous gold result.
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