• Air core drilling defines multiple early-stage gold targets south of Vadrians
• Four priority southern targets delineated, including the new First Light target
• Significant AC gold intersections suggest potential for higher grade mineralisation in fresh rock beneath

Caprice Resources Ltd (ASX: CRS) is pleased to report initial results from air core (AC) drilling completed at the Island Gold Project (IGP). A total of 161 AC holes systematically tested the easterly banded iron formation (BIF) corridor north and south of the Vadrians deposit. Results from the first 71 AC holes drilled on the southern half of the project have confirmed anomalous gold across four significant target areas south of Vadrians. These new targets include First Light, Evening Star, Chicago, and Eureka, with strike extents ranging from 200 to 300 metres. Given the semi-depleted nature of gold in the weathered profile near surface observed at Vadrians, the broad scale low amplitude AC gold anomalism is suggestive of the potential for higher grade mineralisation in the fresh rock beneath. These encouraging new targets will be followed up with deeper reverse circulation (RC) drilling which is currently being planned. Phase 4 drilling is complete, with assays pending for 5 diamond holes and the remaining 90 AC holes. Follow-up RC drilling is also underway, targeting northern strike extensions and depth continuity at Vadrians.

Further air core drilling is currently being planned to test additional high-priority targets identified through gravity and magnetics across the Island Gold Project.