Caprice Resources Hits Bonanza Gold at Island Gold Project

6 May 2026 | Western Australia - Caprice Resources Limited (ASX: CRS) has reported an exceptional high-grade gold intercept from its Island Gold Project in Western Australia’s Murchison region, with new drilling defining a potential parallel lode west of the main Vadrians deposit.

The standout result came from reverse circulation hole 26IGRC010, which intersected 22m at 66.2 g/t gold, including 8m at 181 g/t gold from just 42m downhole.

Caprice said the result is the highest-grade intercept returned to date at the Island Gold Project and was intersected approximately 120m west of Vadrians, in a parallel hanging-wall position.

The company said the mineralisation occurs beneath a near-surface weathered depletion zone and may represent a different style of mineralisation to the main BIF-hosted Vadrians lode.

Other significant results from the latest drilling included:

• 9m at 2.8 g/t gold, including 5m at 4.5 g/t gold from 186m in 26IGRC010
• 5m at 3.4 g/t gold, including 3m at 5.2 g/t gold from 147m in 26IGRC009
• 7m at 2.3 g/t gold, including 5m at 3.1 g/t gold from 261m in 26IGRC016

Caprice Managing Director Luke Cox said the result was exceptional, particularly due to the grade, thickness, shallow depth and proximity to Vadrians.

He said the new discovery reinforced the company’s view that Island is developing into a multi-lode system with significant scale potential.

Caprice is currently undertaking a 50,000m air core, RC and diamond drilling program across the Island Gold Project, Comet and Cuddingwarra projects. The program is aimed at expanding known mineralisation, testing new targets and supporting the delivery of a maiden Mineral Resource Estimate.

Immediate follow-up drilling of the high-grade zone is being planned, with drilling expected to recommence in the area next week. Assays are also pending from deeper diamond holes testing the southern high-grade zone at Vadrians.

Why it matters: The result is significant because it suggests high-grade gold mineralisation at Island may not be limited to the main Vadrians lode. A shallow, high-grade intercept in a parallel structure could increase the scale potential of the project and strengthen Caprice’s pathway toward a maiden resource.

The Island Gold Project remains a key focus for Caprice’s Murchison gold strategy, with ongoing drilling expected to further test strike, depth and parallel-lode potential across the broader Island corridor.

Source: Caprice Resources ASX announcement, 6 May 2026; SmallCaps coverage