Murchison Projects

Strategic and Prospective

+150km2

Granted Mining Leases

Historical High Grade Gold

Distinct Project Areas

The Island Gold Project

The Island Project covers 21km² of highly prospective tenure in the richly endowed Cue gold field. The Project 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).

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.

Cuddingwarra

The Cuddingwarra project is located 540km north-east of Perth and 10km west of the town of Cue in Western Australia. The project resides in the Murchison Greenstone Domain, within the Youanmi Terrane of the Archaean Yilgarn Craton. The project is highly prospective for Archaean orogenic gold mineralisation.

The project includes two separate tenement packages that straddle the north south striking Cuddingwarra Shear Zone (CSZ). The CSZ hosts the historic Cuddingwarra open pit mining centre currently held by West Gold Resources; these historic deposits are directly adjacent to the Caprice Resources Cuddingwarra tenements.

The project was acquired as part of a Joint Venture completed in July 2021 with Golden State Mining where Caprice gained an 80% share in the tenure (see ASX announcement dated 27th of July 2021).

The geology is dominated by a north-south striking sequence of basalt, high-Mg basalt, andesite and ultramafic units. The sequence is variable intruded by felsic to mafic dykes and sills and is folded to the south-west with a large-scale south-east plunging anticline. Second order shears from the CSZ and smaller scale linking structures have disrupted and deformed the greenstone sequence and are broadly associated with gold mineralisation. Stratigraphy in the south-west partly obscured by transported sediments. The Cuddingwarra West tenements a bordered by large granitic intrusions.

Previous exploration is dominated by mapping and soil / auger sampling with a small number of historic AC drilling adjacent to the historic Cuddingwarra open pit mining centre.

Big Bell South

The Big Bell South project is located 520km north-north-east of Perth and 35km west of the town of Cue in Western Australia. The project resides in the Murchison Greenstone Domain, within the Youanmi Terrane of the Archaean Yilgarn Craton. The project is highly prospective for Archaean orogenic gold mineralisation.

The project includes a single exploration license E 21/193 over what is interpreted to be the southern extension of the Big Bell stratigraphy and fault. The tenement is located approximately 20km south of West Gold Beg Bell gold deposit.

The project was acquired as part of a Joint Venture completed in July 2021 with Golden State Mining where Caprice gained an 80% share in the tenure (see ASX announcement dated 27th of July 2021).

While the geology of the Big Bell deposit and stratigraphy is well studied and documented, the southern extension of the amphibolite facies greenstone sequence is poorly exposed with shallow alluvial cover over much of the tenement. Airborne magnetics suggests the southern extension of the Big Bell stratigraphy that runs through E 21/193 is 0.5km to 1.0km wide.

Previous exploration is limited a small number of RAB lines in the north-west corner of the E 21/193.

Murchison Projects

Strategic and Prospective

The Island Gold Project

Cuddingwarra

Big Bell South

Caprice Resources

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