SYDNEY: Caprice Resources Limited has appointed drilling contractor to conduct the Company’s maiden drilling campaign across the Cook Prospect on the Company’s Wild Horse Hill Project in the Northern Territory.

This initial drilling program will test the Cook Prospect with 10 RC drill holes, each drilled to a maximum depth of 150m, with scope for further drilling subject to exploration success. The Cook Prospect is approximately 400m east of the Shoobridge Fault, a major north-south trending structure. A series of parallel to sub-parallel quartz veins, varying from 30cm to 4m in width, outcrops discontinuously over a strike length of some 600m in a 200m wide zone.

Phyllitic siltstones/shales and medium grained quartzo-feldspathic wackes form the country rock within the prospect area. At the southern end of the Cook Prospect scattered gold occurrences continue trending south.

Historical soil and rock sampling (69 samples) completed by Western Mining Corporation (WMC) over 1,100m on lines of 300m spacing with samples 100m apart revealed a long narrow anomaly of approximately 850m and 20-30m wide, with the highest value of 570 ppb Au and a broad anomaly over 400m x 160m at its widest point with values of 20 – 860 ppb Au.

The Company believes that the situation at the Cook Prospect could potentially resemble the model for Kanowna Belle where the high-grade quartz lode, the Troy Shoot, intersects the regional Fitzroy Fault with gold focused at the plunge intersection of the two structures. In this case, a deflection in the Mt Shoobridge fault intersecting quartz lodes in the anticlinal hinge could have a similar effect. Caprice will update the market with the results of this drilling program as they become available.