📢 CAPRICE RESOURCES (ASX: CRS) SECURES $1M DRILL-FOR-EQUITY AGREEMENT – FAST-TRACKS GOLD DISCOVERY AT MURCHISON
Caprice Resources Ltd (ASX: CRS) has signed a $1 million drill-for-equity agreement with Topdrill Pty Ltd, strengthening its ability to execute a 30,000m+ drill campaign targeting high-grade gold at the Island and Cuddingwarra Gold Projects in WA’s prolific Murchison Goldfields.
The agreement highlights: ✅ $1M value in drilling services convertible to CRS shares
✅ Up to 40% of drilling costs payable in equity at nil premium to 15-day VWAP ✅ Shares subject to 3-month escrow, agreement valid until 31 March 2026 ✅ No obligation to issue equity—Caprice retains payment flexibility
🗣️ CEO Luke Cox commented:
“We are pleased to enter into this drill-for-equity agreement which highlights the mutual recognition of the superior drilling services which Topdrill provide and the potential Caprice Resources equity appreciation that could occur with ongoing successful exploration. This agreement offers a capital-effective method to increase our drilling programmes across Caprice’s exciting gold projects in the Murchison Goldfield."
🚀 Strategic Path Forward – Island Gold Project (IGP):
📌 Phase 3 – 5,000m RC drilling starts April 2025 targeting Vadrians extensions and 30+ new structural targets 📌 POWs lodged, all approvals in place 📌 Tenement applications to double project footprint over highly prospective greenstones and BIFs
⚒️ Cuddingwarra Exploration (Q2 2025):
Geochemical sampling in April to refine gold targets
2,500m aircore drilling to test visible gold in quartz veins & northeast structural corridor near Westgold’s open pit
🏅 Project Highlights:
Thick, stacked high-grade lodes intersected in Phase 1 & 2 drilling
Lodes remain open in multiple directions
Strong potential for multiple near-surface and depth extensions
📈 Investor’s Outlook:
With strong funding, a flexible drilling agreement, and over 7,000m of drilling planned across two gold projects, Caprice is well positioned to deliver high-impact exploration results in 2025.
ASX: CRS last traded at A$0.052.
🔗 Read the full announcement - https://colitco.com/caprice-resources-signs-1-million-drill-for-equity-agreement-with-topdrill/
⚠️ This is not investment advice. Please conduct your own research before making any investment decisions.