Caprice (ASX:CRS) caps big Bantam acquisition across West Aruntan frontier

Caprice (ASX:CRS) caps big Bantam acquisition across West Aruntan frontier

July 2, 2024 Off By Jack Baker

Caprice Resources has acquired 90 per cent of the Bantam project and now stands as the fourth largest ASX-listed landholder across Western Australia’s West Arunta exploration frontier.

A thorough desktop review has indicated Bantam has the same iron-oxide-copper-gold prospectivity that first led WA1 Resources (ASX:WA1) to the remote region and multiple targets for the mineralised carbonatites which turned it into a billion-dollar company.

Bantam consists of four connected tenements covering over 1470 square kilometres, next to and sharing a 30km border with WA1 land and a Luni carbonatite now validated as the biggest niobium discovery in over 70 years.

Caprice Resources Chairman Glenn Whiddon said with comprehensive due diligence and formal completion of Bantam, the company was now ready to begin exploring the West Arunta district.

“The acquisition secures Caprice a commanding land position, the fourth largest ASX-listed exposure, in this highly fertile and chronically underexplored region which is being proven to host world-class discoveries,” he said.

“Geophysical works will commence this month and we look forward to building our relationship with the local Kiwirrkurra community as we work through the appropriate heritage approvals process.”

Geophysical surveys are now set to begin later this month across the granted tenement package with high-resolution imagery set to further inform targets for the drill.

WA1 first came to the region and the Australian Securities Exchange with West Arunta in the portfolio as an IOCG discovery target as geophysics across the region were showing potential to define deposit-scale anomalies unseen in regional datasets.

Both WA1 and Encounter Resources‘ (ASX:ENR) recent drilling success have further put the spotlight on prospectivity for niobium and rare earths and shown a new geological model for targeting critically endowed carbonatite.

But the West Arunta remains fresh, and while niobium is an obvious quarry given Caprice’s neighbouring success, there remains a fun level of mystery as to what other discoveries might be made.

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.