Caprice Resources Ltd. provided an update on the recently acquired Mukinbudin Rare Earth Element Project ("Mukinbudin", "the Project"), located 25km northwest of Mukinbudin and 250km northeast of Perth in Western Australia. The Mukinbudin Project covers 380km2 and contains multiple pegmatites considered prospective for REEs. An initial reconnaissance program and high level first-pass mapping was completed in late in 2022, which covered only 20% of the tenement. This confirmed the historical mapping of 5 pegmatites and located 3 additional bodies, supporting the potential for further `blind' pegmatites across the tenement.
During the reconnaissance program, 37 grab samples were taken from available exposures across the 8 pegmatites. Whilst the assay results from the samples did not return material grades of rare earths, the results are suggestive of possible pegmatite fractionation with significant variable K/Rb ratios highlighting the potential for REE enrichment. Whilst positive, with key anomalous pathfinders (Rb, Cs and Nb) across the eight bodies, significant mapping and sampling is required to confirm the type of scale of the pegmatite bodies. Details of the grab samples are provided in. A follow up fieldwork program has commenced. The primary aim of this program is to undertake detailed mapping and sampling, with a view to understanding the mineralogy and compositional changes within the different zones of the pegmatites. This will give key insights as to the prospectivity of the pegmatites and their potential to host REEs. In addition to reviewing the known pegmatites, reconnaissance work will focus on identifying additional unmapped pegmatites.