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| Caprock Mining |
Growing Potential and Expansion Plans
Caprock Mining Corp. [CSE: CAPR] has announced a substantial open pit-constrained Mineral Resource Estimate (MRE) for its newly optioned Destiny gold property, located near Val D’Or, Quebec. The updated estimate confirms the project’s strong potential with significant indicated and inferred resources.
Key Resource Estimate and Geological Insights
- Indicated Resources: 6,752,000 tonnes at 0.91 g/t gold, totaling 196,549 ounces at a 0.30 g/t gold cut-off.
- Inferred Resources: 28,560,000 tonnes at 0.87 g/t gold, totaling 794,886 ounces at a 0.30 g/t gold cut-off.
- Mineral resources are constrained within pit shells (OP) based on a long-term gold price of US$2,100/oz.
- Metallurgical recoveries are projected at 94% based on test recoveries.
- Total ore-based costs are CAD$22.50/t, with processing costs of CAD$18.00/t and G&A costs of CAD$4.50/t.
Prepared by Todd McCracken, P.Geo, of BBA E&C Inc., the MRE complies with NI 43-101 standards. Caprock Mining President & CEO, Vishal Gupta, emphasized the significance of the MRE, stating: “Today’s substantial, high-quality MRE establishes Destiny as one of the best developing gold projects in Quebec during a period of unprecedented high gold prices. This is the first step in Caprock’s quest to unlock Destiny’s vast mineral potential.”
The MRE currently covers only 2 km of the 6 km strike length of the Despinassy shear zone at Destiny. Additional exploratory drilling has revealed high-grade mineralization at depths beyond 500 meters, highlighting the potential for future underground mining. To build upon these findings, Caprock is planning a targeted drilling program to expand the resource inventory both along strike and at depth.
The updated MRE is based on data from 57,465 meters of drilling across 179 drill holes, outlining 13 distinct mineralized domains. A three-dimensional geological model was used to define gold distribution, with an average specific gravity of 2.82 for mineralized material. Gold grades were interpolated using ordinary kriging, a standard geostatistical method.
The majority of the MRE is centered on the DAC deposit, which has seen the highest drilling resolution. Adjacent zones, such as the Gap and Darla zones, have received less extensive drilling, presenting further opportunities for resource expansion. Following the completion of this MRE, Caprock’s next step involves executing a resource definition drilling program to enhance the deposit’s understanding and identify additional high-grade zones.
Strategic Location and Future Prospects
Destiny comprises 127 mineral claims spanning 5,013 hectares and is located less than two hours from Val D’Or, Quebec. The project lies along a major deformation corridor in the Abitibi greenstone belt, which hosts multiple world-class gold deposits, including those within the Cadillac-Larder Lake, Destor-Porcupine, and Casa Berardi fault zones. The property overlies a 6 km segment of the Despinassy shear zone, a key regional structure with significant gold-bearing potential.
Caprock Mining holds an option to earn a 100% interest in Destiny, positioning itself to fully capitalize on the property’s mineral wealth. With additional exploration and development, Destiny could become a premier gold asset in Quebec’s prolific gold belt.
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