# CRS: Annual Report to shareholders Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03146518 Publisher: asx Original announcement: 2026-09-30T07:09:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-30T08:34:49.005Z Atlas analysis updated: 2026-09-30T08:34:49.005Z - Company: Caprice Resources Ltd - Ticker: CRS - Exchange: ASX - Region: Western Australia - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Drill results, Metallurgy, Capital raise - Extracted: 2026-09-30 08:34:49 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Caprice Resources' FY2026 annual report highlights successful exploration at its Island Gold Project in Western Australia, with high-grade gold intercepts extending mineralization at Vadrians. Initial metallurgical testwork yielded encouraging gold recoveries of up to 94% using conventional processing. The company also completed a A$12.8 million equity placement and strategically acquired the Comet Gold Project while divesting a portion of its West Arunta asset, consolidating its focus on the Murchison gold portfolio. Reasoning: The annual report details significant high-grade gold drill results, positive initial metallurgical testwork, and a substantial capital raise, all contributing to a strong outlook for the company's Murchison gold portfolio. Strategic divestment and acquisition further focus the company's efforts. - Positive factor: High-grade gold intercepts at Vadrians, extending mineralization at depth and along strike - Positive factor: Encouraging initial metallurgical testwork with high gold recoveries from conventional processing - Positive factor: Successful equity placement strengthening financial position for accelerated exploration - Positive factor: Strategic portfolio adjustments to focus on Murchison gold assets - Negative factor: Some drill results are near-surface anomalies, not standalone mineralization - Negative factor: Metallurgical testwork is early-stage and on a single composite, not representative of all mineralization Facts used in scoring: 36 ## Classification and evidence **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: The intercept of 19m at 124.74 g/t Au is exceptionally high-grade, well above the deposit-type norm for gold. Evidence · text > one-metre original split sampling refined the result to 19m at 124.74 g/t Au from 42m **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: The overall gold recovery of 94% from a conventional gravity and CIL processing route is at or above the exceptional band for gold processing. Evidence · text > The master composite returned overall gold recovery of 94% at P80 75 microns **Pilot Scale Complete** Polarity: positive Definition: Pilot or demonstration plant testing completed under continuous operation. Why it applies: The metallurgical testwork included a bulk gravity stage and leaching, indicating a scale beyond simple bench tests, though the document refers to it as 'initial assessment of a single composite'. Evidence · text > The programme evaluated head-grade characteristics, gravity recovery, grind sensitivity, cyanide-leach performance, leach kinetics, reagent consumption, mineralogy and acid mine drainage characteristics. Testing included a bulk gravity stage and leaching of gravity tails across a range of grind sizes. **Free Milling** Polarity: positive Definition: Simple, clean ore amenable to standard processing without oxidation. Why it applies: The testwork observed no preg-robbing or preg-borrowing behaviour and no asbestiform mineral fibres, indicating simple ore amenability. Evidence · text > no preg-robbing or preg-borrowing behaviour was observed and no asbestiform mineral fibres were detected. **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: Drilling confirmed extensions of the Vadrians mineralized system to at least 400 metres vertical depth and over approximately 1,000 metres of strike. Evidence · text > Results from the programme confirmed extensions of the Vadrians mineralised system to at least 400 metres vertical depth and over approximately 1,000 metres of strike **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: The Competent Person’s Statement confirms that information is extracted from ASX market announcements and reported in accordance with Listing Rule 5.7, and that the company is not aware of new information or data materially affecting the original market announcement. Evidence · text > The information in this Annual Report that relates to Exploration Results is extracted from the ASX market announcements referenced throughout and were reported in accordance with Listing Rule 5.7. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement. The Company further confirms that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: The drilling campaign combined resource-definition drilling with step-out and discovery exploration, indicating a component of infill drilling. Evidence · text > combining resource-definition drilling with step-out and discovery exploration. **Heap Leach Route** Polarity: neutral Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. Why it applies: The metallurgical testwork included a bulk gravity stage and leaching, which is a component of heap leach processing. Evidence · text > Testing included a bulk gravity stage and leaching of gravity tails across a range of grind sizes. **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: The metallurgical testwork confirmed amenability to a conventional carbon-in-leach \(CIL\) processing route, which is a mill-based process. Evidence · text > The results confirmed that the tested high-grade composite was amenable to a conventional gravity and carbon-in-leach processing route. **Single Domain Only** Polarity: negative Definition: Testing limited to one composite or domain — representativeness not established. Why it applies: The metallurgical testwork was an initial assessment of a single composite and does not establish gold recovery assumptions for all Island mineralization. Evidence · text > The programme represents an initial assessment of a single composite and does not establish gold recovery assumptions for all Island mineralisation. **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: the document describes a gravity route \("gravity"\) ## Extracted facts Stored fact records: 36. Some facts used in scoring do not have a stored record. ## Drill Results (33) ### 25IGRC046 [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-0) Island · gold #### Identity - Hole ID: 25IGRC046 - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 17.3 - Grade Unit: g/t - Intercept: 11 m - From: 170 m - To: 181 m - Intercept Depth: 170 m #### Classification - Program: mixed - Sample Type: drill - Group ID: 25IGRC046:170-181 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This intercept from the Phase 3 program at Vadrians shows very high-grade gold over a substantial width, including a bonanza sub-interval, indicating strong mineralization. - Positive factor: High-grade gold intercept \(17.3 g/t Au\) indicates significant mineralization - Positive factor: Good intercept length \(11m\) for the reported grade - Positive factor: Includes a bonanza sub-interval \(9m at 21.0 g/t Au\) Evidence · text > 11m at 17.3 g/t Au from 170m in 25IGRC046, including 9m at 21.0 g/t Au from 170m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### 25IGRC046 [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-1) Island · gold #### Identity - Hole ID: 25IGRC046 - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 21 - Grade Unit: g/t - Intercept: 9 m - From: 170 m - To: 179 m - Intercept Depth: 170 m #### Classification - Program: mixed - Sample Type: drill - Group ID: 25IGRC046:170-179 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This bonanza-grade sub-interval within 25IGRC046 is an exceptional result, reinforcing the high-grade nature of the Vadrians discovery. - Positive factor: Exceptional bonanza-grade gold intercept \(21.0 g/t Au\) - Positive factor: Good intercept length \(9m\) for such high grade - Positive factor: Confirms high-grade character of Vadrians Evidence · text > including 9m at 21.0 g/t Au from 170m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### 25IGRC042 [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-2) Island · gold #### Identity - Hole ID: 25IGRC042 - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 11.7 - Grade Unit: g/t - Intercept: 10 m - From: 175 m - To: 185 m - Intercept Depth: 175 m #### Classification - Program: mixed - Sample Type: drill - Group ID: 25IGRC042:175-185 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This intercept from the Phase 3 program at Vadrians shows high-grade gold over a significant width, contributing to the understanding of the deposit's potential. - Positive factor: High-grade gold intercept \(11.7 g/t Au\) over a significant width \(10m\) - Positive factor: Includes a bonanza sub-interval \(8m at 14.4 g/t Au\) Evidence · text > 10m at 11.7 g/t Au from 175m in 25IGRC042, including 8m at 14.4 g/t Au from 176m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### 25IGRC042 [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-3) Island · gold #### Identity - Hole ID: 25IGRC042 - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 14.4 - Grade Unit: g/t - Intercept: 8 m - From: 176 m - To: 184 m - Intercept Depth: 176 m #### Classification - Program: mixed - Sample Type: drill - Group ID: 25IGRC042:176-184 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This bonanza-grade sub-interval within 25IGRC042 further highlights the high-grade nature of the Vadrians mineralization. - Positive factor: Exceptional bonanza-grade gold intercept \(14.4 g/t Au\) - Positive factor: Good intercept length \(8m\) for such high grade - Positive factor: Confirms high-grade character of Vadrians Evidence · text > including 8m at 14.4 g/t Au from 176m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### 25IGRC051 [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-4) Island · gold #### Identity - Hole ID: 25IGRC051 - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 10.9 - Grade Unit: g/t - Intercept: 10 m - From: 123 m - To: 133 m - Intercept Depth: 123 m #### Classification - Program: mixed - Sample Type: drill - Group ID: 25IGRC051:123-133 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This intercept from the Phase 3 program at Vadrians shows high-grade gold, including a very high-grade sub-interval, indicating strong mineralization. - Positive factor: High-grade gold intercept \(10.9 g/t Au\) over a significant width \(10m\) - Positive factor: Includes an exceptionally high-grade sub-interval \(1m at 63.9 g/t Au\) Evidence · text > 10m at 10.9 g/t Au from 123m in 25IGRC051, including 1m at 63.9 g/t Au from 126m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### 25IGRC051 [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-5) Island · gold #### Identity - Hole ID: 25IGRC051 - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 63.9 - Grade Unit: g/t - Intercept: 1 m - From: 126 m - To: 127 m - Intercept Depth: 126 m #### Classification - Program: mixed - Sample Type: drill - Group ID: 25IGRC051:126-127 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This bonanza-grade sub-interval within 25IGRC051 is an exceptional result, indicating the presence of very high-grade gold mineralization. - Positive factor: Exceptional bonanza-grade gold intercept \(63.9 g/t Au\) - Positive factor: Confirms presence of very high-grade zones within Vadrians Evidence · text > including 1m at 63.9 g/t Au from 126m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### 25IGRC054 [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-6) Island · gold #### Identity - Hole ID: 25IGRC054 - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 14.8 - Grade Unit: g/t - Intercept: 9 m - From: 154 m - To: 163 m - Intercept Depth: 154 m #### Classification - Program: mixed - Sample Type: drill - Group ID: 25IGRC054:154-163 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This intercept from the Phase 3 program at Vadrians shows high-grade gold, including a bonanza sub-interval, indicating strong mineralization. - Positive factor: High-grade gold intercept \(14.8 g/t Au\) over a significant width \(9m\) - Positive factor: Includes a bonanza sub-interval \(1m at 33.1 g/t Au\) Evidence · text > 9m at 14.8 g/t Au from 154m in 25IGRC054, including 1m at 33.1 g/t Au from 159m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### 25IGRC054 [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-7) Island · gold #### Identity - Hole ID: 25IGRC054 - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 33.1 - Grade Unit: g/t - Intercept: 1 m - From: 159 m - To: 160 m - Intercept Depth: 159 m #### Classification - Program: mixed - Sample Type: drill - Group ID: 25IGRC054:159-160 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This bonanza-grade sub-interval within 25IGRC054 further highlights the high-grade nature of the Vadrians mineralization. - Positive factor: Exceptional bonanza-grade gold intercept \(33.1 g/t Au\) - Positive factor: Confirms presence of very high-grade zones within Vadrians Evidence · text > including 1m at 33.1 g/t Au from 159m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### 25IGRC049 [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-8) Island · gold #### Identity - Hole ID: 25IGRC049 - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 18.3 - Grade Unit: g/t - Intercept: 5 m - From: 180 m - To: 185 m - Intercept Depth: 180 m #### Classification - Program: mixed - Sample Type: drill - Group ID: 25IGRC049:180-185 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This intercept from the Phase 3 program at Vadrians shows high-grade gold, including a very high-grade sub-interval, indicating strong mineralization. - Positive factor: High-grade gold intercept \(18.3 g/t Au\) over a good width \(5m\) - Positive factor: Includes an exceptionally high-grade sub-interval \(1m at 62.6 g/t Au\) Evidence · text > 5m at 18.3 g/t Au from 180m in 25IGRC049, including 1m at 62.6 g/t Au from 181m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### 25IGRC049 [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-9) Island · gold #### Identity - Hole ID: 25IGRC049 - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 62.6 - Grade Unit: g/t - Intercept: 1 m - From: 181 m - To: 182 m - Intercept Depth: 181 m #### Classification - Program: mixed - Sample Type: drill - Group ID: 25IGRC049:181-182 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This bonanza-grade sub-interval within 25IGRC049 further highlights the high-grade nature of the Vadrians mineralization. - Positive factor: Exceptional bonanza-grade gold intercept \(62.6 g/t Au\) - Positive factor: Confirms presence of very high-grade zones within Vadrians Evidence · text > including 1m at 62.6 g/t Au from 181m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### 25IGRC032 [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-10) Island · gold #### Identity - Hole ID: 25IGRC032 - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 1.3 - Grade Unit: g/t - Intercept: 21 m - From: 29 m - To: 50 m - Intercept Depth: 29 m #### Classification - Program: mixed - Sample Type: drill - Group ID: 25IGRC032:29-50 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This intercept near New Orient shows good gold mineralization over a significant width, indicating broader potential within the project area. - Positive factor: Significant intercept length \(21m\) at a good grade \(1.3 g/t Au\) - Positive factor: Includes a higher-grade sub-interval \(2m at 9.2 g/t Au\) - Positive factor: Broadens exploration focus beyond main Vadrians lode Evidence · text > 21m at 1.3 g/t Au from 29m in 25IGRC032, including 2m at 9.2 g/t Au from 46m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### 25IGRC032 [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-11) Island · gold #### Identity - Hole ID: 25IGRC032 - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 9.2 - Grade Unit: g/t - Intercept: 2 m - From: 46 m - To: 48 m - Intercept Depth: 46 m #### Classification - Program: mixed - Sample Type: drill - Group ID: 25IGRC032:46-48 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This high-grade sub-interval within 25IGRC032 near New Orient indicates localized high-grade mineralization, supporting broader exploration potential. - Positive factor: High-grade gold intercept \(9.2 g/t Au\) over a good width \(2m\) - Positive factor: Contributes to broadening exploration focus beyond main Vadrians lode Evidence · text > including 2m at 9.2 g/t Au from 46m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### 25IGRC078 [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-12) Island · gold #### Identity - Hole ID: 25IGRC078 - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 7.7 - Grade Unit: g/t - Intercept: 13 m - From: 242 m - To: 255 m - Intercept Depth: 242 m #### Classification - Program: mixed - Sample Type: drill - Group ID: 25IGRC078:242-255 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This intercept from the Phase 4 program at Vadrians shows high-grade gold over a significant width, confirming extensions of the mineralized system. - Positive factor: High-grade gold intercept \(7.7 g/t Au\) over a significant width \(13m\) - Positive factor: Includes a bonanza sub-interval \(7m at 13.9 g/t Au\) - Positive factor: Confirms extensions of Vadrians mineralized system Evidence · text > 13m at 7.7 g/t Au from 242m in 25IGRC078, including 7m at 13.9 g/t Au from 246m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### 25IGRC078 [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-13) Island · gold #### Identity - Hole ID: 25IGRC078 - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 13.9 - Grade Unit: g/t - Intercept: 7 m - From: 246 m - To: 253 m - Intercept Depth: 246 m #### Classification - Program: mixed - Sample Type: drill - Group ID: 25IGRC078:246-253 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This bonanza-grade sub-interval within 25IGRC078 further demonstrates strong grade continuity at depth within the Vadrians system. - Positive factor: Exceptional bonanza-grade gold intercept \(13.9 g/t Au\) - Positive factor: Good intercept length \(7m\) for such high grade - Positive factor: Demonstrates strong grade continuity at depth Evidence · text > including 7m at 13.9 g/t Au from 246m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### 25IGRC085 [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-14) Island · gold #### Identity - Hole ID: 25IGRC085 - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 12.8 - Grade Unit: g/t - Intercept: 10 m - From: 220 m - To: 230 m - Intercept Depth: 220 m #### Classification - Program: mixed - Sample Type: drill - Group ID: 25IGRC085:220-230 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This intercept from the Phase 4 program at Vadrians shows high-grade gold over a significant width, confirming extensions of the mineralized system. - Positive factor: High-grade gold intercept \(12.8 g/t Au\) over a significant width \(10m\) - Positive factor: Confirms extensions of Vadrians mineralized system Evidence · text > 10m at 12.8 g/t Au from 220m in 25IGRC085 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### 25IGRC095D [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-15) Island · gold #### Identity - Hole ID: 25IGRC095D - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 30.6 - Grade Unit: g/t - Intercept: 4 m - From: 255 m - To: 259 m - Intercept Depth: 255 m #### Classification - Program: mixed - Sample Type: drill - Group ID: 25IGRC095D:255-259 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This bonanza-grade intercept from the Phase 4 program at Vadrians demonstrates strong grade continuity at depth within the system. - Positive factor: Exceptional bonanza-grade gold intercept \(30.6 g/t Au\) - Positive factor: Good intercept length \(4m\) for such high grade - Positive factor: Demonstrates strong grade continuity at depth Evidence · text > 4m at 30.6 g/t Au from 255m in 25IGRC095D #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### 25IGRC098D [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-16) Island · gold #### Identity - Hole ID: 25IGRC098D - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 7.1 - Grade Unit: g/t - Intercept: 11 m - From: 353 m - To: 364 m - Intercept Depth: 353 m #### Classification - Program: mixed - Sample Type: drill - Group ID: 25IGRC098D:353-364 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This intercept from the Phase 4 program at Vadrians shows high-grade gold over a significant width, confirming extensions of the mineralized system to greater depths. - Positive factor: High-grade gold intercept \(7.1 g/t Au\) over a significant width \(11m\) - Positive factor: Includes a bonanza sub-interval \(3m at 25.3 g/t Au\) - Positive factor: Confirms extensions of Vadrians mineralized system to at least 400m vertical depth Evidence · text > 11m at 7.1 g/t Au from 353m in 25IGRC098D, including 3m at 25.3 g/t Au from 353m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### 25IGRC098D [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-17) Island · gold #### Identity - Hole ID: 25IGRC098D - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 25.3 - Grade Unit: g/t - Intercept: 3 m - From: 353 m - To: 356 m - Intercept Depth: 353 m #### Classification - Program: mixed - Sample Type: drill - Group ID: 25IGRC098D:353-356 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This bonanza-grade sub-interval within 25IGRC098D further demonstrates strong grade continuity at depth within the Vadrians system. - Positive factor: Exceptional bonanza-grade gold intercept \(25.3 g/t Au\) - Positive factor: Demonstrates strong grade continuity at depth Evidence · text > including 3m at 25.3 g/t Au from 353m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### 25IGRC099D [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-18) Island · gold #### Identity - Hole ID: 25IGRC099D - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 7.4 - Grade Unit: g/t - Intercept: 7 m - From: 295 m - To: 302 m - Intercept Depth: 295 m #### Classification - Program: mixed - Sample Type: drill - Group ID: 25IGRC099D:295-302 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This intercept from the Phase 4 program at Vadrians shows high-grade gold over a good width, confirming extensions of the mineralized system. - Positive factor: High-grade gold intercept \(7.4 g/t Au\) over a good width \(7m\) - Positive factor: Confirms extensions of Vadrians mineralized system Evidence · text > 7m at 7.4 g/t Au from 295m in 25IGRC099D #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### 25IGRC028D [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-19) Island · gold #### Identity - Hole ID: 25IGRC028D - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 7.4 - Grade Unit: g/t - Intercept: 6 m - From: 317 m - To: 323 m - Intercept Depth: 317 m #### Classification - Program: mixed - Sample Type: drill - Group ID: 25IGRC028D:317-323 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This intercept from the Phase 4 program at Vadrians shows high-grade gold over a good width, confirming extensions of the mineralized system. - Positive factor: High-grade gold intercept \(7.4 g/t Au\) over a good width \(6m\) - Positive factor: Includes a bonanza sub-interval \(2m at 19.9 g/t Au\) - Positive factor: Confirms extensions of Vadrians mineralized system Evidence · text > 6m at 7.4 g/t Au from 317m in 25IGRC028D, including 2m at 19.9 g/t Au from 318m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### 25IGRC028D [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-20) Island · gold #### Identity - Hole ID: 25IGRC028D - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 19.9 - Grade Unit: g/t - Intercept: 2 m - From: 318 m - To: 320 m - Intercept Depth: 318 m #### Classification - Program: mixed - Sample Type: drill - Group ID: 25IGRC028D:318-320 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This bonanza-grade sub-interval within 25IGRC028D further demonstrates strong grade continuity at depth within the Vadrians system. - Positive factor: Exceptional bonanza-grade gold intercept \(19.9 g/t Au\) - Positive factor: Demonstrates strong grade continuity at depth Evidence · text > including 2m at 19.9 g/t Au from 318m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### Fact 22 [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-21) Island · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 1.27 - Grade Unit: g/t - Intercept: 8 m - From: 56 m - To: 64 m - Intercept Depth: 56 m #### Classification - Program: exploration - Sample Type: drill - Group ID: Island:56-64 #### Location - Location: First Light - Loc. Source: document #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This air-core result at First Light is a positive indicator for new target generation, providing a vector towards potential fresh-rock mineralization. - Positive factor: Identifies a new target \(First Light\) for deeper RC testing - Positive factor: Good grade \(1.27 g/t Au\) over a reasonable width \(8m\) for near-surface anomalism - Negative factor: Near-surface result, significance lies primarily as a vector to fresh-rock positions Evidence · text > 8m at 1.27 g/t Au from 56m at First Light #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 23 [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-22) Island · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 1.78 - Grade Unit: g/t - Intercept: 4 m - From: 28 m - To: 32 m - Intercept Depth: 28 m #### Classification - Program: exploration - Sample Type: drill - Group ID: Island:28-32 #### Location - Location: Eureka - Loc. Source: document #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This air-core result at Eureka is a positive indicator for new target generation, providing a vector towards potential fresh-rock mineralization. - Positive factor: Identifies a new target \(Eureka\) for deeper RC testing - Positive factor: Good grade \(1.78 g/t Au\) over a reasonable width \(4m\) for near-surface anomalism - Negative factor: Near-surface result, significance lies primarily as a vector to fresh-rock positions Evidence · text > 4m at 1.78 g/t Au from 28m at Eureka #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### 26IGRC015 [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-23) Island · gold #### Identity - Hole ID: 26IGRC015 - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 3 - Grade Unit: g/t - Intercept: 12 m - From: 118 m - To: 130 m - Intercept Depth: 118 m #### Classification - Program: mixed - Sample Type: drill - Group ID: 26IGRC015:118-130 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This intercept from a parallel drill hole west of Vadrians indicates significant gold mineralization outside the principal lode, expanding the exploration model. - Positive factor: Good gold intercept \(3.0 g/t Au\) over a significant width \(12m\) - Positive factor: Includes a higher-grade sub-interval \(5m at 5.82 g/t Au\) - Positive factor: Supports presence of material gold mineralization in parallel structures west of Vadrians Evidence · text > 12m at 3.00 g/t Au from 118m \(26IGRC015\), including 5m at 5.82 g/t Au #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### 26IGRC015 [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-24) Island · gold #### Identity - Hole ID: 26IGRC015 - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 5.82 - Grade Unit: g/t - Intercept: 5 m - From: 118 m - To: 123 m - Intercept Depth: 118 m #### Classification - Program: mixed - Sample Type: drill - Group ID: 26IGRC015:118-123 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This high-grade sub-interval within 26IGRC015 further supports the presence of significant gold mineralization in parallel structures west of Vadrians. - Positive factor: High-grade gold intercept \(5.82 g/t Au\) over a good width \(5m\) - Positive factor: Supports presence of material gold mineralization in parallel structures west of Vadrians Evidence · text > including 5m at 5.82 g/t Au #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### 26IGRC0105 [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-25) Island · gold #### Identity - Hole ID: 26IGRC0105 - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 124.74 - Grade Unit: g/t - Intercept: 19 m - From: 42 m - To: 61 m - Intercept Depth: 42 m #### Classification - Program: mixed - Sample Type: drill - Group ID: 26IGRC0105:42-61 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This bonanza-grade intercept is an outstanding result, indicating a new, significant shallow high-grade gold zone west of the main Vadrians lode. - Positive factor: Exceptional bonanza-grade gold intercept \(124.74 g/t Au\) over a significant width \(19m\) - Positive factor: Significant shallow high-grade gold mineralization immediately beneath weathered depletion horizon - Positive factor: Located 120m west of principal Vadrians lode, indicating new high-grade zone Evidence · text > one-metre original split sampling refined the result to 19m at 124.74 g/t Au from 42m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### 26IGRC042D [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-26) Island · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: 26IGRC042D - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 15.36 - Grade Unit: g/t - Intercept: 7 m - From: 268 m - To: 275 m - Intercept Depth: 268 m #### Classification - Program: mixed - Sample Type: drill - Group ID: 26IGRC042D:268-275 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-09-30T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This high-grade intercept at Vadrians, though reported post-year-end, confirms continued strong mineralization at the project. - Positive factor: High-grade gold intercept \(15.36 g/t Au\) over a good width \(7m\) - Positive factor: Confirms continued high-grade mineralization at Vadrians - Negative factor: Result reported subsequent to year end, so not new information for the FY2026 period Evidence · text > Vadrians returned 7.0m at 15.36 g/t Au from 268m in 26IGRC042D #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### 26IGRC002D3 [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-27) Island · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: 26IGRC002D3 - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 1.18 - Grade Unit: g/t - Intercept: 5 m - From: 398 m - To: 403 m - Intercept Depth: 398 m #### Classification - Program: mixed - Sample Type: drill - Group ID: 26IGRC002D3:398-403 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-09-30T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This intercept, though reported post-year-end, is positive as it extends mineralization at Vadrians significantly beyond previous limits, indicating further depth potential. - Positive factor: Extends mineralization approximately 100 metres beyond prior drill extents - Positive factor: Good grade \(1.18 g/t Au\) over a reasonable width \(5m\) at depth - Negative factor: Result reported subsequent to year end, so not new information for the FY2026 period Evidence · text > 5.0m at 1.18 g/t Au from 398m in 26IGRC002D3, with the latter extending mineralisation approximately 100 metres beyond prior drill extents #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### 26IGRC045D [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-28) Island · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: 26IGRC045D - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 10 - Grade Unit: g/t - Intercept: 7 m - From: 119 m - To: 126 m - Intercept Depth: 119 m #### Classification - Program: mixed - Sample Type: drill - Group ID: 26IGRC045D:119-126 #### Location - Location: Baxter - Loc. Source: document #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-09-30T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This high-grade intercept at Baxter, though reported post-year-end, confirms strong mineralization at this target within the Island Gold Project. - Positive factor: High-grade gold intercept \(10.0 g/t Au\) over a good width \(7m\) - Positive factor: Includes a bonanza sub-interval \(5m at 13.78 g/t Au\) - Positive factor: Confirms mineralization at Baxter - Negative factor: Result reported subsequent to year end, so not new information for the FY2026 period Evidence · text > Baxter returned 7.0m at 10.00 g/t Au from 119m in 26IGRC045D, including 5.0m at 13.78 g/t Au #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### 26IGRC045D [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-29) Island · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: 26IGRC045D - Project: Island - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CRS #### Geometry - Grade: 13.78 - Grade Unit: g/t - Intercept: 5 m - From: 119 m - To: 124 m - Intercept Depth: 119 m #### Classification - Program: mixed - Sample Type: drill - Group ID: 26IGRC045D:119-124 #### Location - Location: Baxter - Loc. Source: document #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-09-30T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This bonanza-grade sub-interval within 26IGRC045D further confirms strong mineralization at the Baxter target. - Positive factor: Exceptional bonanza-grade gold intercept \(13.78 g/t Au\) - Positive factor: Good intercept length \(5m\) for such high grade - Positive factor: Confirms strong mineralization at Baxter - Negative factor: Result reported subsequent to year end, so not new information for the FY2026 period Evidence · text > including 5.0m at 13.78 g/t Au #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### Fact 31 [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-33) #### Identity - Ticker: CRS #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: The successful equity placement provides significant funding to advance the company's exploration strategy, indicating strong investor confidence and enabling accelerated work programs. - Positive factor: Substantial capital raise \(A$12.8 million\) strengthens financial position - Positive factor: Enables acceleration of exploration activities and multi-rig drilling program - Positive factor: Supported by institutional and sophisticated investors Evidence · text > In March 2026, Caprice completed an equity placement raising approximately A$12.8 million in gross proceeds through the issue of 159.25 million fully paid ordinary shares at A$0.08 per share. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 32 [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-34) West Arunta Project #### Identity - Project: West Arunta Project - Region: australia\_wa - Reported Region: Western Australia - Ticker: CRS #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: The divestment of a majority interest in the West Arunta Project generated significant cash while retaining upside exposure, allowing the company to strategically focus its capital and management on its core gold assets. - Positive factor: Delivered A$2.7 million in cash, strengthening financial capacity - Positive factor: Preserves free-carried exposure to future exploration success \(retained 15% and 25% interests\) - Positive factor: Allows focus of resources on primary Murchison gold portfolio Evidence · text > The agreement to divest a 75% interest in West Arunta, completed shortly after year end, delivered A$2.7 million in cash while preserving free-carried exposure to future exploration success. The divestment strengthened our capacity to fund the work in the Murchison without completely relinquishing the potential upside from a project that was no longer our principal priority. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 33 [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-drill-facts-35) Comet Gold Project #### Identity - Project: Comet Gold Project - Region: australia\_wa - Reported Region: Western Australia - Ticker: CRS #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: The acquisition of a 75% interest in the Comet Gold Project expands the company's Murchison gold portfolio, providing a new growth opportunity in a familiar and well-endowed region. - Positive factor: Expands Murchison gold portfolio with a complementary, earlier-stage growth opportunity - Positive factor: Geological similarities to Island and proximity to established regional gold infrastructure - Positive factor: Acquisition strengthens the company's strategic focus on gold Evidence · text > During FY2026, Caprice acquired a 75% interest in the Comet Gold Project. Comet is located approximately 22 kilometres south-east of Cue within the same broader greenstone belt as Island and covers approximately 68 square kilometres of tenure \(Figure 2\). #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ## Metallurgical Results (3) ### gravity and CIL [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-metallurgical-facts-30) Island Gold Project · gold #### Identity - Project: Island Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: CRS #### Test Work - Program Status: preliminary - Test Type: gravity and CIL - Processing Route: gravity and carbon-in-leach - Sample: high-grade fresh-mineralisation RC composite - Grind P80: 75 µm - Leach Time: 24 hours #### Recovery - Recovery: 94 % - Recovery Basis: actual\_test - Head Grade: 13.3 - Head Grade Unit: g/t #### Reagents - Reagent Notes: Reagent consumption was moderate, organic carbon was low, no preg-robbing or preg-borrowing behaviour was observed and no asbestiform mineral fibres were detected. #### Lab - Laboratory: JT Metallurgical Services Pty Ltd #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Initial metallurgical testwork at Vadrians returned excellent gold recoveries using a conventional gravity and CIL process, with rapid kinetics and no processing issues, which is a strong positive for project development, though it is early stage. - Positive factor: High gold recovery \(94%\) for a conventional gravity and CIL route - Positive factor: Rapid leach kinetics \(92% extraction within 24 hours\) - Positive factor: No deleterious elements or preg-robbing/borrowing observed - Positive factor: Confirms amenability to conventional processing - Negative factor: Early-stage testwork on a single composite, not representative of all mineralization Evidence · text > The master composite returned overall gold recovery of 94% at P80 75 microns, approximately 92% recovery at the coarser P80 106 micron grind, gravity gold recovery exceeding 33% and more than 92% extraction within 24 hours at P80 75 microns. Reagent consumption was moderate, organic carbon was low, no preg-robbing or preg-borrowing behaviour was observed and no asbestiform mineral fibres were detected. #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the mill\_cil signal **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: processing\_route matches the gravity signal ### gravity and CIL [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-metallurgical-facts-31) Island Gold Project · gold #### Identity - Project: Island Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: CRS #### Test Work - Program Status: preliminary - Test Type: gravity and CIL - Processing Route: gravity and carbon-in-leach - Sample: high-grade fresh-mineralisation RC composite - Grind P80: 106 µm #### Recovery - Recovery: 92 % - Recovery Basis: actual\_test - Head Grade: 13.3 - Head Grade Unit: g/t #### Reagents - Reagent Notes: Reagent consumption was moderate, organic carbon was low, no preg-robbing or preg-borrowing behaviour was observed and no asbestiform mineral fibres were detected. #### Lab - Laboratory: JT Metallurgical Services Pty Ltd #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Initial metallurgical testwork at Vadrians shows high gold recovery even at a coarser grind, suggesting potential for cost efficiencies in processing, which is a positive indicator. - Positive factor: High gold recovery \(92%\) at a coarser grind size \(P80 106 microns\) - Positive factor: Indicates potential for lower grinding costs while maintaining high recovery - Positive factor: No deleterious elements or preg-robbing/borrowing observed - Negative factor: Early-stage testwork on a single composite, not representative of all mineralization Evidence · text > The master composite returned overall gold recovery of 94% at P80 75 microns, approximately 92% recovery at the coarser P80 106 micron grind, gravity gold recovery exceeding 33% and more than 92% extraction within 24 hours at P80 75 microns. Reagent consumption was moderate, organic carbon was low, no preg-robbing or preg-borrowing behaviour was observed and no asbestiform mineral fibres were detected. #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the mill\_cil signal **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: processing\_route matches the gravity signal ### gravity [Link to this fact](https://atlas-staging.minestarters.com/news/crs-annual-report-to-shareholders--71895598-27ef-4ba2-bd4a-8e75bc3a4a4f#fact-metallurgical-facts-32) Island Gold Project · gold #### Identity - Project: Island Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: CRS #### Test Work - Program Status: preliminary - Test Type: gravity - Processing Route: gravity - Sample: high-grade fresh-mineralisation RC composite #### Recovery - Recovery: 33 % - Recovery Basis: actual\_test - Head Grade: 13.3 - Head Grade Unit: g/t #### Reagents - Reagent Notes: Reagent consumption was moderate, organic carbon was low, no preg-robbing or preg-borrowing behaviour was observed and no asbestiform mineral fibres were detected. #### Lab - Laboratory: JT Metallurgical Services Pty Ltd #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: The initial metallurgical testwork at Vadrians shows good gravity gold recovery, suggesting the presence of free gold which is a positive for processing amenability. - Positive factor: Significant gravity gold recovery \(exceeding 33%\) - Positive factor: Indicates presence of free gold, which is generally easier and cheaper to recover - Positive factor: No deleterious elements or preg-robbing/borrowing observed - Negative factor: Early-stage testwork on a single composite, not representative of all mineralization Evidence · text > gravity gold recovery exceeding 33% #### Tags used in scoring **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: processing\_route matches the gravity signal **Low Recovery** Polarity: negative Definition: Recovery below the weak band for the commodity and processing route. Why it applies: 33% is below the weak band \(80%\) ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.