Caprice Resources (ASX:CRS) executed a drill-for-equity agreement worth AU$1 million with Topdrill as it develops its Murchison gold project in Western Australia, according to a Friday Australian bourse filing.
Material components of Topdrill's future drilling services can be paid for in Caprice ordinary shares. At Caprice's election, equity issued via this arrangement will be voluntarily escrowed for three months.
The agreement expires on March 31, 2026.
It is planning a 5,000-meter follow-up reverse circulation drilling program at its Island gold project, expected to begin this month.
The firm's shares rose over 14% in recent trading on Friday.
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