For years gold explorers and miners have yearned for a genuine follow up to the Tropicana gold mine east of Kalgoorlie in WA, a multi-million ounce monster on the western edge of the Great Victoria Desert discovered in 2005.

But the region is beginning to show signs of life for junior gold explorer Carawine Resources (ASX:CWX), which is latching on to a bevy of significant gold occurrences at its Tropicana North project.

$29 million capped Carawine commands 80km of strike in similar rock units and structures to those hosting AngloGold Ashanti (ASX:AGG) and Regis Resources’ (ASX:RRL) 450,000ozpa gold mine in the Tropicana belt.

Its latest hits at the Big Freeze prospect have defined an open gold trend over more than 100m, which included a 5m interval at 18.2g/t reported last week.

Drill hole TNRC060 uncovered a number of mineralised gold intersections including:

  • 2m at 2.39g/t from 138m, including 1m at 4.26g/t; and,
  • 4m at 1.83g/t from 159m.

Meanwhile hole TNRC056, also at Big Freeze, also struck 5m at 0.59g/t from 54m, including 1m at 2.03g/t.

More drilling is being planned to follow up the fertile trend.

“These latest results from Big Freeze define a mineralised trend that now extends across three drill lines, including the 5m @ 18.2g/t Au interval reported last week,” Carawine managing director David Boyd said.

“We will plan additional drilling to follow-up this trend, which remains open, and has the potential to deliver another high grade gold deposit to our Tropicana North Gold Project.”

Beanie delivers the goods

It’s not only the Big Freeze prospect that is lighting up for Carawine, with RC drilling at the Beanie prospect some 1.5km northeast of the Hercules prospect also lighting up.

They included gold intersections of 1m at 3.01g/t from 87m and 1m at 2.32g/t from 144m.

“The results at Beanie are also highly encouraging, especially given the limited amount of drilling completed to date, with a clear open trend on which to focus future drilling,” Boyd said.

Assay results reported by the company included the last four holes of an 18-hole RC drive at Big Freeze, with just two holes sunk into Beanie, testing anomalies for high grade gold mineralisation along and to the east of the Hercules shear zone.

With the results released today there is little doubt both prospects will be followed up in further drilling.

Both prospects are part of the Neale tenement at the Thunderstruck JV, where Carawine holds a 90% controlling interest, alongside its Hercules and Atlantis prospects.



This article was developed in collaboration with Carawine Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.