Special Report: Depth extensions of existing gold and copper mineralisation are the first targets of drilling at Carawine’s Jamieson project in Victoria.

Carawine Resources (ASX:CWX) has kicked off diamond drilling that initially targets at depth extensions of known gold mineralisation at the Hill 800 prospect within its Jamieson project in northeast Victoria.

This is of particular interest to the company given that existing drilling indicates that copper and gold grades at the prospect appear to improve with depth.

Previous drilling by Carawine returned 93m at 3.22 grams per tonne (g/t) gold from just 2m below the surface that included a higher grade zone of 31m at 6.64g/t gold from 58m.

A separate hole hit 43m at 4.24g/t gold from 177m including a 5m intersection grading 24.1g/t gold from 203m.

Diamond drilling rig on site at Hill 800

New drilling is targeting extensions of Hill 800 mineralisation to depths between 80m and 160m below the current limit of drilling.

Once that is completed, Carawine will proceed with the drilling of nearby magnetic anomalies for potential porphyry systems beneath and adjacent to Hill 800.

Design of this second phase of drilling will be guided by the results of a recently completed detailed geophysical survey, which the company expects to receive in the coming weeks.

This survey is four times more detailed that previous regional magnetic surveys and should define targets with sufficient accuracy to permit drill testing.

First assay results from the drilling program are expected early in the first quarter of 2020.

“In the time since we last drilled a hole at Hill 800, we have established an exciting new link between mineralisation at Hill 800 and the potential for large gold-copper porphyry systems at the Jamieson project,” managing director David Boyd said.

“We’ve also completed a share placement raising $3m and finalised two joint ventures with Rio Tinto Exploration Pty Limited and FMG Resources Pty Ltd over our Paterson project tenements in Western Australia.

“We are well funded and in a terrific position to commence a busy exploration program at the Jamieson project.”

Work on an initial resource for Hill 800 is also progressing.

Carawine noted that mineralisation at the prospect appeared to have more in common with the upper levels of a porphyry-related mineral system rather than a volcanogenic massive sulphide (VMS) mineral system as it originally thought.

The Jamieson project covers an area of about 120sqkm near the township of Jamieson, a historical gold mining region.

While the focus of exploration has been on Hill 800, which was first discovered by New Holland Mining in 1994, the project also hosts the Rhyolite Creek zinc, gold and silver prospect that was discovered in 2008.

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This story was developed in collaboration with Carawine Resources, a Stockhead advertiser at the time of publishing.
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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