Carawine identifies two new priority targets at West Paterson JV
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Carawine Resources’ West Paterson JV partner Rio Tinto (ASX:RIO) subsidiary RTX has identified two priority anomalies from an airborne electromagnetic survey over the Baton tenements.
Anomaly BEM001 is a discrete anomaly associated with a gravity high, located about 1km northwest of the Wheeler prospect, a coincident magnetic/gravity high anomaly defined by the company prior to the JV.
Anomaly BEM006 is a single line anomaly, coincident with a gravity high.
Both anomalies will be integrated with other datasets for target prioritisation and drill planning for 2022.
“Heliborne EM surveys have been highly successful in the Paterson Province in identifying conductive anomalies as potential indicators of mineralisation,” Carawine (ASX:CWX) managing director David Boyd said.
“The identification and prioritisation of these new conductive anomalies is therefore seen as a significant development for the Baton tenements.
“We look forward to these new targets, along with the other priority Baton targets at Discus, Wheeler and Javelin, being advanced ahead of drill testing planned for the 2022 field season.”
RTX has the right to earn up to an 80% interest in Carawine’s Baton and Red Dog tenements and is managing and operating exploration activities while farming in – with RC drilling underway at Red Dog.
“Today’s announcement adds to an already active period for Carawine,” Boyd said.
“With diamond drilling ongoing at the Hercules gold prospect at the company’s Tropicana North Project, IGO drilling at Red Bull in the Fraser Range Joint Venture, and Rio Tinto drilling at Red Dog in the West Paterson JV.”
This article was developed in collaboration with Carawine Resources Limited, 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.