Carawine is flexing its gold muscles at Hercules

Drilling at Carawine’s Hercules prospect within its Tropicana North project in WA has extended the depth of gold mineralisation by 50m to 250m.

This comes after its ongoing drill program continued to intersect high-grade vein mineralisation with assays topping up at 0.6m grading 11.2 grams per tonne (g/t) gold (TNDD005).

Carawine Resources (ASX:CWX) added that assays are pending for a further five holes while another 11 holes are planned in the current program at Hercules.

“Hercules continues to deliver high gold grades at depth with this latest round of results extending mineralisation from 35m below surface to over 250m below surface, an extension of about 50m from previous drilling,” managing director David Boyd said.

“We’re also highly encouraged by the intersection of laminated sulphidic quartz veins and structures in surrounding drill holes and are looking forward to receiving those assay results over the coming weeks.

“Similar laminated sulphidic quartz veins have also been intersected about 50m north of the previously reported interval of 5m at 13.1g/t gold in TNRC010, meaning Hercules is still very much open for further growth, with plenty of results and drilling yet to come.”

Drilling is also underway at the company’s Red Dog and Red Hill joint ventures with Rio Tinto and IGO respectively, with both majors funding and managing the work.

Hercules prospect

Gold mineralisation at the advanced Hercules prospect is hosted by multiple parallel veins and shears within a wide mineralised zone striking northeast and dipping steeply to the southeast.

To date, mineralisation has been reported along a 340m strike length, extending from 35m to 250m below surface, and remains open.

Carawine adds that the intersection at TNDD004 is anomalously high in bismuth and is interpreted to represent an eastern extension of the structure hosting Hercules mineralisation.

Further drilling is required to confirm this theory with a number of drill holes in the current program planned on the same section and north of TNDD010.

Regional exploration

The company is waiting on assay results from eight RC holes that it recently completed over several regional targets including the Big Freeze prospect.

It has also received final data from a detailed airborne magnetic survey covering about 25km along strike of the major host structures and rock units within the Neale, and adjacent Rason and Dyno tenements.

This will be used initially to put results from the regional RC program into a local and regional context, then as a base for more extensive target generation.

Additionally, target generation work on the recently granted Chicago, Westwood, Pleiades, Python and Bluebell South tenements is continuing.

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.