Similar surveys have led to major nickle discoveries in the region. Pic: Hans Neleman (The Image Bank) via Getty Images.
Carawine kicks off EM exploration at Big Bang, inside the exciting Fraser Range nickel project
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The energetic Aussie gold and base metals explorer has started a Moving-loop electromagnetic (MLEM) survey program exploring for magmatic nickel-copper sulphide deposits at its Big Bang tenement, in the riches of WA’s Fraser Range.
The survey has been designed to test for conductive bedrock anomalies at three priority targets – BB1, BB2 and BB4.
Similar surveys have led to major nickel discoveries in the region, and the company believes the targets have potential for mafic-ultramafic intrusive complexes prospective for the formation of magmatic nickel-copper sulphides.
The survey is expected to take around 40 days to complete.
First on-ground nickel exploration at the project
“The commencement of MLEM surveying at Big Bang represents the first on-ground nickel exploration program on our 100%-owned Fraser Range tenements, and continues a very active period of exploration for the company,” MD David Boyd said.
“We’ve been drilling continuously at our nearby Tropicana North Gold Project since last July, and with our recent successes at Hercules and Big Freeze, more assay results to come, and more drilling planned, we have a full program lined up for the coming months.”
Fraser range has some high-quality neighbours
The Fraser Range is considered highly prospective for magmatic nickel-copper mineralisation, hosting IGO’s (ASX:IGO) Nova-Bollinger nickel-copper-cobalt deposit, and several nickel-copper prospects including Legend Mining’s (ASX:LEG) Mawson discovery 50km to the north, and Galileo Mining’s (ASX:GAL) Lantern project which adjoins Big Bang.
Notably, Carawine Resources (ASX:CWX) has a joint venture with IGO Limited (“IGO”) (ASX: IGO) over five tenements at Red Bull, Bindii, Big Bullocks, and Aries (the Fraser Range Joint Venture).
IGO currently holds a 70% interest in these tenements and can earn up to a further ~6% interest by 30 June 2022 (depending on actual exploration expenditure up to ~$1.3 million).
The remaining tenements are held 100% by Carawine.
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.
