Results have been received from the first four reverse circulation drill holes of an eight-hole regional program, testing gold anomalies along the Hercules Shear Zone.

Carawine Resources Ltd has identified two advanced gold targets for follow-up reverse circulation (RC) and diamond drilling at its Neale tenement within the Thunderstruck joint venture in Western Australia’s eastern goldfields region, including one new discovery at the Big Freeze and Beanie prospects.

The Thunderstruck joint venture is part of the company’s large Tropicana North Project where Carawine (ASX:CWX) is currently drilling out the high-grade Hercules gold prospect within the Neale tenement.

Assays have defined a large, greater than 700m long continuous gold zone above 1g/t gold at Big Freeze. One interval of 6m at 1.12g/t gold from 64m includes 1m at 4.22g/t gold in quartz-sulphide veins.

At the new Beanie prospect, around 1.5km from the Hercules gold prospect, 1m at 2.42g/t from 172m was returned 75m below a historic intersection of 3m at 1.48g/t from 90m.

Locally and regionally significant results

Carawine (ASX:CWX) considers these latest results as highly significant in both a local and a regional context.

Locally, Carawine’s drilling at Hercules shows +1g/t Au intervals to be a reliable indicator of potential high-grade gold mineralisation, especially those associated with quartz-sulphide veining.

Regionally, the large Tropicana gold mine, 60km to the southwest, was discovered by following up +1g/t Au drill intervals within a +3ppb gold geochemical anomaly.

Potential continues to grow

CWX managing director David Boyd said the potential of the Tropicana North project continues to grow.

“Today’s results from the first four holes of an eight-hole program enable us to target a well-defined 700m-long gold trend within a much larger gold footprint at Big Freeze.

“The discovery of a new prospect at Beanie provides us with another compelling drill target, just 1.5km from our Hercules prospect.”

Boyd said the company has plans in place for follow-up drilling at both Big Freeze and Beanie, which Carawine expects to follow on from the current Hercules program.

Up to 12 new target regions

“In addition to the assay results reported today, the company has identified 12 new target regions from an initial interpretation of the recently completed aeromagnetic survey over the Neale tenement.

“These add significantly to our list of exploration targets for Tropicana North and support our strategy of establishing a major new gold camp in the region, with Hercules, Atlantis, Big Freeze and Beanie just the first of many targets to explore.”

Carawine’s Tropicana North Project covers 80km strike of the Tropicana Belt, containing strike extensions of the same and similar rock units and structures to those hosting the large Tropicana gold mine, operated by AngloGold Ashanti Australia (ASX:AGG) and Regis Resources (ASX:RRL).

Several early stage to advanced gold prospects have been identified within the project, providing Carawine with a large pipeline of high-quality exploration targets to focus its exploration activities.




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.