Carawine set to leverage JV partner Rio’s experience as West Paterson drilling kicks off
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Gold and base metals explorer Carawine Resources’ JV partner Rio Tinto Exploration Pty Ltd (RTX) – a wholly owned subsidiary of Rio Tinto (ASX:RIO) – has kicked off drilling at the West Paterson project in WA.
RTX has the right to earn up to an 80% interest in Carawine’s Baton and Red Dog tenements and is managing and operating the exploration activities whilst it is farming-in.
RC drilling has commenced at Red Dog with around 2,000m planned at the Ghost and Zulu prospects – the first of seven targets identified by Rio.
Rio has extensive experience in the Paterson Province, with recent discoveries including its copper-gold deposit and Ngapakarra gold prospect.
And Carawine Resources’ (ASX:CWX) Red Dog tenement is just 15km from Cyprium Metals (ASX:CYM) Nifty copper and Maroochydore copper-cobalt deposits and 50km from Newcrest Mining’s (ASX:NCM) Telfer gold and copper deposit.
The drilling is expected to take four weeks to complete, will test the first two of several targets identified by Rio Tinto at Red Dog, with the results also used to refine and prioritise future exploration programs.
RTX has also completed a helicopter-borne EM survey over the Baton tenements, targeting gold and copper mineralisation in the highly prospective province – including the Javelin, Discus and Wheeler coincident magnetic/gravity targets previously identified by Carawine.
The preliminary results are expected in November 2021 and will refine exploration planned in the 2022 field season.
“Rio Tinto has identified, developed and advanced several compelling targets within our Red Dog tenement, so it is exciting to see the first two of these being drill-tested,” Carawine managing director David Boyd said.
Boyd said the heli-borne EM survey over Baton is also an important step in advancing exploration on these tenements, “especially given Rio Tinto’s specific in-house knowledge of these systems and their successful application to discovery in the Paterson region.”
“We are pleased to be making some material progress in the Paterson Province and are looking forward to updating the market with results of both programs as they become available,” he said.
With the start of this program at West Paterson and ongoing diamond drilling at its Hercules prospect, Carawine now has drill rigs operating at two of its exploration projects.
“In coming months, we expect drilling will commence at two more projects, at the Fraser Range JV and Oakover JV, so we are looking at a very active period between now and the end of the year,” Boyd said.
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.