The prolific gold and base metals explorer has identified new gold mineralisation at the Hercules prospect, inside its Tropicana North Project in WA.

Latest assay results returned from a major shear zone which has been largely untested by drilling include:

  • 3m at 1.03 g/t Au from 382m, including 2m at 1.33 g/t Au from 382m, and 1m at 1.82 g/t Au, 0.3% Cu from 394m.

An additional nine diamond holes are planned, with one of the sector’s busiest programs so far expected to continue through to late March 2022.

New target for future exploration

“These latest assay results have identified new mineralisation to the west of the main mineralised zone at Hercules, opening up a new target area for future exploration,” Carawine Resources (ASX:CWX) MD David Boyd told Stockhead.

“We are continuing to target extensions to the main zone of high-grade mineralisation at Hercules, with assay results pending for three recently completed holes, and nine more holes planned in the current program.”

The company plans to complete follow up drilling to test the shear zone up-dip and along strike to target additional, higher grades.

Carawine Resources
Pic: Hercules prospect plan view of geology and mineralisation.

Big Freeze follow up underway

Carawine has a large pipeline of quality exploration targets to focus on, with RC drilling also underway at the Big Freeze discovery, about 8km southwest of Hercules.

The aim is to test for high-grade, continuous gold along a 900m long +1g/t gold anomaly.

Eighteen holes are planned for around 3,000m, with drilling expected to take 3 to 4 weeks to complete.

“We have started follow-up drilling of the large gold trend at our Big Freeze discovery, as part of our regional exploration program targeting additional, large deposits in the highly prospective Tropicana belt,” Boyd said.

“We look forward to announcing updates and results as both drilling programs continue.”




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.