THE DRILL SERGEANT: Carawine Resources (ASX: CWX) announced results from the first hole of a Phase 2 drilling program at Hill 800 gold prospect, located within the company’s 100 per cent-owned Jamieson project in northeast Victoria.
Carawine Resources said the results indicate the discovery of a new gold zone that has the potential to add significant size to the deposit.
The assay results in question are from drill hole H8DD015 that Carawine completed in late December 2018, targeting the continuation of gold and copper mineralisation in the Footwall Stringer Zone.
Results include high-grade intervals of:
6 metres at 4.54 grams per tonne gold, 0.3 per cent copper from 270m (0.3g/t gold cut-off), including 2m at 13.3g/t gold, 0.6 per cent copper from 270m (1g/t gold cut-off).
The hole also intersected a 44m interval of intense silica-sericite-pyrite alteration identical to the 740 and 800 Zones higher in the sequence, in an area untested by previous drilling.
An assay interval was returned from this new 650 Zone of:
33m at 0.86g/t gold from 229m (0.3g/t gold cut-off), including 22m at 1.12g/t gold from 230m (1g/t gold cut-off).
In the company’s announcement to the Australian Securities Exchange, Carawine Resources managing director David Boyd said the discovery of a broad new zone of gold mineralisation associated with intense silica-sericite-pyrite alteration in the 650 Zone, and confirmation of further high-grade mineralisation in the Footwall Stringer zone represents a fantastic start to the second phase of drilling at Hill 800.
“We are less than 12 months into our exploration at Hill 800 and have already discovered four distinct zones of gold mineralisation, putting Carawine in a great position to significantly expand the deposit,” Boyd continued.
“Multiple gold zones are typical for this type of deposit, and the 650 Zone discovery confirms the exploration model, targeting additional stacked systems at Hill 800.
“Drilling is underway with the next two holes targeting further strike extensions to the mineralisation.
“We look forward to advancing the drilling program during February and March and updating our shareholders with additional results in the coming months.”