Carawine Resources Claims New Hill 800 Gold Discovery

THE DRILL SERGEANT: Carawine Resources (ASX: CWX) claimed discovery of a new high-grade gold and copper zone at the Hill 800 prospect within the company’s 100 per cent-owned Jamieson project in northeast Victoria.

Carawine Resources claimed the discovery following receipt of an outstanding assay interval from the current diamond drilling program at Hill 800.

The assay results are from the first diamond drill hole of the current program, targeting the down-dip and along-strike extents of porphyry-related mineralisation at Hill 800.

Assays included an interval of:

11 metres at 9.87 grams per tonne gold, 0.3 per cent copper and 14.6g/t silver from 179m (0.3g/t gold cut-off), including 4m at 26.7g/t gold, 0.7 per cent copper and 38.7g/t silver from 179m (1g/t gold cut-off).

Carawine explained that this latest interval, exceeding 100 gram-metres gold, with high copper and unusually high silver grades, is from a new semi-massive sulphide lens about 50m to the west of the main mineralised zone at Hill 800.

It is open down-dip and along strike into areas untested by drilling.

“These latest results have expanded the mineral system at Hill 800, with a potentially significant new zone of very high-grade gold and copper mineralisation identified,” Carawine Resources managing director David Boyd said in the company’s announcement to the Australian Securities Exchange.

“This is just the first hole of our current program exploring the depth extents of Hill 800, and we are yet to define the edges of the mineral system.

“We have established that the host rocks and mineralising fluids were likely sourced from a fertile copper-gold porphyry system, and that the more we drill the more we grow the potential size and grade of the deposit.

“It is therefore exciting to think what the rest of this program will deliver in terms of grade and mineralisation styles, and we look forward to presenting those results as they are received.

“We are also looking forward to drilling the first of several magnetic anomalies identified as potential porphyry targets, expected to commence within the next two weeks.”

A second diamond drill hole (H8DD021) targeting the main zone of mineralisation, 50m along strike from H8DD020 was recently completed to a depth of 446m.

Samples from this hole have been submitted for assay and Carawine anticpates results to be ready within the next four weeks.

A third drill hole is currently in progress.