THE DRILL SERGEANT: Carawine Resources (ASX: CWX) declared that recent drilling at Hill 800 within the company’s 100 per cent-owned Jamieson project in northeast Victoria indicate a potential copper-gold porphyry intrusive.
Carawine Resources said that drilling results from Hill 800 had identified a broad intersection of intense alteration at Hill 800 with anomalous molybdenum and gold grades that could be close to a copper-gold porphyry intrusive.
The company described the silica-sericite-pyrite alteration zone intersected in drill hole H8DD021 as being geochemically distinct from the rhyodacite-hosted mineralisation at Hill 800, which it believes may represent a style of alteration common to the ‘shoulder’ of mineralised porphyry intrusive systems.
Carawine went on to explain that the intense silicification and extremely high pyrite content, which locally is semi-massive, has an intensity of alteration not seen before at this depth within the Hill 800 system.
High magnetic susceptibility values, broad zones of elevated molybdenum, and consistently elevated gold grades towards the end of hole are all considered to be potential vectors towards a copper-gold mineralised porphyry system.
The company considers the style and intensity of alteration intersected in this hole reinforces the potential for fertile copper-gold porphyry intrusions being targeted in the Jamieson project.
“H8DD021 is one of the deepest holes we have drilled at the Hill 800 deposit and it has returned some of the strongest alteration seen to date,” Carawine Resources managing director Mr David Boyd said in the company’s announcement to the Australian Securities Exchange.
“The correlation between elevated molybdenum assays and magnetic susceptibility readings are both strong indicators that we could be close to the porphyry source of the Hill 800 mineralisation.”