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Carawine Resources Encounters New Intersections at Big Freeze and Beanie

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THE DRILL SERGEANT: Carawine Resources (ASX: CWX) reported results from the latest round of assays from follow-up RC drilling programs at the Thunderstruck Joint Venture (Carawine 90% interest) within the company’s Tropicana North gold project, located in the north-eastern Goldfields of Western Australia.

Carawine Resources completed drilling at the Big Freeze and Beanie prospects, adding to the strike length of previously identified mineralisation.

The Big Freeze and Beanie are within the Neale tenement, part the Thunderstruck JV.

The Neale tenement also covers the company’s Hercules and Atlantis gold prospects.

Assays from Big Freeze included:

TNRC060
2m at 2.39 grams per tonne gold from 138m, including 1m at 4.26g/t gold and 4m at 1.83g/t gold from 159m; and

TNRC056
5m at 0.59g/t gold from 54m, including 1m at 2.03g/t gold.

From the Beanie prospect, located 1.5km north-east of the Hercules gold prospect, new intervals included:

TNRC064
1m at 3.01g/t gold from 87m and 1m at 2.32g/t gold from 144m.

“These latest results from Big Freeze define a mineralised trend that now extends across three drill lines, including the 5m at 18.2g/t gold interval reported last week,” Carawine Resources managing director David Boyd said in the company’s ASX announcement.

“We will plan additional drilling to follow-up this trend, which remains open, and has the potential to deliver another high-grade gold deposit to our Tropicana North gold project.

“The results at Beanie are also highly encouraging, especially given the limited amount of drilling completed to date, with a clear open trend on which to focus future drilling.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@carawine.com.au

 

Web: www.carawine.com.au

 

Carawine Resources Defines Don King Gold Trends

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THE DRILL SERGEANT: Carawine Resources (ASX: CWX) reported assay results from twenty air-core (AC) holes recently drilled at the Don King prospect, part of the company’s Tropicana North project in Western Australia.

Carawine Resources completed three wide-spaced drill traverses have defined two new +10ppb anomalous gold zones (peak 86ppb Au), up to 2km in strike length and up to 1.5km wide associated with major structural trends just 30 kilometres along strike from the large Tropicana gold mine (owned by AngloGold Ashanti Australia Ltd & IGO Ltd).

“These results from just our first drilling program at Don King establish the potential for significant gold discoveries on the tenement,” Carawine Resources managing director David Boyd said in the company’s ASX announcement.

“There are now three parallel mineralised structures at Don King, in rocks and structures similar to those hosting Tropicana, just 30 kilometres up the road.

“We will now plan follow-up drilling which is likely to include infill AC drilling of the anomalies announced today, before deeper drilling to test their source, and extending our AC coverage further east into areas where there has been little or no drilling to date.

“Meanwhile, our exploration team are expected to mobilise to Tropicana North in the coming weeks as we prepare for follow-up drilling programs at our high-grade Hercules gold prospect.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@carawine.com

 

Web: www.carawine.com

 

Carawine Resources Drills Potential Atlantis Mineralisation Extension

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THE DRILL SERGEANT: Carawine Resources (ASX:CWX) reported assay results from RC drilling at the Atlantis prospect, located within the Thunderstruck Joint Venture (Carawine 90% interest), which forms part of the company’s Tropicana North project located in the north eastern goldfields of Western Australia.

Carawine Resources completed eight RC holes in January 2021 as part of an initial air core (AC) and RC drilling campaign, the results of which have demonstrated potential for mineralisation to extend beyond the high-grade central zone defined by previous explorers.

Recent results from Carawine’s RC program returned:

TNRC013
6 metres at 0.99 grams per tonne gold from 80m (main lode), including 5m at 1.05g/t gold from 81m,
2m at 1.84g/t gold from 49m (parallel lode), including 1m at 3.31g/t gold from 49m, and
1m at 4.16g/t gold from 112m (parallel lode); and

TNRC017
2m at 2.48g/t gold from 88m (new lode trend) including 1m at 4.52g/t gold from 89m.

“Previous explorers intersected bonanza gold grades, including 15 metres at 21 grams per tonne gold from just 50 metres below surface at the Atlantis prospect,” Carawine Resources managing director David Boyd said in the company’s ASX announcement.

“Our step-out drilling was unable to repeat these high-grades beyond this central zone, although we were successful in expanding the mineralised footprint at lower grades.

“We will design future drilling at Atlantis to improve our understanding of the orientation and controls on the bonanza gold grades in the central zone and follow up the lower grade intervals returned from this program.

“In the meantime, we are rapidly advancing preparations for RC and diamond drilling programs to follow up the outstanding high-grade gold intervals recently reported from our Hercules prospect, and look forward to updating the market as these are progressed.”

 

TO READ THE FULL ANOUNCEMENT: CLICK HERE

 

Email: info@carawine.com.au

 

Web: www.carawine.com.au

 

 

Carawine Resources Claims New Hill 800 Gold Discovery

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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:

H8DD020
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.

 

Email: info@carawine.com.au

Web: www.carawine.com.au

 

THE DAILY ROADHOUSE

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Musgrave Minerals Intersects High-Grade Link Lode at Break of Day

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported the intersection of high-grade gold in a ‘link’ position joining the two main gold lodes at the Break of Day deposit on the company’s Cue gold project in Western Australia.

Carawine Resources Identifies New Victorian Porphyry Copper-Gold Targets

THE DRILL SERGEANT: Carawine Resources (ASX: CWX) announced geophysical results from a detailed helicopter-borne magnetic and radiometric (heli-mag) geophysical survey completed at the company’s 100 per cent-owned Jamieson project in northeast Victoria, host to the Hill 800 and Rhyolite Creek prospects.

Alicanto Minerals Completes Geophyisal IP Survey at Wolf Mountain

THE DRILL SERGEANT: Alicanto Minerals (ASX: AQI) completed its maiden IP survey at the company’s Wolf Mountain copper-gold target area within the Bergslagen district of Southern Sweden.

Ausgold Raising up to $3.6 Million for Katanning Gold Project

THE BOURSE WHISPERER: Ausgold Limited (ASX: AUC) informed the market it has received binding commitments from institutional and sophisticated investors for a share placement to raise $2.376 million.

 

THE DAILY ROADHOUSE

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Alicanto Minerals Identifies New Targets at Wolf Mountain

THE DRILL SERGEANT: Alicanto Minerals (ASX: AQI) has identified a new regional scale hydrothermal mineralised system at the Wolf Mountain prospect within the company’s optioned Oxberg and Naverberg VMS in the Bergslagen Mining District of Southern Sweden.

Auroch Minerals Intercepts More Saints Nickel

THE DRILL SERGEANT: Auroch Minerals (ASX: AOU) released assay results from the first six drill-holes from the first drilling program to be carried out at the company’s recently-acquired Saints nickel project, located near Kalgoorlie in Western Australia.

Carawine Resources Strike Farm-In and Joint Venture with FMG

THE BOURSE WHISPERER: Carawine Resources (ASX: CWX) has entered into a Farm-In and Joint Venture Agreement with a subsidiary of FMG Resources (ASX: FMG).

Breaker Resources Funded to Drill Bombora

THE BOURSE WHISPERER: Breaker Resources (ASX: BRB) has agreed to a non-brokered $8 million share placement to Electrum Strategic Opportunities Fund II LP, a major US-based private equity fund focused on precious metals.

Corazon Mining to Commence Drilling at Lynn Lake

THE DRILL SERGEANT: Corazon Mining (ASX: CZN) announced plans for drilling to be carried out at the company’s Lynn Lake nickel-copper-cobalt sulphide project in Manitoba, Canada.

Ardiden Identifies New Pickle Lake Gold Targets

THE DRILL SERGEANT: Ardiden Limited (ASX: ADV) has identified several priority targets for gold mineralisation at the West Pickle prospect, part of the company’s 100 per cent-owned Pickle Lake gold project in Ontario, Canada.

 

Carawine Resources Strike Farm-In and Joint Venture with FMG

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THE BOURSE WHISPERER: Carawine Resources (ASX: CWX) has entered into a Farm-In and Joint Venture Agreement with a subsidiary of FMG Resources (ASX: FMG).

Carawine Resources said the deal will cover exploration of the Lamil Hills (E45/5326), Trotman South (E45/4847) and Sunday (E45/5229) tenements all part of the company’s Paterson project in Western Australia.

Lamil Hills is within 30 kilometres to the northwest of Newcrest Mining’s Telfer gold-copper mine; Trotman South is 30km to the south of the Telfer mine; and Sunday is within 5km of Metals X’s Maroochydore copper-cobalt deposit.

The tenements are at an early exploration stage, with Carawine’s work to date comprising target generation activities based mostly on work by previous explorers.

Under the terms of the agreement FMG will explore Carawine’s eastern Paterson project tenements targeting copper, gold and base metals.

Fortescue is to pay $125,000 cash up front and spend $0.5 million on exploration in the first eighteen months.

Fortescue has the right to earn up to a 75 per cent interest by spending $6 million total in two stages:

Stage 1: 51 per cent interest after $1.5 million exploration spend within three years; and
Stage 2: 24 per cent interest after additional $4.5 million exploration spend within four years.

The agreement works well for both entities as it provides Fortescue with highly prospective tenement holding within the Paterson Province and ensures Carawine is well positioned to share in the benefits of any discovery.

The deal complements Carawine’s recent farm-in and joint venture agreement with Rio Tinto subsidiary, Rio Tinto Exploration Pty Ltd, with the potential for up to $11.5 million to be spent on exploration at the Paterson Project under both agreements.

“With the addition of Fortescue as a partner in the Paterson we now have two major resource companies funding exploration on our Paterson tenements,” Carawine Resources managing director David Boyd said in the company’s announcement to the Australian Securities Exchange.

“This Agreement gives Fortescue access to underexplored tenements over highly prospective ground.

“This deal also ensures Carawine is well positioned to share in the benefit of any discoveries, with Fortescue well placed to support a potential development should the exploration activities be successful.

“The Agreement with Fortescue represents a further endorsement of Carawine’s exploration targeting strategy, which has already led to the formation of active joint ventures with Rio Tinto Exploration in the Paterson province and with Independence Group NL in the Fraser Range region of WA.”

 

Email: info@carawine.com.au

Web: www.carawine.com.au

 

THE DAILY ROADHOUSE

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Comet Resources Scores High Results Graphite From Springdale Diamond Drilling

THE DRILL SERGEANT: Comet Resources (ASX: CRL) kicked the dew off the grass on Day Two of the 2019 Brisbane Resources Roundup by announcing high-grade results from the first hole of a recent diamond drilling program conducted at the company’s Springdale graphite project in southern West Australia.

Hammer Metals Kicks Off Bronzewing South Follow-up Drilling Program

THE DRILL SERGEANT: Hammer Metals (ASX: HMX) announced the commencement of an aircore drilling program at the company’s Bronzewing South gold project located in the Yandal Belt of Western Australia.

Carawine Resources to Target Copper-Gold Porphyries

THE DRILL SERGEANT: Carawine Resources (ASX: CWX) is set to commence a detailed, helicopter-borne magnetic survey to further evaluate copper-gold porphyry targets at the company’s 100 per cent-owned Jamieson project in northeast Victoria.

Matador Mining Expands Canadian Mineralisation

THE DRILL SERGEANT: Matador Mining (ASX: MZZ) extended the mineralised area at the Window Glass Hill deposit at the company’s Cape Ray gold project in Newfoundland, Canada.

Red 5 Targets History to Expand KOTH Mineralisation

THE DRILL SERGEANT: Red 5 Limited (ASX: RED) recently conducted underground exploration drilling at the company’s King of the Hills (KOTH) gold mine in the Eastern Goldfields region of Western Australia.

Carawine Resources to Target Copper-Gold Porphyries

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THE DRILL SERGEANT: Carawine Resources (ASX: CWX) is set to commence a detailed, helicopter-borne magnetic survey to further evaluate copper-gold porphyry targets at the company’s 100 per cent-owned Jamieson project in northeast Victoria.

Carawine Resources’ Jamieson project is host to the Hill 800 and Rhyolite Creek prospects where in September the company announced the potential for mineralisation at Hill 800 to be related to a copper-gold porphyry system, based on analysis of multi-element geochemical data from Hill 800 by Dr. Scott Halley, an expert in this field.

This followed the recognition of two distinct magnetic anomalies identified from regional-scale survey data at Jamieson.

Carawine indicated it considers magnetic anomalies to be commonly associated with mineralised porphyries and provide excellent targets for drill testing and the company has been encouraged by the recent success by Stavely Minerals (ASX: SVY) at its Thursday’s Gossan porphyry copper-gold project in western Victoria, citing the similarities in host rock age, chemistry and depositional setting of Jamieson with the host rocks for the Thursday’s Gossan project.

“The exploration program over the next few months promises to be an exciting period for the company,” Carawine Resources managing director David Boyd said in the company’s announcement to the Australian Securities Exchange.

“We began to realise the potential for a copper-gold porphyry driving the mineral system at Hill 800 and its surrounds in July this year, and have since been developing this concept towards the point where we have the confidence to accurately define targets for drill testing.

“Following our recent successful capital raising, we are now in a great position to accelerate our exploration program at Jamieson, starting with a detailed magnetic survey that will be used to model the depth and spatial extent of magnetic anomalies beneath Hill 800 and Rhyolite Creek.

“This survey is planned to commence within the next two weeks, with drilling planned to commence soon thereafter, following the release of the company’s first Mineral Resource for Hill 800.

“We are gearing up for an exciting six months of intense exploration targeting porphyry style mineralisation at the Jamieson project.”

 

Email: info@carawine.com.au

Web: www.carawine.com.au

 

Carawine Resources Identifies New Paterson Project Targets

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THE DRILL SERGEANT: Carawine Resources (ASX:CWX) released preliminary results from a VTEM™ Max heli-EM survey completed during June 2019 at the company’s Paterson Project, located in the Paterson Province of Western Australia.

Carawine Resources said the results of the geophysical survey over the Red Dog tenement had identified several new high priority anomalies, adding to the company’s current list of targets within the tenement and setting the it up for an exploration program at the Paterson project this year.

“Helicopter-borne EM systems like VTEM have been successfully deployed to detect anomalies associated with a number of recent discoveries in the Paterson Province, including Rio Tinto’s Winu discovery, as well as defining discrete resistive alteration zones within otherwise conductive sequences such as those associated with Metals X’s Nifty copper deposit,” Carawine Resources managing director David Boyd said in the company’s announcement to the Australian Securities Exchange.

“Preliminary data from our Red Dog survey has resulted in much better definition of targets at known prospects Leatherneck, Earl and Bravo, as well as identifying several new, discrete conductive anomalies.

“Once we have received the final processed data, we will model the sources of these anomalies so they can be prioritised for further groundwork and drill testing.”

Analysis of the preliminary, pre-processed VTEM™ Max data identified twelve conductive and four resistive anomalies in new areas and at previously identified prospects.

All anomalies are in areas with recent transported cover, essentially rendering them ‘blind’ to surface geochemical exploration techniques.

The depth to the basement host rocks under this cover is relatively shallow, ranging from 30m in the west to about 120m in the east of the tenement, meaning any drill testing of the anomalies can be done using relatively inexpensive drilling techniques.

Carawine Resources declared its next step to advance these targets is to confirm and model the anomalies once the finalised dataset has been received, which is expected during August.

This will allow prioritisation of the targets for follow-up ground EM surveys and/or drill testing.

 

Email: info@carawine.com.au

Website: www.carawine.com.au