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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:

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

 

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

 

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

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

 

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

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

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

 

Carawine Resources Extends Hill 800 Mineralisation

THE DRILL SERGEANT: Carawine Resources (ASX: CWX) announced a further assay interval from diamond drilling at Hill 800, an advanced gold prospect within the company’s 100 per cent-owned Jamieson project, located in northeast Victoria.

Carawine released the assay result, which was achieved by the last hole drilled in its current program, targeting up-dip extents of the previously drilled 650 Zone and Stringer Zone mineralisation.

Hole H8DD019 returned an interval of:

101 metres at 1.44 grams per tonne gold from 21m (0.3g/t Au cut-off), including 12m at 4.32g/t gold from 83m (1g/t Au cut-off).

The company indicated the results from diamond drill hole H8DD019 have enabled it to develop a new interpretation of the Hill 800 mineralisation, linking the 740 Zone with the 650 Zone and combining with the Stringer Zone into a single mineralised zone (the Main Zone).

This newly defined Main Zone has a northeast strike, and a dip that rotates from steep in the south to moderate in the north.

Of note, the Main Zone is increasing in strike, width and grade with depth where it remains open.

The company described the results from this latest hole as the “missing link” in modelling the Hill 800 mineralisation, with potential now to extend the deposit at depth.

“This latest drill hole establishes a single continuous, wide and high-grade mineralised zone which extends from surface to at least 150 metres below surface, with evidence that mineralisation continues a further 200 metres downdip and remains open,” Carawine Resources managing director David Boyd said in the company’s announcement to the Australian Securities Exchange.

“This provides an excellent opportunity for future drilling to add to the already significant mineralised body at Hill 800.

“The next drilling program at Hill 800 targeting the down-plunge extents of the newly defined Main Zone is expected to commence later this year, following our current exploration program at the Paterson project in Western Australia.

“Our exploration team has recently been in the field at Jamieson, following up surface gold anomalism in the areas immediately around Hill 800 to generate additional near-surface targets.

“Targets generated from this work will be ranked for future drill testing with existing prospects at Rhyolite Creek, Hill 700 and Mt Sunday Road.

“We can also provide an update for our Paterson project where we recently announced a major geophysical program at our Baton and Red Dog tenements.

“The aeromagnetic survey at Baton is in progress and is approximately 60 per cent complete.

“Commencement of the helicopter borne VTEM Max electromagnetic survey at Red Dog has been brought forward to start early in June.

“Results from these programs are expected to be available from June onwards.”

 

Email: info@carawine.com.au

Website: www.carawine.com.au

 

Carawine Resources Commences Major Geophysical Program

THE DRILL SERGEANT: Carawine Resources (ASX: CWX) has kicked off a major geophysical program at the company’s Paterson project located in the Paterson Province of Western Australia.

In February this year, Carawine Resources announced the identification of six priority target areas at the Red Dog and Baton projects from a combination of historic drill and geological data and re-processing of airborne magnetic and electromagnetic (EM) geophysical data.

Each prospect contains many elements common to the major deposits and recent discoveries in the Paterson region, including prospective host rocks, geophysical anomalies, and intrusion-related (skarn-style) alteration.

The company anticipates the results of the program will be used to identify targets for drill testing later this year.

Our Paterson tenements were pegged prior to the recent increase in activity within the region, so we were able to secure areas with the right host rocks, under shallow cover, and limited historic exploration,” Carawine Resources managing director David Boyd said in the company’s announcement to the Australian Securities Exchange.

“The commencement of our Paterson exploration campaign therefore represents an important and exciting stage for the company.

“We are using geophysical methods proven to be successful in the region, particularly on ground similar to ours, and which have led to several major discoveries in the region.”

 

Email: info@carawine.com.au

Website: www.carawine.com.au

 

Carawine Resources Confirms High-Grades at Hill 800

THE DRILL SERGEANT: Carawine Resources (ASX: CWX) released assay results from diamond drilling at Hill 800 within the company’s 100 per cent-owned Jamieson project in northeast Victoria.

Carawine Resources claimed the drilling has confirmed the quality of historic drilling at Hill 800.

The recent results stem from two diamond drill holes Carawine drilled adjacent to historic reverse circulation (RC) drill holes in the near-surface 800 Zone.

The company explained the holes deliberately targeted higher and lower grade parts of the mineralised zone, with the objective being to confirm the historic grades to allow historic drilling (more than 60 drill holes) to be used in an upcoming Mineral Resource estimate.

Results from the diamond drill holes include:

800 Zone

H8DD017
34 metres at 3.84 grams per tonne gold from surface (0.3g/t gold cut-off), including 23m at 5.06g/t gold from surface (1g/t gold cut-off); and

H8DD018
45m at 0.93g/t gold from 30m (0.3g/t Au cut-off), including 7m at 1.51g/t gold from 30m (1g/t gold cut-off), and 5m at 1.21g/t gold from 42m, and 6m at 1.97g/t gold from 53m.

“There is a substantial database of historic drilling at Hill 800 which focussed on the near-surface 800 and 740 Zones,” Carawine Resources managing director David Boyd said in the company’s announcement to the Australian Securities Exchange.

“Our latest drilling results confirm this work to be reliable, of high quality, and suitable for inclusion in our upcoming Mineral Resource estimate for Hill 800.

“We are expecting the next assay results from Hill 800 in about two weeks from the last hole of our current program which was drilled to test up-dip from the recently announced high grade interval of 17 metres at 6.62 grams per tonne gold in drill hole H8DD0041.

“Exploration at the Jamieson project is continuing, with field mapping and sampling programs aimed at investigating the potential to grow Hill 800 beyond the current limits of drilling, and other high-priority prospects such as Hill 700, Mt Sunday Road and Rhyolite Creek.

“Meanwhile we are gearing up to commence exploration at our Paterson project in Western Australia, we look forward to updating the market with details of this work as they become available.”

Carawine currently has exploration field work in progress at the Jamieson project, with field mapping and sampling programs designed to investigate the potential to grow Hill 800 beyond the current limits of drilling and evaluate other high-priority prospects such as Hill 700, Mt Sunday Road and Rhyolite Creek.

The company anticipates releasing results of these programs over the coming months.

 

Email: info@carawine.com.au

Website: www.carawine.com.au