Carawine Resources Limited (ASX:CWX) has received promising new assay results from recent RC drilling at its Neale tenement.
Managing Director, David Boyd, said the results have identified two advanced gold targets for follow-up RC and diamond drilling, including one new discovery, at the Big Freeze and Beanie prospects.
An interpretation of recently acquired aeromagnetic data has also highlighted 12 new target regions, with similar structures and magnetic units to those associated with the Hercules and Atlantis prospects.
These regions are either poorly tested, or not tested at all by drilling, and will provide a focus for further regional exploration, including air core (AC) drilling and/or ground geophysical surveys.
The Neale tenement is within Carawine’s Thunderstruck Joint Venture, part of the company’s large Tropicana North Project located in the north-eastern goldfields of Western Australia.
Carawine is currently drilling out the high-grade Hercules gold prospect, also within the Neale tenement.
At Big Freeze, 8km southwest of Hercules, intervals reported from TNRC039 and previous drill holes define a greater than 700m-long, continuous zone of gold mineralisation above 1g/t Au in wide-spaced drilling.
This target zone is part of the Big Freeze prospect area, defined by a 900m x 200m +0.3g/t Au drill hole anomaly within a much larger +10ppb Au anomaly along the Hercules Shear Zone.
The new “Beanie” prospect is located 1.5km to the northeast of Hercules, with TNRC037 intersecting 1m @ 2.42g/t Au from 172m, 75m below a historic intercept of 3m @ 1.48g/t Au from 90m (NLC153).
These intervals are open down-dip and along strike, with little or no drilling along strike.
These latest results are considered highly significant in both a local and regional context. Locally, Carawine’s drilling at Hercules shows +1g/t Au intervals to be a reliable indicator of potential high-grade gold mineralisation, especially those associated with quartz-sulphide veining.
Regionally, the large Tropicana gold mine, 60km to the southwest, was discovered by following up +1g/t Au drill intervals within a +3ppb Au geochemical anomaly.
“The potential of our Tropicana North project continues to grow. Today’s results, from the first four holes of an eight-hole program, enable us to target a well-defined 700m-long gold trend within a much larger gold footprint at Big Freeze,” Mr Boyd said.
“The discovery of a new prospect at Beanie provides us with another compelling drill target, just 1.5km from our Hercules prospect.
“We look forward to receiving the remaining results from this RC drilling program, and planning follow-up drilling at Big Freeze and Beanie, which we expect to follow on from the current Hercules program.
“In addition to the assay results reported today, the Company has identified twelve new target regions from an initial interpretation of the recently completed aeromagnetic survey over the Neale tenement. These add significantly to our list of exploration targets for Tropicana North and support our strategy of establishing a major new gold camp in the region, with Hercules, Atlantis, Big Freeze and Beanie just the first of many targets to explore.”
For further information please visit: http://www.carawine.com.au/site/content/