- Carawine Resources (CWX) begins reverse circulation (RC) drilling at the West Paterson joint venture (JV) Red Dog tenement in Western Australia
- This drilling program will test the Ghost and Zulu prospects which were generated by Rio Tinto via interpretation of geological and geophysical data
- Around eight holes have been planned with drilling expected to take roughly four weeks to complete
- Carawine has also announced the completion of a helicopter-borne survey over the Baton tenements with first results expected in November
- Shares in Carawine are steady on the market and are trading at 19.5 cents at 2:37 pm AEST
Carawine Resources (CWX) has begun reverse circulation (RC) drilling at the West Paterson joint venture (JV) Red Dog tenement in Western Australia.
The West Paterson JV is subject to a farm-in and joint venture agreement with Rio Tinto Exploration, a wholly owned subsidiary of Rio Tinto (RIO).
Under the JV agreement, Rio Tinto Exploration has the right to earn up to an 80 per cent interest in Carawine’s Red Dog and Baton tenements.
This RC drilling program will test the Ghost and Zulu prospects which were generated by Rio via interpretation of geological and geophysical data.
Around eight RC holes, for 2000 metres, have been planned with drilling expected to take roughly four weeks to complete.
Results will be used to refine and prioritise future exploration programs, with encouraging geology and alteration zones to be followed up.
Managing Director David Boyd commented on the start of the drilling program.
“Rio Tinto has identified, developed and advanced several compelling targets within our Red Dog tenement, so it is exciting to see the first two of these being drill tested,” Mr Boyd commented.
“We are pleased to be making some material progress in the Paterson Province and are looking forward to updating the market with results of both programs as they become available.”
Carawine has also announced the completion of a helicopter-borne XCITE electromagnetic survey over the Baton tenements with preliminary results expected in November.
Shares in Carawine were steady on the market and were trading at 19.5 cents at 2:37 pm AEST.