- Carawine Resources (CWX) has discovered nine nickel and gold targets at its Big Bang tenement in the Fraser Range region of Western Australia
- Big Bang lies within the highly prospective Central Fraser Zone which borders recent gold and nickel-copper discoveries by fellow ASX listers: IGO, Galileo Mining and Legend Mining
- Following these discoveries, Carawine aims to increase its tenement holding in the region with an application for the ‘Shackleton’ exploration licence
- Shackleton is located just 10 kilometres east of Legend Mining’s Mawson nickel-copper discovery
- The gold and base metals explorer plans to conduct aircore drilling and ground geophysical survey to better understand and develop these prospects
- Carawine’s shares are trading 4.55 per cent higher for 23 cents
Carawine Resources (CWX) has outlined several new nickel and gold targets at its Big Bang tenement in the Fraser Range region of Western Australia.
Big Bang lies within the highly prospective Central Fraser Zone which borders recent gold and nickel-copper discoveries by fellow ASX listers: IGO (IGO), Galileo Mining (GAL) and Legend Mining (LEG).
Carawine identified nine new prospects with potential for nickel-copper, and gold and iron oxide copper gold (IOCG).
To better understand and develop these prospects, the gold and base metals explorer will initially conduct aircore drilling and ground geophysical surveys.
“Just over the tenement boundary Galileo is reporting the presence of magmatic nickel-copper sulphides in mafic-ultramafic intrusive complexes,” Managing Director David Boyd said.
“Our work has identified the potential for a number of similar intrusive complexes to occur within the Big Bang tenement, supported by analogous magnetic anomalies, and geochemical data,” he added.
Due to these findings, Carawine has been inspired to increase its tenement holding in the region by applying for the ‘Shackleton’ exploration licence. This exploration licence is located just 10 kilometres east of Legend Mining’s Mawson nickel-copper discovery.
The company will conduct upcoming exploration at Big Bang at the same time as other exploration work over its Fraser Range and Tropicana North projects.
Carawine’s shares are trading 4.55 per cent higher for 23 cents at 11:48 am AEST.