- Carawine Resources (CWX) extends the parallel gold zone within its Tropicana North gold project in Western Australia
- The company received the final assay results from its recently completed diamond drilling program at the Hercules prospect
- The latest phase of drilling aimed to define the geology, structure, and grade characteristics of gold mineralisation at Hercules
- With all assay results received, the mineral resource estimate for Hercules has been planned for the third quarter of 2022
- Carawine Resources last traded at 9.6 cents on July 19
Carawine Resources (CWX) has extended the parallel gold zone within its Tropicana North gold project in Western Australia.
The company received the final assay results from its recently completed diamond drilling program at the Hercules prospect.
Hercules is an advanced gold prospect held in a joint venture, in which it holds a 90 per cent interest with Thunderstruck Investments.
The latest phase of drilling aimed to define the geology, structure, and grade characteristics of gold mineralisation at Hercules, and test its extents along strike and at depth.
21 diamond holes were drilled for 6329.9 metres and extended a mineralised zone parallel south of the main mineralised zone, opening an additional target for future exploration.
Results from the drilling included 1.12 metres at 5.42 grams of gold per tonne (g/t) from 163.57 metres, including 0.55 metres at 10.7 g/t gold from 164.14 metres.
Carawine Managing Director David Boyd said the latest results provide another target to follow-up with additional drilling.
“The results are consistent with the recently completed structural interpretation and recognition of the vein offset shear zone,” David Boyd said.
“We will now commence a mineral resource estimate for Hercules, ahead of further drilling programs.”
With all assay results received, the mineral resource estimate for Hercules has been planned for the third quarter of 2022.
Carawine Resources last traded at 9.6 cents on July 19.