- Carawine Resources (CWX) gets more results from its 33-hole drilling program at the Hercules prospect within the Tropicana North Project in Western Australia
- The company announces grades of up to 14.7 grams of gold per tonne (g/t) over 4.61 metres as well as “bonanza” grades of up to 104g/t gold over 0.5 metres
- One of the drill holes has also extended the strike length to the south which shows the system is open into an area that hasn’t been drill tested
- Carawine expects to receive results from another eight holes within the coming month
- Company shares are up 7.89 per cent to trade at 20.5 cents at 2:33 pm AEST
Carawine Resources (CWX) has received results from ongoing drilling at the Hercules prospect within its Tropicana North Project in Western Australia.
The Hercules prospect is part of Carawine’s joint venture with Thunderstruck Investments, through which Carawine owns a 90 per cent interest and Thunderstruck holds the remaining 10 per cent.
So far, 20 out of 33 planned drill holes have been completed as part of this program which is aimed at defining and extending gold mineralisation over more than 400 metres and beyond 200 metres down-dip.
Best results include 4.61 metres at 14.7 grams of gold per tonne (g/t) from 165.24 metres including 0.5 metres at 104g/t gold from 166.7 metres, 0.95 metres at 73.7g/t gold from 60.08 metres, and six metres at 4.29g/t gold from 117 metres including two metres at 12.4g/t gold.
Positively for CWX, three out of the four holes contain intervals exceeding 25 gram-metres and up to 70 gram-metres, which supports the prospect’s high-grade nature.
One of the holes also extended the strike length to the south which shows the system is open into an area that hasn’t previously been drill tested.
Managing Director David Boyd was pleased with the latest assays.
“This latest round of assay results from Hercules includes a number of ‘bonanza’ gold grades in an area of the deposit characterised by multiple, parallel lodes,” he said. “The results have also increased the width and strike length of this multiple lode zone, and all within 130 metres of surface.”
Carawine expects to receive results from another eight holes recently completed over several targets within the coming month.
Company shares are up 7.89 per cent to trade at 20.5 cents at 2:33 pm AEST.