- Carawine Resources (CWX) receives further results from the Hercules prospect at its Tropicana North project in Western Australia
- This drilling program is focused on defining the geology, structure and grade characteristics of the gold mineralisation and extending it along strike and at depth
- Results come from three holes which saw grades peak at 10.7 grams of gold per tonne
- Drilling will restart early in January when the crew return from the Christmas-New Year break with CWX planning to re-enter two holes that were incomplete and extend at depth
- Shares in Carawine are steady on the market and are trading at 17.5 cents
Carawine Resources (CWX) has received further results from the Hercules prospect at its Tropicana North project in Western Australia.
This drilling program is focused on defining the geology, structure and grade characteristics of the gold mineralisation and extending it along strike and at depth.
Results come from holes TNDD006, TNDD008 and TNDD009 which targeted mineralisation down-plunge to roughly 250 metres below surface.
Best results include 1.05 metres at 10.7 grams of gold per tonne (g/t) from 252.85 metres and six metres at 3.01g/t gold from 251 metres including five metres at 3.46g/t gold from 252 metres.
The results intersected extend the mineralisation down-plunge to the northeast to around a depth of 250 metres.
Assays are pending for holes TNDD010, TNDD011 and TNDD013, all of which intersected potentially mineralised quartz-sulphide veins.
Drilling will restart in January when the drill crew return from the Christmas-New Year break with Carawine planning to re-enter two holes that were incomplete and extend them at depth.
Planning is also underway for follow-up reverse circulation (RC) drilling at the Big Freeze and Beanies prospects with drilling expected to begin in late January or early February.
Managing Director David Boyd commented on the drilling program.
“As drilling at Hercules continues, so does the return of significant, high-grade assay results. Our goal now is to test the extent of mineralisation and establish the grade distribution characteristics of the deposit,” Mr Boyd commented.
“With our recently completed capital raising we are well placed to achieve this in the New Year, in parallel with an extensive regional exploration program targeting additional large deposits in this highly prospective belt.”
Shares in Carawine were steady on the market and were trading at 17.5 cents at 2:45 pm AEDT.