Carawine Resources Limited (ASX:CWX) has returned further positive results from its drilling programme at Hill 800 in Victoria, identifying mineralisation at depth, with increased gold grades.
Hill 800 is an advanced gold-copper prospect within Carawine’s 100%-owned Jamieson Project, located in northeast Victoria.
Managing Director, David Boyd, said assay results from drill hole H8DD022, targeting the down-dip and southern strike extent of Hill 800 mineralisation returned an outstanding interval:
• 67m @ 2.94g/t Au, 0.1% Cu from 231m (cut to geological boundaries), including: o 48m @ 0.89 g/t Au, 0.1% Cu from 231m, and; 11m @ 13.9g/t Au, 0.2% Cu from 287m, including: 2m @ 74.8g/t Au, 0.4% Cu from 290m
Mr Boyd said this latest interval contains sulphide rich quartz vein sets, which define a very high-grade gold zone within Hill 800 with a down-dip extent of at least 150m when combined with similar high-grade intervals in surrounding drill holes.
Drill hole H8DD022 has extended mineralisation at Hill 800 by at least 80m down- dip, where it remains open at depth and along strike to the south.
A second hole, Drill hole H8DD023, designed to test the M14 magnetic anomaly porphyry target, intersected minor potassic alteration and elevated geochemical pathfinder elements consistent with the company’s copper- gold porphyry exploration model.
The company believes the results are encouraging because they support the potential for other magnetic targets in the region to be associated with porphyry-related mineralisation.
Mr Boyd said the exceptional gold and copper grades intersected in H8DD022 have improved the Hill 800 deposit both in terms of size and grade, further establishing the potential for Hill 800 to be a significant deposit.
“Hill 800 remains open to the south, and at depth, with these latest results establishing a zone of extremely high gold grades within a broad, lower grade gold-copper mineralised system.
We will now commence further technical studies including petrology, multi-element geochemistry and three-dimensional modelling to evaluate the next steps for Hill 800, which may include additional extensional drilling and/or deeper drilling to search for its interpreted porphyry source,” Mr Boyd said.
“Drill hole H8DD023 tested the first of several magnetic anomaly porphyry targets in the Hill 800 region, with the results giving us confidence that we are on the right track in our search for a copper-gold porphyry system at Jamieson.
“ The results from this hole and those from drill hole H8DD021, which also returned similar porphyry-related signatures, will be further examined and factored into our planning for the resumption of exploration activities at Jamieson later this year.”
Mr Boyd said the company will now focus on advancing exploration at its Paterson and Fraser Range projects in Western Australia, where its joint venture partners have indicated drilling and geophysical programmes are planned to commence later this quarter.
“Carawine will also advance its 100%-held tenements in the Fraser Range and Paterson provinces, with target generation activities already in progress,” Mr Boyd added.