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- Carawine Resources (CWX) has received assay results from eight reverse circulation (RC) holes drilled at the Atlantis prospect at its Tropicana North Project in WA
- Atlantis is situated within Carawine’s Thunderstruck joint venture, in which it holds a 90 per cent interest
- The first-pass drilling program targeted areas beyond the central high-grade zone defined by previous explorers
- Assay results returned lower grade but significant intervals including six metres at 0.99 grams per tonne of gold from 80 metres at TNRC013
- Another hole, TNRC017, returned an intercept of two metres at 2.48 grams per tonne of gold from 88 metres
- The results establish the potential for additional zones of gold mineralisation, away from the high-grade central zone on the main lode trend
- High gold grades from historic drilling appear restricted to the central zone, with further drilling planned to understand the orientation and controls on the mineralisation
- Assay results from regional aircore drilling at Tropicana North are expected in the coming weeks
- Carawine Resources shares are in the grey, last trading at 33 cents each
Gold and base metals explorer Carawine Resources (CWX) has received assay results from eight reverse circulation (RC) holes drilled at the Atlantis gold prospect at its Tropicana North Project in Western Australia.
Atlantis is located within Carawine’s Thunderstruck joint venture, in which it holds a 90 per cent interest.
Drill holes TRNC011 to TRNCO18 were completed in January 2021 as part of a maiden aircore (AC) and RC drilling campaign at Atlantis, designed to test the geological model, mineralisation orientation and tenor of historically reported gold mineralisation along around 500 metres of strike.
The assays returned lower grade but significant intersections, including six metres at 0.99 grams per tonne of gold from 80 metres (main lode), including five metres at 1.05 grams per tonne of gold from 81 metres, recorded at TNRC013.
Another hole, TNRC017, returned two metres at 2.48 grams per tonne of gold from 88 metres (new lode trend), including one metre at 4.52 grams per tonne of gold from 89 metres.
The results indicate the potential for mineralisation to extend beyond the prospect’s high-grade central zone defined by previous explorers.
Carawine Resources Managing Director David Boyd, however, said further work is required to understand the controls on high-grade gold mineralisation at Atlantis.
“Previous explorers intersected bonanza gold grades, including 15 metres at 21 grams per tonne of gold from just 50 metres below surface,” David said.
“Our step-out drilling was unable to repeat these high grades beyond this central zone, although we were successful in expanding the mineralised footprint at lower grades.”
Future drilling by Carawine at Atlantis will be designed to improve the explorer’s understanding of the orientation and controls on the bonanza gold grades in the central zone and follow-up lower grade intervals returned from the program.
“In the meantime, we are rapidly advancing preparations for RC and diamond drilling programs to follow up the outstanding high-grade gold intervals recently reported from our Hercules prospect, and look forward to updating the market as these are progressed,” Carawine’s Managing Director David Boyd added.
Carawine Resources shares are in the grey on Wednesday, last trading at 33 cents each at 10:07 am AEDT.
