Total
0
Shares
Carawine Resources (ASX:CWX) -
A field geologist in the Pilbara. Source: Carawine Resources
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Carawine Resources (CWX) intersects visible gold in the first diamond hole at the Hercules gold prospect, located within Tropicana North Project in WA
  • The gold and base metals explorer plans to drill 16 diamond holes at Hercules, with the first hole intersecting coarse, visible gold within a three-metre wide shear zone
  • With this positive result, the company could potentially add more drill holes to the current drilling program
  • Managing Director David Boyd says the visible gold is further evidence that Carawine has “a significant gold discovery on its hands”
  • Just before the market opens this morning, Carawine shares are sitting at 21 cents per share

Carawine Resources (CWX) has intersected visible gold in the first diamond hole at the Hercules gold prospect.

The gold and base metals explorer is planning to drill 16 diamond holes at Hercules, with the first hole intersecting coarse, visible gold within a three metre wide shear zone.

Hercules is a significant gold discovery in Carawine’s Thunderstruck Joint Venture, which forms part of the company’s Tropicana North Project, located in the northeastern goldfields of Western Australia.

With this positive result, the company could potentially add more drill holes to the current drilling program.

Managing Director David Boyd is pleased with the first glimpse of the Hercules prospect.

“Every exploration geologist loves seeing gold so coarse that it is visible to the naked eye,” he said. “Our first diamond hole into Hercules has returned gold in laminated veins in a shear zone in the right orientation– further evidence that we have a significant gold discovery on our hands.

“We are excited to see what else will come from the diamond drilling program. We have already added two more holes, with the ability to add more holes as our understanding of Hercules continues to improve.”

Just before the market opening this morning, Carawine was sitting at 21 cents per share.

CWX by the numbers
More From The Market Herald

" Anova Metals (ASX:AWV) begins drilling at Big Springs

Anova Metals (AWV) has begun the 2021 reverse circulation (RC) drilling program at its Big Springs gold project in Nevada.
Raiden Resources (ASX:RDN) - Managing Director, Dusko Ljubojevic

" Raiden Resources (ASX:RDN) completes tenement acquisition

Raiden Resources (RDN) has completed the acquisition of the nickel-copper-platinum group element (PGE) tenements adjacent to its Mt Sholl project.

" Alkane Resources (ASX:ALK) hits further gold at Molong

Alkane Resources (ALK) has received the latest batch of assay results from its Northern Molong Porphyry Project in New South Wales.
The Market Herald Video

" De Grey Mining (ASX:DEG) raises $125m for Mallina

De Grey Mining (DEG) has received firm commitments to raise $125 million for its Mallina Gold Project.