Join our daily newsletter At The Bell to receive exclusive market insights
- Carawine Resources (CWX) has returned record high-grade results from reverse circulation drilling at its Hercules prospect at the Tropicana North Project in WA
- Multiple record high-grade intersection results were returned with mineralisation open along strike and at depth, confirming Hercules as a significant gold discovery
- A combined interval was recovered of 37 metres at 5.58g/t gold from 84 metres across three lodes
- Mineralisation remains open at depth and along strike to the northeast and southwest
- Carawine is now looking to secure drill rigs and commence follow-up drilling
- Company shares are trading flat at 21.5 cents
Gold and base metals explorer, Carawine Resources (CWX) has returned record high-grade results from reverse circulation drilling at its Hercules prospect.
The prospect, which is part of Carawine’s large Tropicana North Project, returned multiple record high-grade intersections with mineralisation open along strike and at depth, confirming Hercules as a significant gold discovery.
Hercules is an advanced gold prospect within Carawine’s Thunderstruck joint venture, which forms part of the company’s large Tropicana North project, located in the northeastern goldfields of WA.
The results reported today are from the first eleven of twelve reverse circulation holes drilled at the Hercules prospect during the company’s maiden air core and RC drilling campaign, completed at the beginning of the year.
A combined interval of 37 metres at 5.58g/t gold from 84metres was recovered across three lodes.
Additional high-grade gold intersections extend mineralisation along strike and depth include three metres at 15.2g/t gold from 125 metres, including two metres at 22.4g/t gold from 125 meters.
Mineralisation remains open at depth and along strike to the northeast and southwest.
Additional results from the campaign are expected to be reported over the coming weeks.
“These exceptional first results from our maiden drilling program at Tropicana North are highly significant,” said Carfawine Managing Director, David Boyd.
“Multiple high-grade intersections have been returned which extend the existing mineralisation with improved grade continuity between drill holes, as well as uncovering additional parallel high-grade lodes. This gives us high confidence that Hercules could develop into a major new gold deposit.”
Carawine is now looking to secure drill rigs and commence follow-up drilling.
Company shares are trading flat at 21.5 cents at 10:16 am AEDT.
