- Gold and base metals explorer Carawine Resources (CWX) has identified new targets at its fully owned Jamieson mine in Victoria
- The porphyry copper gold targets were identified beneath the Hill 800 and Rhyolite Creek prospects in a geophysical survey conducted by helicopter
- Next, a 3D modelling of each magnetic anomaly will be complete which will be used to design drill holes
- Shares in Carawine are trading 17.1 per cent higher and are currently worth 24 cents each
Gold and base metals explorer Carawine Resources (CWX) has identified new targets at its fully owned Jamieson mine in Victoria.
The heli-mag survey identified porphyry copper gold targets beneath the Hill 800 and Rhyolite Creek prospects in addition to confirming existing targets.
The magnetic and radiometric geophysical survey was completed by flying a helicopter in a 50 metre spaced flight line.
Southern Geoscience Consultants, who conducted the heli-mag survey, are now completing a 3D modelling of each magnetic anomaly identified.
Carawine Managing Director, David Boyd, said the 3D modelling will be used to design drilling holes as well as prioritise drilling programs.
“Magnetic anomalies are commonly associated with mineralised porphyry systems and therefore provide excellent drill targets,” he said.
“Of particular interest is a magnetic high anomaly potentially down-dip from Hill 800, where we are currently drilling. This anomaly is characteristic of the typical geophysical response from a mineralised porphyry copper-gold stock and is therefore high on the priority list for modelling and drilling,” he continued.
The Jamieson project is located within the Mt Useful Slate Belt region which is known for its gold mining. It also has areas of Cambrian-aged volcanic rocks.
The Hill 800 prospect is one such volcanic-hosted massive sulphide gold-copper system. The Rhyolite Creek prospect is located only five kilometres away from Hill 800.
Shares in Carawine are trading 17.1 per cent higher, worth 24 cents each at 2:39pm AEDT.