Carawine Resources Visible Gold

Carawine Resources hits visible gold from first hole at Hercules

Carawine Resources Limited (ASX: CWX) has announced that it has hit visible gold from its first diamond hole at the Hercules gold prospect within its Tropicana North Project in Western Australia. The company reports that hole TNDD001 intersected multiple shear zones, laminated quartz lodes, and sulphide-rich mineralised zones.

CWX had planned 10 reverse circulation holes along with 16 diamond holes, as part of the follow-up phase of drilling to target depth at Hercules. To date, nine reverse circulation holes and one diamond hole have been completed.

Tropicana North project

The 1,800km² Tropicana North Project, located in the north-eastern goldfields of Western Australia, covers 80km strike of the Tropicana Belt and comprises two granted exploration licences, Neale and Don King.

The project sits within the Thunderstruck JV, a joint venture between Carawine (90% interest) and Thunderstruck Investments Pty Ltd (10% interest); along with 11 exploration licence applications held 100% by Carawine.

Tropicana North contains strike extensions of the same and similar rock units and structures to those hosting the large Tropicana Gold Project (operated by AngloGold Ashanti Australia Ltd) and Regis Resources Ltd.

Every exploration geologist loves seeing gold so coarse that it is visible to the naked eye”

Management comments

Carawine Managing Director David Boyd said: “Every exploration geologist loves seeing gold so coarse that it is visible to the naked eye. 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.

The initial RC component of the Hercules program is almost complete, with that rig then heading to test a number of regional targets, so we are looking forward to providing a steady flow of news from these programs as they continue.”

Images: Carawine Resources Limited
Written By Tristan Lal
Originally from Canada, Tris trained as a journalist but early in her career moved into marketing and advertising. Tris now spends her days managing the systems and processes while overseeing all company operations.