Carawine Resources prepares to smash out drilling at Big Bang targets in WA

Base metals and gold explorer Carawine Resources (ASX:CWX) has begun drilling at the Big Bang nickel targets within its wholly owned Fraser Range Project in Western Australia. 

The $25.58 million market capitalisation company is testing the source of 3 conductors uncovered from moving-loop electromagnetic (MLEM) surveys. 

This will be done with 3 reverse circulation (RC) holes for 100m, followed by diamond drilling through the modelled target. About 490m of RC drilling and 460m of diamond core drilling is planned in total. 

Carawine is targeting magmatic nickel-copper sulphides that may have formed on the edge of magnetic anomaly complexes interpreted at potential mafic-ultramafic intrusive bodies through the drilling work.

The company’s share price increased by 7.692% to close at $0.14 on Thursday afternoon (3 August). 

Commenting on the drill program, Carawine Resources Managing Director David Boyd says: “It’s exciting to be drilling again in the Fraser Range. The 3 conductors targeted by this program are from our first MLEM survey at Big Bang, which covered just 3 of 7 areas identified as prospective for magmatic nickel and copper sulphides.

We look forward to the results of the drilling and expanding our exploration program across the tenement over the coming months”

We look forward to the results of the drilling and expanding our exploration program across the tenement over the coming months.”

Carawine notes that this drilling is co-funded by the Western Australian State Government under its Exploration Incentive Scheme (EIS), with 50% of the direct drilling costs of the program to be reimbursed to Carawine up to a maximum of $92,500.

Carawine Resources is an exploration company focused on gold, copper, and base metal deposits in Australia. The company has 5 projects located in ‘well-established’ mineral provinces. 

As of 30 June 2023, the company had $3.814 million cash and cash equivalents at hand, according to its latest quarterly report published on 28 July 2023.

Write to Aaliyah Rogan at Mining.com.au

Images: Carawine Resources Ltd
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.