Carawine Resources Limited (ASX:CWX) has announced exceptional geophysical results from a detailed helicopter-borne magnetic and radiometric (heli-mag) geophysical survey at its 100%-owned Jamieson Project in northeast Victoria.
Managing Director David Boyd said the geophysical survey was an outstanding success, supporting the potential for porphyry targets beneath the company’s Hill 800 and Rhyolite Creek prospects, confirming existing targets and providing a number of exciting new anomalies.
Since establishing a link between mineralisation at Hill 800 and the potential for large gold and copper porphyry mineral systems at the Jamieson Project we have been working to identify and refine targets for drill testing,” Mr Boyd said.
“Magnetic anomalies are commonly associated with mineralised porphyry systems and therefore provide excellent drill targets. The results from this detailed survey will be used to model the size and depth of each anomaly, which can then be prioritised for drill testing.”
“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.”
The results are from a detailed heli-mag survey flown over the Cambrian-aged volcanic rocks within Carawine’s Jamieson Project tenements. The survey was conducted on 50m-spaced flight lines oriented east–west at 50m above ground, providing detailed magnetic and radiometric geophysical data across the project. Data quality control and processing was completed by the company’s geophysical consultants Southern Geoscience Consultants (SGC).
Mr Boyd said the next stage in advancing the targets identified from the heli-mag survey is to complete 3D of each magnetic anomaly to determine their accurate location, size and depth. The results of the 3D modelling will then be used to design drill holes to test each anomaly and prioritise targets in order of drilling.
The company is currently drilling at the Hill 800 prospect, targeting down-dip extensions of gold and copper mineralisation with first assay results expected early in Q1 2020.
Drilling of targets defined from modelling of the heli-mag survey data is planned to follow completion of the initial drill holes at Hill 800, expected to be early to mid-Q1 2020.