Carawine Resources Limited (ASX:CWX) has discovered new high-grade gold and copper zone at Hill 800 with an outstanding assay interval from the current diamond drilling programme within the Jamieson Project located in northeast Victoria.
The assay results are from the first diamond drill hole of the current programme, targeting the down-dip and along-strike extents of porphyry-related mineralisation at Hill 800, returning an outstanding interval of 11m @ 9.87g/t Au, 0.3% Cu and 14.6g/t Ag from 179m (0.3g/t Au cut-off); including: 4m @ 26.7g/t Au, 0.7% Cu and 38.7g/t Ag from 179m.
Managing Director David Boyd said this latest interval, exceeding 100 gram-metres gold, with high copper and unusually high silver grades, is from a new semi-massive sulphide lens about 50m to the west of the main mineralised zone at Hill 800. It is open down-dip and along strike into areas untested by drilling.
Mr Boyd said these latest results have expanded the mineral system at Hill 800, with a potentially significant new zone of very high-grade gold and copper mineralisation identified.
“This is just the first hole of our current programme exploring the depth extents of Hill 800, and we are yet to define the edges of the mineral system,” Mr Boyd said.
“We have established that the host rocks and mineralising fluids were likely sourced from a fertile copper-gold porphyry system, and that the more we drill the more we grow the potential size and grade of the deposit.
“It is therefore exciting to think what the rest of this programme will deliver in terms of grade and mineralisation styles, and we look forward to presenting those results as they are received.
We are also looking forward to drilling the first of several magnetic anomalies identified as potential porphyry targets, expected to commence within the next two weeks,” Mr Boyd said.
A second diamond drill hole targeting the main zone of mineralisation, 50m along strike from the discovery hole was recently completed to a depth of 446m.
Mr Boyd said samples from this hole have been submitted for assay with results expected within the next four weeks. A third drill hole is currently in progress.