Carawine Resources (ASX:CWX) has confirmed that drilling is underway at its West Paterson JV, located in the highly prospective Paterson Province of Western Australia.
The “West Paterson JV” is a farm-in and joint venture agreement between Carawine and Rio Tinto Exploration Pty Ltd, a wholly owned subsidiary of Rio Tinto Limited, whereby RTX has the right to earn up to an 80% interest in the Baton and Red Dog tenements by spending $5.5 million in six years from October 2019 to earn 70% interest and then sole funding to a prescribed milestone. RTX is managing and operating the exploration activities whilst it is farming-in.
This is the second drilling programme by Rio Tinto on the West Paterson JV tenements, and the first to include a number of priority targets at Baton. We’re pleased to see drilling commence and look forward to updating the market with results of the programme as they become available,” Carawine Managing Director, David Boyd, said.
The RC drilling programme is designed to test several targets on the Baton and Red Dog tenements, located within 100km of the Nifty copper deposit and Rio Tinto’s Winu copper discovery in the Central Paterson region, including:
BEM001 –a short-strike length, discrete conductive AEM anomaly associated with a gravity high interpreted to be mapping prospective dolomitic stratigraphy;
Wheeler – coincident and offset magnetic and gravity high anomalies located at the interpreted contact of Broadhurst and Isdell Formations;
Herb – a complex magnetic anomaly about three km long, with an order of magnitude higher magnetic strength compared with surrounding rocks;
Buzzer – conceptual structurally-hosted mineralisation target, identified by RTX from geophysical and geochemical datasets;
Clouser and Marquess – discrete, resistive AEM anomalies within Broadhurst Formation shale, interpreted as potential analogues to the Nifty copper deposit (located within the Flying Tiger and Leatherneck prospect areas respectively), and;
WB (Earl) – target within a broad, resistive AEM anomaly on the edge of a large interpreted felsic intrusion within the Malu and Puntapunta Formations (host to the Telfer gold-copper deposit).
