Carawine Resources Limited (ASX:CWX) has received new outstanding assay results from the final holes of recent drill campaign at the Hercules prospect located in the north-eastern goldfields of Western Australia.
Highlights came from the last drill hole from the recent programme which returned the highest grades to date and intersected multiple lodes, further increasing the potential for Hercules to develop into a major new gold deposit.
Hercules is an advanced gold prospect within Carawine’s Thunderstruck Joint Venture, which forms part of the Company’s large Tropicana North Project.
Managing Director, David Boyd said the extremely high gold grades and multiple zones in this last hole had exceeded expectations, reinforcing the company’s belief that Hercules has the potential to develop into a major new gold deposit.
Our last set of results from Hercules were very exciting, so to have the last hole from our maiden drilling program at the prospect return the best results from the prospect to date is fantastic,” Mr Boyd said.
“We have also repeated the new multiple high-grade lode system announced last week, indicating the potential for this wider ‘blow-out’ zone to extend throughout the prospect.
“We are planning a follow-up drilling programme to test for extensions to the mineralisation, which remains open, with the potential to increase the strike length with depth.”
The Hercules programme was designed to test the tenor and orientation of historically reported gold mineralisation and explore for extensions along strike and at depth.
A preliminary interpretation of the mineralisation intersected shows multiple plunging zones which increase in strike length with depth, and higher gold grades defining a shallow south-westerly plunge.
Mr Boyd said the intervals reported from drill hole TNRC020 are consistent with the interpretation that the greatest continuity of gold grades at Hercules is more parallel to surface, along strike than vertically, down dip.
He said the two high-grade intersections in TNRC020, which combined return an interval of 18m @ 11.6g/t Au from 136m from two lodes (0.3g/t Au cut-off with a maximum of 6m internal dilution), are down-plunge from and appear to join the “blow-out” zone previously reported in hole TNRC008 of 37m @ 5.58g/t Au from 84m across three lodes.
The two drill holes are approximately 50m apart , with the lower interval in TNRC020 incomplete with five samples (154m to 159m) not received at the laboratory. The missing samples will be re-split from retained samples located at Hercules and submitted to the laboratory for analysis. Results from these five samples could further strengthen this link.
The style of gold mineralisation in drill hole TNRC020 is consistent with other holes in the program, being associated with sulphidic quartz veins and vein selvedges within strongly altered biotite-chlorite-sericite- feldspar granulite.
Further drilling and sampling will be designed to better understand the geometry, plunge and continuity of the stacked high-grade lodes which remain open along strike, at depth and down plunge.
