Carawine Resources Limited (ASX:CWX) has obtained the latest results from Hill 800 within its Jamieson Zinc-Gold-Silver Project in northeast Victoria, supporting a new interpretation that shows a wider mineralised gold zone.
This interpretation links the 740, 650 and Stringer Zones into a single mineralised zone with a moderate dip towards the northwest.
Hill 800, which was originally discovered by New Holland Mining NL in 1994 and is a volcanic-hosted massive sulphide (VHMS) gold-copper system with similar host rock, age and mineralisation style to the 1.5 million-ounce Henty gold deposit in western Tasmania.
Carawine Resources managing director David Boyd said the results from this latest hole were the missing link in modelling the Hill 800 mineralisation, with potential to now extend the deposit at depth.
Boyd said: “This latest drill hole establishes a single continuous, wide and high-grade mineralised zone which extends from surface to at least 150 metres below surface, with evidence that mineralisation continues a further 200 metres down dip and remains open.
“This provides an excellent opportunity for future drilling to add to the already significant mineralised body at Hill 800.
“The next drilling program targeting the down plunge extents of the newly defined main zone is expected to commence later this year following our current exploration program at the Paterson project in Western Australia.”
Targets generated to be “ranked for future drill testing”
Boyd added: “Our exploration team has recently been in the field at Jamieson following up surface gold anomalism in the areas immediately around Hill 800 to generate additional near-surface targets.
“Targets generated from this work will be ranked for future drill testing with existing prospects at Rhyolite Creek, Hill 700 and Mt Sunday Road.
“We can also provide an update for our Paterson project where we recently announced a major geophysical program at our Baton and Red Dog tenements.
“The aeromagnetic survey at Baton is in progress and is about 60% complete.
VTEM max electro magnetic survey at Red Dog brought forward
“Commencement of the helicopter borne VTEM max electromagnetic survey at Red Dog has been brought forward to start early in June.
“Results form these programs are expected to be available from June onwards.”
Hill 800 long section looking west with selected intervals labelled
The assay results are from the last hole drilled in the current program targeting up-dip extents of the previously drilled ‘650 zone’ and ‘Stringer Zone’ mineralisation.
The best intersection recorded 101 metres at 1.44 g/t gold from 21 metres, including 12 metres at 4.32 g/t from 83 metres.
The new interpretation has resulted in a considerable increase in the potential for extensions of the system down dip.