Drilling hits ‘outstanding interval’ at Carawine’s Hill 800 gold prospect

Minerals explorer Carawine Resources (ASX: CWX) has announced positive assay results including an “outstanding interval” from a Phase 1 drilling campaign at its 100%-owned Hill 800 gold prospect in north-eastern Victoria.

The interval was reported in hole H8DD009 at the 740 Zone of outcropping mineralisation, within the greater Jamieson gold-copper-silver-zinc project in the central Victorian goldfields.

The hole’s best recorded results were 50.1 metres at 3.08 grams per tonne gold from 16.9m (0.3g/t gold cut-off), including 3.2m at 4.97g/t gold from 19m, 6.2m at 2.57g/t gold from 26m, 5m at 1.84g/t gold from 36m, and 22.7m at 4.82g/t gold from 44.3m (1g/t gold cut-off).

H8DD009 has a gold accumulation of 154 grams x metres and is 50m from a record interval reported last month of 92.7m at 3.22g/t gold including 31m at 6.64g/t gold in drill hole H8DD006 (299 grams x metres).

It is the fourth +100 gram x metre interval returned to date from the Hill 800 campaign.

Carawine managing director David Boyd said the result demonstrates the “excellent grade continuity” of the 740 Zone and extends the interpreted width and strike length at its northeastern extent.

“The potential size and orientation of the mineralised system at Hill 800 is becoming increasingly apparent in the wake of these exceptional results,” he said.

“To intersect such broad high-grade mineralised zones at or near surface in a stacked geometry is compelling and supports our strong belief in Hill 800.”

Prospective location

The Jamieson project is located on unrestricted crown land within a geological province known as the Mt Useful Slate Belt.

The region was founded on gold mining in the 1850s and hosts a number of historic and current gold mines, including the A1 mine operated by Centennial Mining (ASX: CTL), and the Morning Star mine owned by Austar Gold (ASX: AUL).

Covering a “window” of Cambrian-aged volcanic rocks with similar characteristics to the Mt Read Volcanics in western Tasmania, Jamieson project activities are currently focused on Hill 800, discovered in 1994 by now-delisted New Holland Mining.

The project also includes the advanced Rhyolite Creek prospect, located 5 kilometres to the south of Hill 800 and discovered by previous explorer Goldsearch.

Carawine’s current campaign builds on historic exploration and is the first time drilling has been undertaken at Hill 800 since 1999.

Carawine is utilising diamond drill rigs typical of those used for exploration and resource development in underground mines.

Drill holes have been designed to intersect the mineralised zones from near-surface to approximately 150m below surface, with a number of step-out holes to test for extensions of the mineralisation beyond 200m depth.

By early afternoon, shares in Carawine Resources were down almost 2% to $0.255.