Carawine Resources Limited announced the completion of an air core ("AC") drilling program targeting historic drill hole gold anomalism at the Blue Bell South and Python tenements, part of the Company's Tropicana North Gold Project located in the north-eastern goldfields of Western Australia. Blue Bell South (E38/3521): The Blue Bell South tenement is located on the southern extent of the Yamarna greenstone belt, about 90km south of the Gruyere gold mine. Archean-aged bedrock units within the tenement comprise north to north-northwest striking domains of granitoid, syenite, monzogranites, high-biotite monzogranite, sediments and mafic to felsic volcanic and volcanoclastic rocks. Much of this is covered by 2m to 40m thick Permian cover units. The Yamarna Shear Zone runs through, and near the western edge of the tenement just north of where it joins the Dexter Shear Zone. A number of historic gold prospects are within and nearby the tenement, including Tallows, Three Bears, and Bluebell. Drilling was completed at the Tallows North and Liberty target areas, identified from historic exploration data. "Tallows North" centres on the Yamarna Shear Zone in the west of the tenement and comprises a large 5km x 0.5km to 3km 7ppb to 130ppb Au auger soil anomaly discovered by Breaker Resources NL ("Breaker") in 2012, with wide-spaced AC drilling by Breaker defining the "Tallows" prospect which trends onto the Blue Bell South tenement from the south. Within the tenement, seven drill holes returned narrow intervals >0.1g/t, with the best interval of 1m @ 0.72g/t Au from 54m in drill hole BAC0310. All but one of these anomalous intervals are associated with an interpreted redox boundary within transported cover. One interval of 1m @ 0.20g/t Au from 67m in drill hole BAC0393 is associated with lower saprolite bedrock above a biotite-rich syenite. Four lines of AC comprising 60 holes were drilled for a total of 3,682m at Tallows North, targeting this trend and a bedrock source to the shallow gold anomalism. The "Liberty" target area comprises the southern strike extension of a fault-bounded section of mafic volcanic, sediment and felsic volcanic and volcaniclastic rocks of the Yamarna Terrane which extend south from the historic Bluebell gold prospects. Previous drilling along this trend is wide spaced and limited to sampling the base of transported over, and therefore is largely untested. One line of AC comprising four holes was drilled for a total of 471m, targeting the Liberty trend to the southeast. The drilling here was reduced in scope from the initially planned program due to the deep (>120m) cover encountered. Python (E39/2180): The Python tenement is located 30km south of the Tropicana gold mine, and contains the southern extents of the Tropicana Gneiss, Biranup Zone syenite and granitoids, Salt Creek Group intrusives, and metamorphosed granites, mafic and sedimentary units of the Northern Foreland and Arid Basin units.
The Thorny Devil Shear zone, which runs immediately east of the Tropicana gold mine, extends south onto the tenement. Much of the tenement has been drilled by previous explorers as regional, 1km-spaced AC holes. Carawine identified two gold targets and one magmatic nickel-copper target at three areas of interest of which two were the focus of follow up AC drilling in this program. Python Area 1, in the southeast of the tenement, comprises a 2.5km x 1.5km area of gold anomalism with maximum drill hole values ranging from 10ppb to 612ppb (0.61ppm) Au. Two significant intervals
are reported from historic drilling, as follows: 4m @ 0.61g/t Au from 42m (18AFAC10887) and 1m @ 0.36g/t Au from 32m (SCAC0092). Field investigations indicate that much of the gold anomalism sits at or near the base of transported cover. This could relate to either geochemical dispersion from a bedrock gold source, or palaeochannel/placer gold mineralisation. Importantly, geological logs associated with the intervals in drill holes 18AFAC10887 and SCAC0092 indicate a primary, bedrock gold source. The nearest drillholes to 18AFAC10887 are more than 200m away, with no drilling along strike to the northeast. One line of AC comprising seven holes was drilled for a total of 341m at Area 1, targeting the northern
extent of this gold anomaly. Python Area 2 is in the north of the tenement, and comprises a single gold anomalous end-of-hole assay result from historic AC hole TTA109 drilled by Independence Gold NL in 2006 of: 1m @ 0.50g/t Au from 59m (to end of hole) (TTA109). TTA109 is located on the northern line of a 1.6km long +10ppb Au gold trend identified from historic drilling. Three lines of AC comprising 32 holes were drilled for a total 2,003m at Area 2, targeting the anomalous gold trend and aiming to identify any significant bedrock mineralisation associated with the +10ppb Au
anomaly. Carawine's Tropicana North Gold Project covers 80km strike of the Tropicana Belt, containing strike extensions of the same and similar rock units and structures to those hosting the large Tropicana gold mine (operated by AngloGold Ashanti Australia Ltd. ("AGA") & Regis Resources Ltd).
The Project comprises 13 granted exploration licences and two exploration licence applications, which combined cover an area of more than 2,400km2, making Carawine the second-largest tenement holder in the region behind AGA. Two of the tenements (Neale and Don King) are managed by Carawine in the Thunderstruck JV, a joint venture between Carawine (90% interest) and Thunderstruck Investments Pty Ltd. (10% interest). The remaining eleven exploration licence applications are held 100% by Carawine.