The Company’s Paterson Project is located in the Paterson Province of Western Australia, a region which is host to a number of world-class gold and copper deposits, including Newcrest's Telfer gold and copper Mine and Metals X's Nifty copper Mine. The region has seen a marked increase in exploration activity recently, following two major new finds within 12 months: Winu, a potentially large sediment-hosted copper deposit discovered by Rio Tinto (ASX:RIO); and Havieron, an intrusion-related gold and copper deposit discovered by AIM-listed Greatland Gold PLC (AIM:GGP).
Carawine’s Paterson tenements are known to contain host formations and structures common to the major mineral deposits in the area. The tenements were applied for prior to the significant increase in exploration and tenement activity witnessed in the region in recent times, and were selected on the basis of proximity to known mineralisation, shallow depth to basement, hosting prospective stratigraphy and geophysical anomalies. The Company's tenement holding is one of the few remaining, and largest, 100%-owned tenement packages in the region.
Carawine’s Paterson tenements
Five project areas are identified within the broader Paterson Project, these are Baton, Red Dog, Trotman South, Sunday and Lamil Hills.
Baton is located about 100km north of the Nifty copper deposit, and contains copper, lead and zinc mineralisation hosted by dolomitic breccia in a sequence of dolomite, carbonaceous siltstone and carbonaceous shale of the Broadhurst Formation (host to the Nifty deposit). Brecciation is associated with a major NNW-trending, ENE-dipping fault that separates carbonaceous siltstone units to the west from crystalline carbonate units to the east. The style of mineralisation and stratigraphic setting of Baton is similar to that of the Warrabarty zinc deposit and the Millenium prospect. Two early-stage but compelling bullseye magnetic anomalies have also been identified at Baton, identical to those observed at the recent Winu and Havieron discoveries.
Red Dog is located approximately 16km northeast of the Nifty copper mine in moderately deformed, low grade metasedimentary rocks along the NW margin of the Yeneena Basin. The tenement is considered prospective for stratiform Cu-Co deposits e.g. Nifty and Maroochydore, sediment-hosted Pb-Zn deposits e.g. Warrabarty within the upper Broadhurst and Isdell Formations and intrusion-related gold and copper mineralisation (e.g. Havieron, Telfer).
Trotman South and Sunday are located 27km south of the Telfer gold mine and immediately west of the Maroochydore Cu-Co deposit. Trotman South has many of the structural elements normally associated with gold deposits in the Telfer region, i.e. domes/anticlines and WNW to NW-striking faults. Interpreted demagnetised zones in otherwise strongly magnetic layers in gabbro-monzonite sills, could represent discrete alteration halos to gold mineralisation, with anomalous bedrock intersections in Rotary Air Blast (“RAB”) drilling occurring adjacent to one such zone. Base metal (Zn, Co) anomalism in historic drilling also occurs within the tenement, associated with a variety of dolomitic sediments and intrusive bodies, indicating the potential for both sediment-hosted and intrusion related (skarn) styles of gold and base metal mineralisation. Sunday contains mapped occurrences of the Broadhurst Formation, host to the Nifty copper and Maroochydore copper-cobalt deposits.
Lamil Hills, approximately 25km northwest of the Telfer gold mine, is considered prospective for intrusion-related, Telfer-style gold and copper mineralisation with similar host stratigraphy and the presence of domal structures on the tenement, and identified gold-copper mineralisation on adjacent tenure. Anomalous gold lag samples in outcrop on Carawine’s tenement have been reported by previous explorers.
Paterson Project tenements and prospects over an image of regional magnetic intesnity
To date six priority target areas have been identified at the Red Dog and Baton projects from a combination of historic drill and geological data, re-processing of airborne magnetic and electromagnetic (EM) geophysical data. Significantly, each prospect contains many elements common to the major deposits and recent discoveries in the Paterson region, including host rock, magnetic anomalies, EM conductive anomalies, intrusion-related (skarn-style) mineralisation and alteration as follows.
Javelin and Wheeler bullseye magnetic highs on the Baton Project (RTP magnetic image)
Red Dog Project
Red Dog prospects on 150m-200m conductivity depth image modeled from Tempest (airborne) electromagnetic data
Further details of these and other Baton and Red Dog prospects are available from the Company's ASX announcement dated 19 February 2019, available here.
Target generation activities are continuing for Carawine’s Paterson Project tenements.