The Fraser Range Nickel Project comprises granted exploration licences, one of which is subject to the Fraser Range Joint Venture ("FRJV"), and exploration licence applications located in the Fraser Range region of Western Australia. The project is considered highly prospective for magmatic nickel-sulphide deposits such as IGO's Nova nickel-copper-cobalt operation, with the Company primarily targeting this style of mineralisation throughout its tenement package.
Fraser Range Nickel Project tenements.
Carawine’s Big Bang tenement is located in the Central Fraser Range region, within and on the margins of the Fraser Range Metamorphics magnetic-gravity complex (“FRM”). The FRM is considered highly prospective for magmatic nickel-copper (Ni-Cu) mineralisation, hosting IGO’s Nova-Bollinger nickel-copper-cobalt deposit, and several Ni-Cu prospects including Legend Mining’s Mawson discovery 50km to the north, and Galileo Mining’s Lantern project which adjoins Big Bang.
The Company has previously identified nine target areas at Big Bang targeting nickel-copper, gold and iron oxide copper gold (“IOCG”) deposits within the tenement from a combination of historic soil sampling and airborne magnetic interpretation, including seven targets considered prospective for magmatic Ni-Cu mineralisation (BB1 to BB7) (refer ASX announcement 15 September 2020).
Big Bang magmatic Ni-Cu targets BB1 to BB7 (background image is RTP magnetics).
Moving-loop electromagnetic (“MLEM”) surveys completed over the BB1, BB2 and BB4 target areas identified three new conductive anomalies BB1 A, BB1B and BB2A (refer ASX announcement 6 September 2022). These were subsequently drill tested, with graphite determined to be the source of each conductor with no indications of nickel-sulphides present (refer ASX announcement 5 September 2023). MLEM surveying of one or more of the other four Big Bang magmatic nickel-copper targets is planned, following updated geological and structural interpretations based on the drill program results.
The Company has been actively growing its Fraser Range tenement holdings as part of the Company’s ongoing strategy to build highly prospective gold, nickel and copper exploration tenure in regions with significant exploration potential and active exploration discoveries.
This includes "taking back" four granted exploration licences recently relinquished from the FRJV at Red Bull, Aries and Bindii, where a review by Carawine of exploration activities conducted both prior to and by the FRJV has identified areas of remaining prospectivity consistent with the Company’s exploration strategy in the Fraser Range. The Company has an ongoing program of reviewing previous exploration, including on the ex-FRJV tenements, in progress to generate and prioritise targets on these tenements.
Fraser Range Joint Venture (IGO 76%, Carawine 24%)
The FRJV is between IGO Limited (“IGO”) (ASX: IGO) (76% interest) and Carawine (24% interest) for one tenement at Big Bullocks (E39/1733), with both parties contributing to exploration expenditure according to their respective interests. IGO is the manager and conducts exploration activities on behalf of the joint venture. For FY2024 a work program and budget of approximately $0.15 million has been approved, and is focussed on a review of previous data and planning for a potential AC drilling program targeting potential ultramafic/mafic intrusions interpreted from regional magnetic and electromagnetic data on E39/1733.
Please note: these pages include information that relates to Exploration Results prepared and first disclosed under the JORC Code (2012). The information was extracted from the Company’s previous ASX Announcements which can be viewed in the Investor Information & News section of this website by clicking here.