The Company’s Paterson Project is located in the Paterson Province of Western Australia, host to several large copper and copper-gold deposits and recent discoveries. The project tenements are interpreted to contain host formations and structures common to the major mineral deposits in the area. The Company is primarily targeting copper and copper-gold deposits in the Paterson region.
Carawine’s Paterson & Oakover Project tenements.
The Cable tenement is located about 60km north of the Nifty copper deposit and is contiguous with the West Paterson JV Baton tenement. Several new copper, gold, lead, and zinc prospects have been identified along the “Warroo Trend” from historic mapping, surface sampling and shallow AC (vacuum) drilling, as follows.
The Warroo Trend sits along a syncline in Archaean-aged Hardy Formation rocks, located to the west of the Vines Fault. The trend was discovered by previous explorers in the 1980s from mapping of a rock sequence comprising interlayered chloritic phyllites, wackes, sedimentary carbonates, carbonate-altered intermediate to mafic volcanics, and felsic and mafic intrusives over a strike length of more than 10km. The trend is named after the historic “Warroo Prospect”, which sits at the southern end of the trend, just outside the Cable tenement.
The rocks along the Warroo Trend are strongly folded, metamorphosed to upper greenschist/lower amphibolite facies, with extensive laminar cherty quartz veins exposed. This geology is strongly suggestive of a potential submarine bimodal volcanic sequence prospective for polymetallic volcanogenic massive sulphide (“VMS”) deposits. The cherty quartz veins are weakly gossanous, malachite stained, and strongly anomalous in copper, gold, zinc and lead.
E45/5510 Cable exploration target areas.
Extensive rock chip sampling of the volcanics, veining and gossans along the Warroo Trend within the Cable tenement returned the following value ranges (refer ASX announcement 18 October 2022):
The peak historic Cu (5.4%), Pb (0.25%), Zn (0.99%), Ag (19.5ppm) and As (3,040ppm) rock chip values define the Warroo North Prospect, with the highest Zn value of 0.99% associated with gossanous cherty quartz veins with malachite and smithsonite staining. Warroo North also returned the highest recorded gold geochemical value from historic work in the area, with 0.65ppm gold returned from a single bulk loam concentrate sample taken within a 2km x 1.25km area mapped as “prospector loaming” (a large area of historic gold prospecting activity). No drilling has occurred at Warroo North.
The Warroo NE Prospect comprises a ~1km x 500m Cu (5ppm to 1,900ppm) and Zn (5ppm to 1,000ppm) anomaly in two lines of 300m x 100m spaced soil samples, and quartz vein subcrop, and an associated 1km x 500m Cu (200ppm to 528ppm) anomaly in shallow vacuum AC drill samples (refer ASX announcement 18 October 2022). This area has also not been drill-tested beyond the vacuum AC program (as described below).
Previous explorers completed a 500m x 500m spaced tractor-mounted shallow vacuum AC drilling program designed to sample bedrock just below the base of transported material along the Warroo Trend, with sample depths ranging from 3m to 12m. Results from the program define a 10km x 2km, >100ppm Cu and closely associated >100ppm Zn anomalous trend within the Cable tenement, containing several higher grade zones of up to 1,500ppm Cu, and up to 1,630ppm Zn (refer ASX announcement 18 October 2022).
The extent and tenor of the copper-gold-lead-zinc-silver anomalism, associated with gossanous cherty quartz veining within a bimodal volcano-sedimentary rock package represents an excellent target area for future exploration at Cable. Defined prospects at Warroo North and Warroo NE, and the larger Warroo geochemical Trend, provide a focus for this exploration which is likely to include a combination of airborne or ground geophysical surveys and wide-spaced, deeper drilling, aimed at defining specific targets for additional direct drill-testing.
There is also high potential for complex folding, block faulting and accommodation zones within the Broadhurst Formation in the Cable tenement, east of the Vines Fault. These structural elements are considered favourable for the formation of Nifty-style mineralisation, with this potential largely untested to date.
At the Magnus tenement, located within 600m of the Nifty Operations waste dumps and extending about 20km to the north, a new conceptual copper target named “Europe” has been identified.
The Europe target is located in the core and on the flanks of a large northwest-trending fold structure interpreted from ground and airborne electromagnetic surveys and drill data and has the potential for the formation of copper sulphides analogous to the style and setting of mineralisation at the Nifty deposit. The target was developed by previous explorers as an extension to their Citadel prospect, with seven drill holes located within the Magnus tenement proposed to test the target. Despite multiple programs proposed from 2007, the target remains untested and is therefore considered ready to drill.
Europe target on VTEM conductivity image.
Planning for programs to explore the Warroo North, Warroo NE, Warroo Trend and Europe targets is in progress, with on-ground work currently expected to commence during 2024.
West Paterson JV (Rio Tinto Exploration, earn-in right up to 80%)
Carawine’s “West Paterson JV” is a farm-in and joint venture agreement with Rio Tinto Exploration Pty Ltd (“RTX”), a wholly owned subsidiary of Rio Tinto Limited, whereby RTX has the right to earn up to an 80% interest in the Baton and Red Dog tenements by spending $5.5 million in the six years to October 2025 to earn a 70% interest and then sole funding to a prescribed milestone. RTX is managing and operating exploration activities whilst it is farming-in.
RTX have identified and prioritised key targets and target areas for drilling or other fieldwork across the West Paterson JV tenements, following earlier target generation and geophysical programs completed by Carawine.
The Baton tenements are located about 100km north of the Nifty copper deposit, with historic workers identifying 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). Several early-stage but compelling magnetic and gravity anomalies have been identified from detailed airborne and ground geophysical surveys at Baton, similar to those observed at the Winu and Havieron discoveries (refer ASX announcements 8 July & 27 August 2019)
Prior to entering the West Paterson JV, the Company completed detailed ground gravity surveys over the Wheeler, Javelin and Discus prospects on the Baton tenements. The gravity survey following a detailed airborne magnetic survey completed in June 2019 and was successful in identifying several gravity high anomalies coincident with magnetic high anomalies, as follows (refer ASX announcement 27 August 2019):
Gravity and magnetic anomalies at Javelin, Wheeler and Discus.
Coincident magnetic-gravity anomalies are considered to increase the potential of a target to host certain types and styles of mineralisation, compared to targets based on magnetic anomalies alone. An example of this is Greatland’s Havieron gold and copper prospect, where magnetic and gravity anomalies associated with the mineralisation were used to target the discovery drill holes. Magnetic high anomalies are also spatially associated with Rio Tinto’s Winu and Ngapakarra discoveries.
In December 2019 RTX completed an airborne gravity gradiometer (AGG) survey over the Baton tenements to further resolve prospective stratigraphy and structure, and add to the understanding of mineralising systems in the project area, as an input to review and targeting of exploration programs. Then in 2021 RTX completed a helicopter-borne electromagnetic survey utilising NRG’s Xcite™ system over the Baton tenements. An initial interpretation of the data from this survey by RTX has highlighted six conductive anomalies outside of typically conductive Broadhurst Formation stratigraphy. Two of these anomalies (BEM001 and BEM006) are associated with gravity highs (refer ASX announcement 27 October 2021).
Baton targets (image is Z-component dBdT Channel 45 data).
Priority targets for initial drill testing on the Baton tenements include the airborne electromagnetic (AEM) anomaly BEM001, magnetic and gravity targets at Herb and Wheeler, and the recently defined Buzzer structural target (refer ASX announcements 27 October 2021; 27 August and 8 July 2019).
The Red Dog tenement 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).
In addition to targets generated from the work of previous explorers, Carawine completed a detailed VTEM™ Max helicopter-borne electromagnetic ("VTEM") survey with the aim of delineating discrete conductive anomalies associated with sulphide mineralisation (e.g. Rio Tinto’s Winu discovery) or resistive zones associated with alteration (e.g. silica-dolomite alteration associated with the Nifty copper deposit).
The VTEM survey completed prior to the West Paterson JV was successful in identifying twelve conductive and four resistive anomalies in new areas and at previously identified prospects.
After entering the West Paterson JV, RTX’s review of the Red Dog tenement confirmed multiple high priority potential targets at prospects defined by Carawine, and the potential for new targets to be identified. Magnetic and VTEM anomalies located proximal to interpreted intrusives and/or within favourable structural locations in the Earl, Duke, Bravo and Leatherneck areas were confirmed as warranting further screening and testing. New targets defined by RTX include Clouser and Marquess, discrete, resistive AEM anomalies within Broadhurst Formation shale, interpreted as potential analogues to the Nifty copper deposit (located within the Flying Tiger and Leatherneck prospect areas respectively); and WB (Earl) within a broad, resistive AEM anomaly on the edge of a large interpreted felsic intrusion within the Malu and Puntapunta Formations (host to the Telfer gold-copper deposit) (refer ASX announcements 19 February and 29 July 2019 and 6 October 2021).
Red Dog conductivity image and targets.
An initial phase of RC drilling has been completed over the Ghost and Zulu prospects on the Red Dog tenement, with trace levels of base metal (copper, zinc, lead) sulphides encountered (ASX announcement 27 April 2022). Drilling of selected targets at Baton and Red Dog commenced in September 2023.
Coolbro JV (Fortescue earning to 51%)
The “Coolbro JV” is a farm-in and joint venture agreement with FMG Resources Pty Ltd, a wholly owned subsidiary of Fortescue Metals Group Ltd (“Fortescue”), whereby Fortescue has the right to earn up to a 75% interest in the Lamil Hills, Trotman South, Sunday and Eider tenements by spending $6.1 million in the seven years to November 2026. Fortescue has satisfied the conditions required to earn a 51% beneficial interest in the Coolbro JV tenements (“Stage 1 Earn-In”), and has elected to earn an additional 24% interest in the tenements by sole-funding $4.5 million (in addition to the $1.6 million incurred to satisfy the Stage 1 Earn-In) of exploration expenditure on the Coolbro JV tenements by the end of 2026, during which Carawine will be free carried. Fortescue is managing and operating exploration activities whilst it is farming-in.
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.
Eider is located 35km southwest of Newcrest’s Telfer gold operations and 35km southeast of Metals X’s Nifty copper operations near the edge of the Waukarlycarly Embayment, with geology most similar to that hosting the Nifty 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.
Coolbro JV VTEM™ Max survey areas.
Fortescue has completed interpretations of surface and drilling data to assist with target generation, heritage and other access planning activities, and geological and logistical reconnaissance trips to the JV tenure. Fortescue has also completed an airborne electromagnetic survey over the tenements, using the VTEM™ Max (Versatile Time Domain Electromagnetic, "VTEM") helicopter-borne electromagnetic system.
Fortescue completed a 4-hole drilling program on the Eider tenement in 2022 (refer ASX announcement 28 April 2023), and further advanced target generation and land access negotiations at Eider, Lamil Hills and Trotman South. More recently, discussions with Native Title holders regarding access to tenements have been progressed, including the scheduling of a heritage survey in late-2023 to gain access into the Trotman South tenement (E45/4847) where Fortescue have identified several potential AEM anomalies for further evaluation and testing, subject to the completion and results of the heritage survey.
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.