- Write by:
-
Friday, November 20, 2020 - 1:42:38 PM
-
474 Visit
-
Print
Mining News Pro - Carawine Resources has tightened its hold of the Tropicana North gold project in Western Australia with the acquisition of Phantom Resources.
This gives the gold and base metals explorer 100 per cent ownership of four exploration licence applications in the Tropicana region.
The Phantom tenement runs adjacent to Carawine’s Thunderstruck joint venture (JV) tenements and includes a 7-kilometre long geochemical anomaly and a 60-kilometre strike of the Tropicana belt, within 45 kilometres of AngloGold Ashanti and IGO’s Tropicana gold mine.
The combination of these tenements gives Carawine more than 80 kilometres of strike of the Tropicana belt in total.
“Our Tropicana North project gives Carawine a significant position in the active and highly prospective Tropicana gold province,” managing director David Boyd said.
“The addition of the Phantom tenement applications is a big part of this, with an immediate high-potential gold target at the Pleiades prospect and strike extensions of the same and similar rock units and structures to those hosting the tier 1 Tropicana gold mine.”
Carawine is now set to progress the Phantom tenements by preparing and designing exploration programs which will commence mid-2021.
“In the meantime, the company is about to begin drilling at a number of gold targets on the Thunderstruck JV tenements, marking the start of an extended exploration program which is planned to continue throughout 2021,” Boyd said.
The company completed the Phantom acquisition with the issue of 600,000 fully paid ordinary shares to Phantom’s shareholders.
Back in September, Carawine purchased 90 per cent interest in the Hercules and Atlantis prospects from Thunderstruck Investments for two exploration licences at Tropicana North.
With this latest Phantom acquisition, Carawine is now positioned with prospective gold tenements within 10 kilometres of the Tropicana gold mine.
Short Link:
https://www.miningnews.ir/En/News/608442
Canada’s corporate ethics watchdog on Tuesday said it was likely that human rights abuses had occurred at a mine in ...
Commodities usually rally when central banks cut interest rates, bolstering the case for going long raw materials in the ...
Awalé Resources (TSXV: ARIC) stock soared on Monday after the Newmont-backed gold explorer reported outstanding assay ...
French President Emmanuel Macron said on Monday the government is seeking to designate new regulated gold mining zones ...
Newmont Corp. has kicked off the sale of its Akyem gold mine in Ghana, which is attracting interest from potential ...
Vista Gold has released an updated feasibility study for its Mt Todd gold project in Northern Territory, Australia, to ...
Gold production in Burkina Faso declined last year as deteriorating security conditions in the West African nation ...
Gold snapped nine days of record-breaking gains as underlying US inflation topped forecasts for a second month in ...
A Senegalese opposition coalition backed by popular firebrand Ousmane Sonko launched its presidential campaign platform ...
No comments have been posted yet ...