Plenty of reasons to be optimistic about the next sets of assay...

Plenty of reasons to be optimistic about the next sets of assay results here..........


"Typical copper-gold porphyries display a magnetic “potassic zone” at the core of the system containing alteration minerals magnetite, biotite and k-feldspar. This potassic zone is surrounded by the non-magnetic “phyllic zone” containing alteration minerals quartz, sericite and pyrite transitioning to the “propylitic zone” containing alteration minerals chlorite, epidote and carbonate".


Here are some excerpts from DD021 descriptions:

• "strong chloriticalteration from around the base of weathering at 31m and continuing to 269.1m"

• "Towards the base of this magnetite altered zone and extending down hole beyond it, elevated molybdenum (Mo) grades were returned, with a 32m interval from 104m returning 17.5ppm Mo. Molybdenum values greater than 5ppm tend to occur proximal to the magnetic potassic core of mineralised porphyry systems"

• "significant that overlapping magnetite and Mo enrichment was intersected"

• "From 334m to 353m elevated magnetic susceptibility values averaging 0.26 x10-3 SI units were measured. This magnetite altered zone correlates with the start of an interval of highly elevated Mo assay grades of 119.6m @ 15.2ppm Mo, extending from 327m to the end of the hole at 446.6m"

• "From 387.7m to 410m a distinct, intensely altered intermediate intrusive was discovered. This intrusive unit has a uniform phenocryst size and is distinct in terms of style, alteration and chemistry from any other rocks intersected in previous drilling by Carawine".

• "Intense silica-sericite-pyrite alteration within this intrusive unit is characterised by abundant pyrite as veinlets with siliceous halos and as disseminations (Figure 5). It is not magnetic, however does contain elevated Mo grades"

• "There is however a substantial increase in gold and copper grades (above 0.1g/t Au and 250ppm Cu), and consistently elevated molybdenumgrades, with the 36m interval from 410m to the end of hole at 446.6m averaging 0.11g/t Au and 5.9ppm Mo"

• "From 436.3m to the end of the hole the altered andesite becomes more chloritic with a marked reduction in sericite and silica alteration, retaining elevated but patchy Au, Cu and Mo values"

Considering that DD021 wasn't 'really targeting' any distinct porphyry anomalies as defined in their models it does display many of the classic 'hallmarks' that very strongly suggest there is something 'lurking' in the vicinity (so does DD020 and it's worth re-reading the ann from 28th Feb imo.............https://www.asx.com.au/asxpdf/20200228/pdf/44fkjmng1qm5t5.pdf


Re DD020:

• "new high-grade sulphide-rich zone comprises a 2m zone of semi-massive to massive sulphides comprising pyrite and chalcopyrite from 179m - 181m which returned 2m @ 52.9g/t Au, 1.47% Cu and 76.5g/t Ag

• "Copper-gold porphyry pathfinder elements are significantly elevated over the same interval with 44.9ppm Te, 3.76ppm Bi and 17.9ppm Se from 179m"

But first off we'll see assays from DD022.................

• "H8DD022 targeting the down-dip extension of high-grade mineralisation intersected in drill hole H8DD002 (reported interval of 43m @ 4.24g/t Au, 0.3% Cu from 177m) (refer ASX announcement 27 May 2019).

Results for DD022 should be interesting the deeper they go as it should provide more evidence regarding the potential for a porphyry system lurking nearby...................DD022 will most likely (if at all) only 'skirt the edges' I would think, but I'll be looking for elevated pathfinder elements toward EOH again, along with distinct alteration patterns at deeper levels perhaps.........along with (I hope) nice extensions of shallow high grade Au from near surface of course...........

DD022 might not be deep enough to really offer up much on the porphyry side of things, but it will increase our knowledge of what's going on out there no doubt in this respect.

It will be the assays from DD023 that will provide our 'best snapshot' of the potential for a significant porphyry system to date.

DD023 is directly targeting a defined anomalous unit, M14, which has 'roots' modeled as plunging down into the 'serious looking' M2 anomaly.

• "Sixteen modelled anomalies, seven have been prioritised for initial drill testing based on their size, depth and location relative to known mineralisation and surface geochemical anomalism. These are anomalies M2 to M5 and M14 in the Hill 800 area".

• "M2 and M14 are part of the broader magnetic complex located to the south of Hill 800. M2 forms part of the deeper roots to the Hill 800 complex and is modelled directly below the Hill 700 prospect where rock chip samples up to 4.74g/t Au in silica-sericite-goethite gossan have been reported preciously (refer ASX announcement 15 July 2019)".

Both set of results are due 'soon' (DD022 first then DD023) but the assays I'm very keen to see are those for DD023 (white dashed line in figure above).................of course, as we all know the assays will do the talking. But so far CWX have presented holders with a compelling case for some very interesting potential for this ground.

Our market cap is 'tiny' imo considering the ground we have here and elsewhere which is being worked by RIO FMG and IGO respectively (how's that for a roll call of serious heavy hitting JV/farm-in partners)...............77.3mill SOI with T20 holding circa 40% leaves very significant room for substantial upside should we receive good news from any of our active exploration fronts.

Hole 23........voted most likely to be a 'discovery hole'..................(as voted by me).............

Good fortune to all.

(***note anything not in "quotation marks" here is all pure conjecture based on my own distillation of available evidence so please DYOR and so on).