STTCOMP CWX FA LONG
GOLD
S/P-14c
Mktcap-$7.8mill
Cash-est $1mill
Incredibly undervalued Vs assets + exploration upside
VIC Gold Fields #1 project
100% owner of HILL 800 drill results to date>>
-92.7m @ 3.22g/t Au from 2.3m (H8DD006)
-43m @ 4.24g/t Au, 0.3% Cu (H8DD002)
-101m @ 1.44g/t Au from 21m (H8DD019)
-34m @ 3.84g/t Au from surface (H8DD017)
Five new gold prospects defined within 1km of Hill 800: rock chip samples up to 4.74g/t Au associated with
gossans identical to the Hill 800 discovery outcrop
• Potential for large-scale magmatic-related mineral systems at depth beneath the Hill 800 and Rhyolite Creek prospects
• Hill 800 Mineral Resource estimate due before the end of SEPT19
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2nd major project area >>>
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 deposit and Metals X's Nifty copper deposit.
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) (Figure 8).
Carawine’s Paterson tenements 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 based on their proximity to known mineralisation, shallow depth to basement, prospective stratigraphy and geophysical anomalies. The Company's tenement holding is one of the few remaining large, 100%-owned tenement packages in the region.
3rd project
FRASER RANGE PROJECT
The Fraser Range Project includes 5 granted exploration licences in four areas: Red Bull, Bindii, Big Bullocks and Similkameen (Fraser Range Joint Venture tenements); and one exploration licence application Big Bang (100% Carawine), in the Fraser Range region of Western Australia
The Project is considered prospective for magmatic nickel-sulphide deposits such as that at Independence Group NL’s (ASX:IGO; “IGO”
Nova nickel-copper-cobalt operation. Carawine has a joint venture with IGO for the five granted tenements (the Fraser Range Joint Venture). IGO currently hold a 51% interest and can earn an additional 19% interest in the tenements by spending $5 million by the end of 2021.
Market cap to assets + Mgmt experience
= sub $10mill value doesn't make sense and I don't think it will last once the Hill 800 resource is announced
(20min delay)