Gold and base metals explorer Carawine Resources has wrapped up the acquisition of two exploration licences from Thunderstruck Investments at its Tropicana North project, in Western Australia.
The company announced earlier this month that it would acquire a 90% interest in two granted licences from Thunderstruck and a 100% interest in four licence applications in the Tropicana region through the acquisition of Phantom Resources.
These two acquisition, together with Carawine’s existing tenement applications, will cover more than 80 km strike of the Tropicana belt, within 10 km of the Tropicana mine operated by AngloGold Ashanti and IGO.
“Completion of this strategic acquisition now allows the company to hit the ground running, with an initial focus on the more advanced, high-grade gold targets,” said MD David Boyd.
“The upcoming drilling is expected to be just the start of an extended programme in the region to evaluate the large number of targets already identified from historic work, with a systematic exploration effort to continue throughout 2021,” Boyd added.