Carawine Resources Limited announced an update to the diamond drilling program at Red Bull, about 30km south of IGO's Nova Operation in the Fraser Range region of Western Australia. Red Bull is part of the Fraser Range Joint Venture between Carawine and IGO, with IGO managing and operating the joint venture. IGO currently holds a 70% interest in the joint venture tenements and is sole funding the exploration program to 30 June 2022 to earn up to an additional 6% interest. The second diamond drill hole in the Red Bull diamond drilling program, named 21AFDD117, was completed at the Red Bull B ("RB_B") moving-loop electromagnetic ("MLEM") target to a total depth of 491.8m. The drill hole targeted a modelled 2,500S MLEM plate at a depth range of 475-525m downhole, potentially related to an accumulation of conductive Ni-Cu sulphides. The dominant rock types intersected in the drill hole are folded and variably deformed intermediate to mafic granulite, metasedimentary gneiss, and minor fine-grained recrystallised mafic-ultramafic intrusions. The hole intersected two intervals of graphite and pyrrhotite-rich fine-grained metasediment (metapelite) (approx. 10-20% pyrrhotite visually estimated) from 422-426m and 439-445m downhole, just above the targeted depth range of 475-525m downhole. A subsequent downhole electromagnetic ("DHEM") survey confirmed these two metapelite zones to be the source of the RB_B conductor target, with no off-hole conductors identified. Sampling of the drill hole for routine assaying is in progress. The first drill hole of the current Red Bull program (21AFDD116) targeted the RB_C conductor, a 5,500S plate modelled at a depth range of 475-525m downhole from surface MLEM data. This hole did not intersect any conductive units, and therefore did not identify the source of the RB_C conductive anomaly. A subsequent DHEM survey of 21AFDD116 identified a clear, well defined off-hole conductive anomaly named RBC_DHEM, slightly above and 100m to the east of the drill hole. The modelled RBC_DHEM conductor target has very high conductance at 6,600S, its dimensions are 170m x 250m, with a depth to the top of 150m. Given the relative higher accuracy of the DHEM survey method, and the source of the RB_C anomaly remaining untested, drill testing of RBC_DHEM is warranted. The design of this program will be based on detailed DHEM modelling, geological interpretation and assay results from drill holes 21AFDD116 & 21AFDD117.