I'm trying to work out the 'catch' as to why New Holland didn't...

I'm trying to work out the 'catch' as to why New Holland didn't keep exploring jamieson.

I've figured that, primarily, the 22% drop in gold spot in 1996-1997, followed by a gold bear market at under $300/oz until 2002, coupled with global economic headwinds for commodities at the time (as well as the dot com boom/bust) and New Holland changing focus and then going bust, i figure Hill 800 just became a stranded, forgotten prospect on the books of the administrators.

Rhyolite creek would have been considered at dud also, as base metal prices were just as cruddy by the end of 2008/start of 2009 (GFC) and processing tech limitations meant that Precious Metal recoveries from polymet ore bodies were still fairly rubbish. With the narrow widths for the massive sulphides, it would have not compared to Rosebury, or Cannington, or other long life Polymets in operation at the time. Follow up drilling would have been considered less of a priority than Hill 800, and thus i believe why no further intercepts were recorded.

In 2019, the economics of drilling Hill 800 are very different. With the Henty Gold Mine still having reserves added almost 16 years after mining begun, with much of the new reserves found below/around 500m depth, the picture of the full prospectivity at Hill 800 now seems very incomplete. Rhyolite Creek is also far more relevant these days compared to 2008, with commodity prices and processing techniques being far better than they were a decade ago. 

With analogues to multiple super-economic ore bodies in West Tasmania (Rosebury, Henty, Hellyer, Mt Lyell, Potentially Renison even), i'd say that Carawine have a lot to look forward to in the upcoming exploration.