Proactiveinvestors Australia Twenty Seven Co Ltd Proactiveinvestors Australia Twenty Seven Co Ltd RSS feed en Wed, 24 Jul 2019 15:15:40 +1000 Genera CMS (Proactiveinvestors) (Proactiveinvestors) <![CDATA[News - Twenty Seven Company expedites exploration on Rover gold target near Sandstone ]]> Twenty Seven Company Ltd (ASX:TSC) has expedited exploration on a 12-kilometre prospective gold strike within the Rover Gold Project near the Sandstone belt in WA’s goldfields.

The company’s primary focus for the project is gold, followed by nickel and copper, in two extensive Archean greenstone belts that span the length of the tenure.

CEO Ian Warland said: “With the fundamentals for the gold sector remaining robust, we decided to bring forward the Rover project visit and accelerate the exploration program."

Fieldwork recently undertaken has comprised a portion of the 12-kilometre gold strike extending south of Creasy 1 to Creasy 2.

Creasy 1, which is within the recently acquired area that is still under application, contains historical gold intersections of up to 6 metres at 1.37 g/t from 18 metres and 3 metres at 1.94 g/t from 53 metres.

Gold anomalies in historic soil samples

All fieldwork carried out by the geology team comprised mapping, infill soil and rock chip sampling designed to identify the most prospective areas along the mineralised shear zone for test drilling.

Extensive outcropping banded iron formation (BIF) potentially coincides with gold anomalies in historic regional soil samples.

Consequently, the geology team collected several gossanous BIF samples which have been submitted to the laboratory for analysis.

In addition, shallow unrecorded historic workings were located in laminated BIF – along strike from anomalous gold in soil samples to the south.

Selected rock chip samples were collected from the old workings which contained gossanous-looking BIF with minor quartz veining.

Next steps

Follow-up analysis of surface geochemical and anomalous gold results between Creasy 1 and Creasy 2 will aid formulating priority areas for drill testing.

Warland said: "At site, the geology team focused on priority gold targets along the 12-kilometre prospective gold strike between the Creasy 1 and 2 prospects which could potentially be defined for drill testing.

"Encouragingly, the Rover project delivers material exploration upside, as we have identified a large prospective corridor, with significant scale potential, that has remained under-explored over the past 15 years.”

Mon, 22 Jul 2019 16:25:00 +1000
<![CDATA[News - Twenty Seven Co acquires cobalt-nickel prospect in WA ]]> Twenty Seven Co Limited (ASX:TSC) has acquired an exploration licence for the Rover project in WA’s Yilgarn Craton through its wholly-owned subsidiary TSC Exploration Pty Ltd.

An initial desktop review has identified four high priority nickel and cobalt targets for follow-up.

The project is 140 kilometres west of Leonora and just 40 kilometres from St George Mining’s Mt Alexander Nickel Cobalt Project

“Exciting addition” to portfolio

Twenty Seven Co chief executive Ian Warland said: “The grant of the Rover project in the prospective greenstone belt, just 40 kilometres from Mt Alexander is an exciting addition to the company’s cobalt exploration portfolio.

“Rover has a number of historical cobalt and nickel targets which should benefit from the application of modern exploration techniques including EM to better rank and prioritise work going forward.”

High priority targets

The four nickel and cobalt targets are:

Christmas Pool nickel-cobalt target

Main Road nickel cobalt-target

Cook Well Bore nickel-cobalt target

Victory Bore komatiite target

Historically the area has had limited shallow exploration, which focused on gold and iron ore.

However, interpretation of aeromagnetic data suggests an east-west trending dyke analogous to St George Mining’s Mt Alexander Project.

Historical high-grade assays

The Christmas Pool nickel-cobalt target had historical drilling results of up to 23 metres at 0.22% nickel and 115ppm cobalt from surface.

Previous drilling for iron ore intersected up to 7 metres at 0.25% nickel and 374ppm cobalt from surface at the Main Road nickel-cobalt target.

Next steps

Previous exploration indicates modern EM targets have not been applied to the project as the focus remained primarily on gold and iron ore since the 1990s.

This provides the company with the opportunity to follow-up areas of nickel-cobalt anomalism with modern EM for more focused drill targeting.

Reconnaissance mapping and a geochemistry field trip is planned for March 2019 to better define the target areas prior to future geophysics and testing.

- Jessica Cummins


Tue, 15 Jan 2019 02:33:00 +1100
<![CDATA[News - Twenty Seven granted cobalt prospect in McArthur Basin of Northern Territory ]]> Twenty Seven Co Ltd (ASX:TSC) has been granted its first tenement in the highly prospective McArthur Basin of the Northern Territory and aims to identify cobalt mineralisation.

An exploration licence has been granted for the Pungalina tenement (EL31761) to the company’s wholly-owned subsidiary, Nomad Explorations Pty Ltd.

Pungalina is about 824 square kilometres and is within an area that hosts the world-class McArthur River deposit, the Stanton cobalt deposit and the historical Redbank copper deposits.

Adjacent to Stanton cobalt deposit

It is adjacent to Northern Cobalt Ltd’s (ASX:N27) tenements which host the Stanton deposit containing 1,200 tonnes of cobalt.

CEO Ian Warland said: “The granting of Pungalina tenement is the first of three exciting cobalt projects to be granted to the company in the prospective McArthur Basin.

“The presence of anomalous cobalt at Pungalina in historic stream sediments samples is highly encouraging.

“A recent field trip to the area to talk to landowners and undertake reconnaissance was completed and we look forward to updating the market with exploration progress in the near future.”

Tenements have cobalt potential

The company believes its tenements in the NT have significant potential for shallow sediment and volcanic-hosted cobalt mineralisation similar to Stanton.

N27 has identified a potential volcanic pipe cluster at the Barra anomaly in the northern part of its tenure adjacent to Pungalina.

Three cobalt anomalous areas worthy of follow-up have been identified in a review of previous exploration at Pungalina.

Previous exploration by Rio Tinto Pty Ltd included stream sediment sampling in the 1990s when anomalous stream sediment samples up to 35ppm cobalt were collected.

An anomalous cobalt zone trends in a north-westerly direction away from N27’s Barra anomaly.

Previous exploration did not focus on cobalt and hence these anomalies have not been adequately followed up, with no drilling recorded at Pungalina.

Field reconnaissance underway

Twenty Seven has started field reconnaissance work in preparation for more extensive fieldwork in the coming months.

Pungalina is one of three exploration tenements in the NT held by Nomad, totalling around 2,456 square kilometres.

On June 13, 2018, Twenty Seven announced that it had entered into an agreement with Nomad shareholders to acquire 100% of Nomad with the acquisition finalised on August 13.

Thu, 16 Aug 2018 16:03:00 +1000