Twenty Seven Co Ltd (ASX:TSC) has appointed a Western Australian-based drilling contractor to undertake up to 2,000 metres of reverse circulation drilling at the Rover project once regulatory approvals have been granted.
The priorities for drilling are gold and VMS targets at the Creasy 1 & 2 prospects along the 20-kilometre strike within the Maynard Hills greenstone belt on the eastern boundary.
- Shallow historic economic gold intersections at Creasy 1; and
- New gold and volcanic massive sulphide (VMS) targets around Creasy 2 which are further southwest along the 20-kilometre gold strike.
“Top-tier” drilling program
Chief executive officer Ian Warland said: “TSC’s momentum change over the past few months has been exceptional.
“It is encouraging to note once TSC receives regulatory approvals, the drilling contractor can then deploy to site relatively quickly to begin work.
“The geology team has conducted an extremely thorough review of all critical inputs and formulated a top-tier drilling program designed to deliver optimal results.
“We look forward to updating shareholders on progress over the balance of the year.”
The Rover project relative to the greenstone belt and select peers’ operations
The company has identified more than 20 targets along two greenstone belts that run along its east and west boundaries including:
- The Maynard Hills greenstone belt in the east which is dominated by mafic, metasedimentary rocks and BIF with seven gold and nine VMS-style targets; and
- The Cook Well greenstone belt in the west which is dominated by mafic, ultramafic rocks and BIF with four gold and two nickel targets.
These high priority targets deliver Twenty Seven exploration update and optionality to generate value for shareholders moving forward.
The first priority for the company is to begin drilling once regulatory approvals are secured.
TSC is also continuing exploration at other targets with the aim of ranking them for future drill testing.
The drilling campaign is timely, as there is significant interest in the Central Yilgarn region following several recent discoveries including high-grade VMS mineralisation at Cobre’s Perrinvale project and Spectrum Metals Ltd's (ASX:SPX) high-grade gold Penny West project