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Twenty Seven Co's Rover survey exceeds expectations with 27 conductors identified

The company in a strong cash position to continue exploration and advance the Rover project in an efficient and cost-effective manner.

Twenty Seven Co Ltd - Twenty Seven Co AEM results identify 27 conductors at Rover Project
Drilling at Creasy-1 gold prospect within the Rover Project

Twenty Seven Co Ltd’s (ASX:TSC) recent airborne electromagnetic (AEM) survey has identified 27 conductors within the southern half of the Rover Project in WA, up from 13 at the preliminary stage.

The AEM survey was designed to detect potential base metals targets (conductors) associated with volcanic massive sulphide (VMS) mineralisation.

TSC chief executive officer Ian Warland said: “Without doubt, the final AEM survey results have significantly surpassed expectations, with a substantial 27 conductors to follow up at the Rover Project.”

Rover Project relative to greenstone belt and select peers’ operations

Notably, 25 of the conductors are along a 15-kilometre stretch of the Maynard Hills greenstone belt, including:

  • Two conductors west of Creasy 1 gold prospect;
  • Four conductors at Creasy 2 VMS prospect;
  • Five conductors near Creasy 3 prospect;
  • Five conductors covering a 600-metre strike at the newly discovered Red Bush prospect; and
  • Nine conductors southeast of Red Bush, with six coincident to a gold target identified in a geophysics study last year.

One conductor is on the Cook Well greenstone belt and one is in granitic rocks between the greenstone belts.

Red Bush conductors 

During processing of the final data, seven additional conductors were identified southeast of Red Bush along the Maynard Hills greenstone belt.

This provides extensive additional exploration upside to an area that is mostly under shallow cover and poorly explored.

Readings on five adjacent lines at Red Bush defined a conductor with a strike extent of 600 metres.

Follow up GEM survey

Warland said: “To maintain exploration momentum, TSC has contracted a ground electromagnetic (GEM) crew to survey the most promising AEM conductors so that high-quality test-drill targets can be finalised for future drilling campaigns.”

Several lines of GEM are planned at Creasy 2, Creasy 3, Red Bush and further southeast along the prospective Maynard Hills greenstone belt.

The survey is expected to take around one week, with results due later in the month. 

Exploration and next steps

The second reverse circulation (RC) drilling campaign has been concluded at the Creasy 1 Gold and Harmonic VMS prospects, with initial assay results expected shortly.

Planning is well advanced for further RC drilling in the June quarter.

Warland said: “With the second RC drilling program complete, TSC is now eagerly awaiting assays and GEM results which will determine next steps.”  

Exploration work is continuing despite the current COVID-19 situation, with TSC in a strong cash position to advance the Rover project in an efficient and cost-effective manner.

The company has taken extra precautions, in line with official health advice and government directives, to ensure the safety employees, contractors’ safety and operational continuity.

Shares are 25% higher today at 0.5 cents.

Quick facts: Twenty Seven Co Ltd

Price: 0.0065 AUD

Market: ASX
Market Cap: $13.78 m

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