Twenty Seven Co Ltd’s (ASX:TSC) 1-metre re-assays have confirmed the discovery of a large, shallow mineralised gold system at Rover Project with results of up to 1-metre at 11.8 g/t from 59 metres and 1-metre at 6.4 g/t from 71 metres.
The re-assays have been carried out on 3-metre composites taken during the March 2020 reverse circulation (RC) drilling campaign.
Results have re-confirmed the discovery of a large, shallow mineralised gold system across Harmonic and Creasy 1 prospects with the 11.8 g/t assay returned from Harmonic within 13 metres at 1.2 g/t from 58 metres.
CEO Ian Warland said: “Undertaking 1-metre re-assays significantly boosts TSC’s confidence and excitement that a large, shallow high-grade mineralised gold system has been discovered across the Harmonic and Creasy 1 prospects.”
Shares have been 25% higher in early trade to 1 cent.
Rover Project relative to greenstone belt and select peers’ operations.
Other strong 1-metre re-assays at Harmonic are:
- 10 metres at 1.8 g/t from 44 metres including 1-metre at 9.2 g/t from 46 metres;
- 8 metres at 1.0 g/t from 0 metres including 1-metre at 3.5 g/t from 2 metres;
- 10 metres at 1.0 g/t from 71 metres including 4 metres at 1.5 g/t from 75 metres;
- 1-metre at 11.7 g/t from 103 metres; and
- 10 metres at 0.5 g/t from 27 metres including 2 metres at 1.2 g/t from 27 metres.
The most southern line at Harmonic has high-grade gold at 1-metre at 11.7 g/t from 103 metres with the nearest drill-hole around 350 metres to the southeast at Creasy 1 which contains 1-metre at 1.3 g/t from 37 metres.
Creasy 1 results
At Creasy 1 the best high-grade 1-metre re-assays from the March 2020 campaign comprise:
- 8 metres at 1.0 g/t from 65 metres including 1-metre at 6.4 g/t from 71 metres;
- 4 metres at 2.2 g/t from 56 metres including 1-metre at 5.6 g/t from 57 metres;
- 2 metres at 3.2 g/t from 105 metres including 1-metre at 5.2 g/t from 106 metres;
- 2 metres at 1.0 g/t from 134 metres including 1-metre at 1.3 g/t from 135 metres; and
- 8 metres at 0.6 g/t from 57 metres including 3 metres at 1.3 g/t from 57 metres.
A holistic review of all drilling results suggests the best gold zones occur as plunging shoots developed in dilation zones associated with fold structures.
TSC drilling summary showing maximum gold intercepts.
The 1-metre re-assays reinforce the gold potential at Rover and, importantly, the benefit of progressing further work to determine the full extent of the underlying mineralised gold system.
New areas identified
TSC’s geology team, which has applied the fold-controlled shoot model more broadly along the 20-kilometre prospective gold strike in the Maynard Hills greenstone, has identified promising new areas south of Creasy 1 for follow-up in the next phase of exploration.
Warland said: “Importantly, the exploration story is just beginning, as TSC’s emerging shoot-style geological model, coincident with folded mineralised contact, has highlighted further gold targets a stone’s throw from Creasy 1 to the southeast.
"Meanwhile, with drilling wrapping up at eight VMS targets, follow-up assay results will shortly be released to the market.”
Exploration at the Rover Project is continuing and key activities over the short term are:
- Completion of the drill-testing and assaying eight compelling MLTEM bedrock conductors for VMS-style mineralisation; and
- Further planning followed by drill testing of Creasy 1 and Harmonic prospects and surrounding targets.