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Twenty Seven Co discovers another new gold prospect at Rover Project

The company is planning auger drilling ahead of an RC drilling campaign across the new prospect.

Twenty Seven Co Ltd - Twenty Seven Co discovers new gold prospect at the Rover Project
Mistletoe is 14 kilometres southeast of Creasy 1 and 6 kilometres southeast of Red Bush

Twenty Seven Co Ltd (ASX:TSC) has discovered a new prospect named Mistletoe at the Rover Project in WA after assay results for the remaining MLTEM bedrock conductors were received.

The results showed an intersection of 3 metres at 1.75 g/t from 113 metres from Mistletoe, which is around 14 kilometres southeast of Creasy 1 and 6 kilometres southeast of Red Bush prospect, along the 20-kilometre prospective gold strike.

As the new discovery was found under shallow cover, with no outcrop or surface geochemistry, the company is now planning a targeted auger drilling campaign to define near-surface gold anomalism prior to follow up RC drill-testing.

“Ore grade intercept”

Chief executive officer Ian Warland said: “TSC’s exploration model is working well, as all eight conductors intersected significant sulphides linked with strongly anomalous gold and base metals along the Maynard Hills greenstone belt.

“Discovering an ore grade gold intercept at the Mistletoe prospect is highly encouraging, as it opens up a new gold front southeast along strike from Creasy 1 where there is a large mineralised system.

“TSC’s forward work pipeline has expanded to encompass auger and RC drilling campaigns across the Mistletoe, Red Bush, Creasy 1 and Harmonic gold prospects.”

The company is confident the success of the electromagnetic targeting approach verifies the strong regional volcanogenic massive sulphide (VMS) and gold potential along the Maynard Hills greenstone belt.

Red Bush prospect

The company announced results in late May which included a zone of gold mineralisation discovered at Red Bush prospect.

These results from two strongly anomalous gold zones include:

  • 3 metres at 0.17 g/t from 62 metres; and
  • 12 metres at 0.15 g/t from 86 metres, including 3 metres at 0.22 g/t from 86 metres.

Gold mineralisation at the prospect is hosted in a mafic schist and is associated with strongly elevated arsenic, up to 3,550 parts per million which the company believes suggest it is ‘Creasy 1 style’.

TSC is planning auger drilling to garner a greater understanding along a 600 metres strike extent ahead of further RC drilling.

Location of AEM and MLTEM conductors showing positions of recent drill holes

Ongoing exploration

Since moving loop TEM (MLTEM) technology has proved successful discovering sulphide-bearing mineralisation, the remaining seven bedrock conductors (out of 15 identified) are under review for future drill-testing

Auger drilling is planned at the new Mistletoe discovery and the Red Bush prospect, and the next RC drilling campaign will focus on extending known mineralisation around the Creasy 1 and Harmonic prospects, where large gold systems have been discovered.

Quick facts: Twenty Seven Co Ltd

Price: 0.008 AUD

Market: ASX
Market Cap: $12.69 m

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Twenty Seven Co releases final results from latest drill program, also...

Twenty Seven Co (ASX: TSC) CEO Ian Warland joined Steve Darling from Proactive to discuss the company releasing details on their latest drill program. Warland shared some of the highlights and what is the next step. Warland also shared some new info on their Rover project where they look to...

on 11/8/20

3 min read