Twenty Seven Co Ltd (ASX:TSC) is confident of expanding its gold bounty after being granted a new tenement which has increased its footprint at the Rover Project in WA’s Goldfields by 80% to 461 square kilometres.
The company's geology team has started field mapping and sampling work on the newly granted tenement E57/11354, which contains three historic gold targets - Anomaly 1, Anomaly 2 and Four Corners Quartzite - at which initial work is focused.
This new ground, which expands the sizeable Rover footprint to the northwest, covers a material portion of the Cook Well and Maynard Hills greenstone belts.
It provides TSC with potential exploration upside for Archean gold and volcanic massive sulphide (VMS) style mineralisation following the discovery of gold-copper anomalism at the Creasy-2 prospect.
“Exciting development for TSC”
Chief executive officer Ian Warland said: “This is an exciting development for TSC as the tenure extension nearly doubles the size of the Rover Project and materially enhances the exploration upside for gold and base metal mineralisation.
“More significantly, we have three historic gold in soil anomalies along the Maynard greenstone belt that require follow-up.
“Encouragingly, we see evidence for the continuation of the Illaara shear zone into the new ground, which hosts the gold-focused Harmonic and Creasy-1 prospects further south in TSC’s existing ground holding.
“Moving forward, we will leverage the significant learnings gained from TSC’s successful exploration program so far, as initial fieldwork commences on the new ground.”
Several areas for immediate follow-up have been identified from reviewing previous historic work, including:
- Anomaly-1 – comprising a 2.7-kilometre-long gold-in-soil anomaly with rock chips up to 0.82 g/t gold;
- Anomaly-2 – a 400-metre-long gold-in-soil anomaly; and
- Four Corners Quartzite – a 2-kilometre-long prominent ridge of mapped quartzite outcrop, with similarities to Creasy-1 and Harmonic prospects.
Notably, the new ground provides TSC with the potential exploration upside for Archean gold and volcanic massive sulphide (VMS) style mineralisation following the discovery of gold-copper anomalism at the Creasy-2 prospect.
The Maynard Hills greenstone belt on the eastern boundary, which includes the 20-kilometre prospective gold strike, has demonstrable known shallow economic gold intercepts at Creasy-1 and Harmonic prospects.
On the western boundary, the largely unexplored Cook Well greenstone belt, which extends from Sandstone’s gold region through to Cobre’s Perrinvale Project, contains known nickel targets and is now clearly prospective for VMS anomalism.
Initial field mapping and sampling has begun on the new tenement, while exploration targeting is well underway as the geology team assess available legacy geochemical and geophysical data sets.