- Base and precious metal explorers Twenty Seven Co (TSC) has reported strong assay results from half of its targets drilled at the Rover Project in Western Australia
- The highlight came from a 12-metre 0.15 grams per tonne of gold intersect from the inaugural drill hole at the Red Bush target
- TSC is especially bullish about the apparent sulphide zones intersected at all four targets, which were identified prior to the dig by the moving loop TEM technology
- The remaining four assay results should be returned shortly according to the company, and planning is now underway for the next phase of the gold-focused exploration
- Despite the news, the company is 25 per cent in the red today, selling shares for 0.6 cents each
Base and precious metals explorer, Twenty Seven Co (TSC), has reported strong anomalous gold and base metal zones from half of their returned assay results at the Rover Project in Western Australia's Goldfields region.
The company has analysed four out of the eight assay results, with the highlight coming from a 12-metre 0.15 grams per tonne of gold (g/t) intersect from the inaugural drill hole at the Red Bush target.
A single drill-hole at the Creasy 3 bedrock conductor intersected a sulphidic interval, with a broad zone of anomalous Volcanic Massive Sulphide mineralisation (VMS) signature metals including 0.6 g/t of gold, 9.8 g/t of silver, 0.33 per cent lead and 0.14 per cent zinc.
TSC is especially bullish about the assay results after confirmed sulphide zones were intersected at all four bedrock conductors, which the company claimed verified that the moving loop TEM (MLTEM) technology successfully identifies sulphide-bearing mineralisation with anomalous metals.
Twenty Seven Co Chief Executive Officer, Ian Warland, said the results conveyed an encouraging story at the project.
"Particularly the discovery of strongly anomalous gold & base metal zones along the Maynard Hill greenstone belt," Ian said.
"Notably, intersecting 0.2 g/t of gold at the 600-metre long bedrock conductor at the Red Bush prospect, which is seven kilometres along strike from Creasy 1, justifies further follow up drill testing. In addition, hitting sulphides in all four bedrock conductors demonstrates the success of using MLTEM as a targeting tool at Rover," he continued.
"Moreover, the presence of VMS signature metal anomalism at the Creasy 2 and 3 bedrock conductors underpins confidence in TSC’s exploration model," Ian concluded.
TSC said drilling is now complete over the eight bedrock conductors selected for testing in this campaign, with assays for the remaining four conductors drilled expected shortly.
Background on the RC drilling campaign
TSC completed an airborne electromagnetic (AEM) survey back in February, which identified 27 anomalies at the Rover Project, interpreted to represent 15 discrete bedrock conductors.
The company reported eight of the AEM anomalies were selected for on-ground MLTEM surveys in April, which confirmed all eight to be strong and discrete bedrock conductors giving responses consistent with sulphide mineralisation sources. Significantly, modelling of the eight conductors indicated they are generally shallow, ranging from sub-cropping to 90 metres deep.
Despite the news, the company is 25 per cent in the red today, selling shares for 0.6 cents each at 1:15 pm AEST.