Join our daily newsletter At The Bell to receive exclusive market insights
- Twenty Seven Co (TSC) has intersected more significant high-grade gold at the Creasy 1 prospect within the Rover Project
- Also, TSC discovered potential volcanic massive sulphide (VMS) style mineralisation at the copper soil anomaly which is newly named the “Harmonic prospect”
- RC drilling at this prospect returned encouraging gold, silver and anomalous base metal intersections
- Further drilling will be conducted early next year to better define and expand mineralisation
- Twenty Seven Co shares have soared 25 per cent and are sitting at 0.5 cents each
Twenty Seven Co (TSC) has intersected more significant gold at the Creasy 1 prospect within the Rover Project.
These assay results are for the remaining nine drill-holes from the company’s reverse circulation (RC) drilling program and compliant standout shallow, high-grade gold results reported just two weeks ago.
The Creasy 1 target comprises gold mineralisation located along the extensive Illara shear zone which forms part of a 20-kilometre gold strike.
RC drilling campaign has confirmed the presence of shallow, high-grade gold at the prospect that materially eclipses all historic drill results.
Significant results include 3 metres at 14.8 g/t gold from 57 metres, 3 metres at 20.1 g/t gold from 51 metres, 3 metres at 4.0 g/t gold from 57 metres, 3 metres at 3.1 g/t gold from 24 metres, 3 metres 1.5g/t gold from 36 metres, and 3 metres 3.3g/t gold from 102 metres.
Gold mineralisation at the Creasy 1 prospect has been intersected over 1.2 kilometres along strike and there appears to be a mix of high-grade zones and lower grade areas.
But, what remains consistent is the continuity of anomalous gold along strike confirming the high prospectiveness of the Illara shear zone.
Future drill testing will be focused on better defining the high-grade zones, down-dip and along strike.
Additionally, TSC discovered potential volcanic massive sulphide (VMS) style mineralisation at the copper soil anomaly which is newly named the “Harmonic prospect.”
“The teams new geological model is paying off, with TSC’s inaugural RC drilling campaign delivering outstanding results at Creasy 1: the discovery of shallow high-grade gold and potentially new VMS style mineralisation,” CEO Ian Warland said.
RC drilling at this prospect returned encouraging gold and silver intersections including 15 metres at 1.4g/t gold, including 3 metres at 3.1g/t gold and 16.8g/t silver in hole 19RVRC008 and 9 metres at 1.8g/t gold, including 3 metres at 4g/t gold in hole 19RVRC007.
Along with gold, high-grade silver and anomalous base metals were intersected in 19RVRC008 which may indicate a VMS signature.
“Overall, the key takeaway from the inaugural drilling campaign is the Rover Project’s now demonstrable gold and VMS potential with significant exploration upside moving forward,” Ian added.
More drilling is required to test the orientation of the mineralisation but, so far, evidence supports a folded sequence plunging gently to the south.
Follow up drilling will focus on testing this model and continuing mineralisation down-dip and along strike towards the Creasy 1 gold prospect.
Currently, TSC is waiting for assays from drilling at Creasy 2 which tested the 200 metre-ling zinc-lead anomaly in soils and rock-chips within a larger copper-gold soil anomaly.
Now that this campaign has been completed, the company is planning drilling for quarter 1 of 2020.
Twenty Seven Co shares have soared 25 per cent and are sitting at 0.5 cents each at 12:31 pm AEDT.
