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Twenty Seven Co (ASX:TSC) - CEO, Simon Phillips
CEO, Simon Phillips
Source: Twenty Seven Co
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  • Twenty Seven Co (TSC) delays drilling program at its Midas Project in NSW due to COVID-19 restrictions and will turn its focus to exploration in WA
  • TSC says it is disappointed it can’t start work, but will recommence the program once restrictions are lifted
  • In the meantime, Twenty Seven Co has switched its attention to its Rover Gold Project in WA, moving the drilling program ahead by a month
  • Drill hole planning is under way, designed to test previous drill results across a number of prospects within the project area
  • Shares closed grey this afternoon at 0.4 cents

Twenty Seven Co (TSC) has halted the drilling program at its Midas Project in NSW due to COVID-19 restrictions and will turn its focus to exploration in WA.

The company has decided to temporarily delay drilling at the project, which lies within the company’s iron-oxide-copper-gold and base metals portfolio in NSW, as restrictions have been extended in the state to control the rising number of COVID cases.

TSC’s CEO Simon Phillips said the company was disappointed it couldn’t start work on its NSW projects. However he said it would continue to monitor the COVID situation and was poised to recommence the program once restrictions were lifted.

“We are thankful for the ongoing support shown by drilling contractors, landowners and local geological staff and remain committed to advancing our NSW work program as soon as practicable,” he said.

In the meantime, Twenty Seven Co has switched its attention to its Rover Gold Project in WA by making arrangements to start drilling in early September, one month earlier than originally planned.

TSC said that following work over the past few weeks, the exploration and management teams had secured drilling approvals for the majority of areas and organised for geological staff and drill infrastructure to be mobilised to start drilling.

Additionally, drill hole planning is said to be under way and will be designed to target previous drill results at the Harmonic, Creasy 1, Creasy North, Blue Hills, Four Corners and Middle Well Prospects.

The company has identified three main gold anomalies which it said had never been drilled before. As such TSC believes the anomalies represent “outstanding new exploration opportunities” to complement the existing gold prospects.

Mr Phillips said TSC was excited to bring the program forward and begin drilling some of the best targets the company has identified to date.

Shares closed grey this afternoon at 0.4 cents.

TSC by the numbers
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