Exceptional assays deliver up to 23g/t gold & 33g/t silver at Mt Dimer

  • The assays from the final 16 holes from the February 2021 RC drilling campaign at the Mt Dimer Mining Lease continues to deliver shallow, high-grade results with up to 23g/t gold & 33g/t silver – the best intercepts comprise:
    • 8m @ 13.55g/t gold from 80m incl. 4m @ 23g/t gold from 80m (21MDRC017)
    • 6m @ 7.07g/t gold & 6.93g/t silver from 45m Incl. 1m @ 22.90g/t gold from 49m (21MDRC025) – note: finished in mineralisation
    • 1m @ 6.93g/t gold & 16.5g/t silver from 111m (21MDRC023)
    • 14m @ 0.53g/t gold & 1.56g/t silver from 14m (21MDRC022)
    • 17m @ 0.16g/t gold from 29m (21MDRC023)
    • 1m @ 2.75g/t gold & 9.9g/t silver from 145m (21MDRC012)
    • 1m @ 1.50g/t gold & 29.2g/t silver from 130m (21MDRC014)
  • Encouragingly, these fresh assays validate legacy results (below) and extend significantly known mineralisation:
    • 7m @ 3.19g/t gold & 14g/t silver from 106m incl. 3m @ 6.5g/t gold & 25.4g/t silver from 106m (21MDRC008)
    • 1m @ 8.15g/t gold & 26.9g/t silver & 0.60% lead & 0.62% zinc from 84m (21MDRC007)
    • 4m @ 2.22g/t gold from 160m (21MDRC010)
    • 1m @ 2.94g/t gold & 5g/t silver from 121m (21MDRC009)
    • 22m @ 4.98g/t gold from 37m (DRC_023) incl 10m @ 7.55g/t from 44m
    • 19m @ 3.42g/t gold from 76m (DRC_031) incl 4m @ 12.95g/t from 76m
    • 8m @ 4.71g/t gold from 72m (DRC_063)
    • 7m @ 3.72g/t gold from 35m (DRC_036)
    • 7m @ 3.95g/t gold from 84m (DRC_044)1
  • Bundling fresh and historical data, TSC’s geology team confirms there is now ample data to expedite the modelling of a JORC compliant resource for the Mt Dimer Mining Lease
  • Concurrently, several members of TSC’s geology team are now at the adjacent Mt Dimer Exploration Lease, which is immediately west of the mining lease, progressing a comprehensive surface sampling program to identify incremental targets for test-drilling

 

CEO Simon Phillips commented: “Assessing the assays holistically verifies the integrity of legacy data and delivers clear evidence the Mt Dimer Mining Lease is a possible shallow, high-grade gold-silver system. As such, the Board’s next goal is to have the geology team model up a JORC compliant resource which will determine next steps for the Mt Dimer Mining Lease. Further, to continue building forward momentum, TSC’s geology team are now assessing the gold-silver potential of the Mt Dimer Exploration Lease.”

 

Twenty Seven Co. Limited (ASX: TSC) (“TSC” or “the Company”) is delighted the final assays from the February 2021 drilling campaign verified the integrity of legacy data and confirmed the Mt Dimer Mining Lease is a possible shallow, high-grade gold-silver system with up to 23 g/t gold & 33 g/t silver recorded.

 

HIGH-GRADE, SHALLOW GOLD-SILVER SYSTEM

To recap, the February 2021 RC drilling campaign comprised 26 drill-holes for a total of 3,367m. Looking at the results holistically, there is clear evidence the Mt Dimer Mining Lease is a possible high-grade, shallow gold-silver system. Moreover, the key insights from the campaign are:

  • Gold-silver mineralisation was extended along strike and down dip;
  • The geology team now have a comprehensive understanding of the deposit’s geochemical signature, while the underlying structural setting is starting to become more apparent; and
  • There is now ample current and historical data to commence modelling up a JORC compliant resource.

The best intercepts from the assays received to date and historically include:

    • 8m @ 13.55g/t gold from 80m incl. 4m @ 23g/t gold from 80m (21MDRC017)
    • 6m @ 7.07g/t gold & 6.93g/t silver from 45m Incl. 1m @ 22.90g/t gold from 49m (21MDRC025) – note: finished in mineralisation
    • 1m @ 6.93g/t gold & 16.5g/t silver from 111m (21MDRC023)
    • 14m @ 0.53g/t gold & 1.56g/t silver from 14m (21MDRC022)
    • 17m @ 0.16g/t gold from 29m (21MDRC023)
    • 1m @ 2.75g/t gold & 9.9g/t silver from 145m (21MDRC012)
    • 1m @ 1.50g/t gold & 29.2g/t silver from 130m (21MDRC014)
    • 7m @ 3.19g/t gold & 14g/t silver from 106m incl. 3m @ 6.5g/t gold & 25.4g/t silver from 106m (21MDRC008)
    • 1m @ 8.15g/t gold & 26.9g/t silver & 0.60% lead & 0.62% zinc from 84m (21MDRC007)
    • 4m @ 2.22g/t gold from 160m (21MDRC010)
    • 1m @ 2.94g/t gold & 5g/t silver from 121m (21MDRC009)
    • 22m @ 4.98g/t gold from 37m (DRC_023) incl 10m @ 7.55g/t from 44m
    • 19m @ 3.42g/t gold from 76m (DRC_031) incl 4m @ 12.95g/t from 76m
    • 8m @ 4.71g/t gold from 72m (DRC_063)
    • 7m @ 3.72g/t gold from 35m (DRC_036)
    • 7m @ 3.95g/t gold from 84m (DRC_044)1

 

To provide greater context, Figure 1-4 highlights a cross section of the Mt Dimer Mining Lease showing the recent and historical drilling results.

Figure 1: Cross Section showing historical results in white and recent results in yellow

 

Figure 2: Cross Section showing historical results in white and recent results in yellow

 

Figure 3: Cross Section showing historical results in white and recent results in yellow

 

Figure 4: Map showing the Locations of TSC drill holes and the cross section location

 

Ongoing Exploration and Next Steps

With the assays now complete, the immediate priority is for the geology team to digest the results then commence building up a JORC compliant resource.

In addition, with a comprehensive soil sampling program over the adjacent exploration license to the west of the mining lease now underway, report on findings as they materialise.

 

COMPETENT PERSON’S STATEMENT:

The information in this report relates to historical mineral exploration results and is based on work reviewed and compiled by Mr. Stephen F Pearson, a Competent Person and Member of the Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists. Mr. Pearson is a Senior Geologist for GEKO-Co Pty Ltd and contracted to the Company as Exploration Manager and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr. Pearson consents to the inclusion in this report of the information in the form and context in which it appears. The Australian Securities Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

 

CAUTIONARY STATEMENT

  • Historical exploration results reported in this announcement are based on data reported in historical reports rather than data that has been produced by Twenty Seven Co. Limited;
  • Historical exploration results have not been reported in accordance with the JORC Code 2012;
  • A Competent Person has not done sufficient work to disclose the historical exploration work in accordance with JORC 2012;
  • It is possible that following further evaluation and/or exploration work that the confidence in the historical exploration results may be reduced when reported under JORC Code 2012;
  • Nothing has come to the attention of the acquirer that causes it to question the accuracy or reliability of the former owners’ historical exploration results, but
  • The acquirer has not independently validated the former owners’ historical exploration results and therefore is not to be regarded as reporting, adopting or endorsing those historical results.

 

Reference:

Further details relevant to this announcement can be found in ASX releases below:

  1. TSC: ASX 11 September – Option & placement for exciting gold projects

 

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