New South Wales Cobalt Projects

Twenty Seven Co. Limited (TSC) is currently exploring for copper and cobalt across the Company’s two new projects in the prospective Broken Hill Block in New South Wales.

KEY POINTS

  • TSC’s two NSW projects – Midas and Perseus – are targeting the Curnamona for IOCG style mineralisation such as Copper Blow (ASX: SCI)
  • TSC has identified compelling copper and gold drill targets at the Benco prospect at the Midas Project
  • At Perseus,  TSC is focussing on the highly prospective “Redox boundary” in conjunction with favourable structural trap sites for IOCG style mineralisation
  • TSC is looking for joint venture partners to progress Midas and Perseus Projects as quickly as possible

EXPLORATION RATIONALE

  • The Curnamona Province is considered part of the iron oxide copper gold (IOCG) super province that extends from the Gawler Craton to the Eastern Succession of the Mount Isa terrane (Conor and Preiss 2008).
  • The Curnamona is prospective for several styles of mineralisation with the focus at the Midas and  Perseus Projects for IOCG deposits.    Regionally IOCG mineralisation is known to be associated with the redox boundary at the top of the Thackaringa Group which is mappable in the aeromagnetic data, and extends for around 70km within the Perseus Project.
  • The Geological Survey of NSW’s November 2018 Mineral Potential Report for the Curnamona ranked 3 of the 6 high priority Perseus targets as highly prospective (10/10)
NSW_01 - TwentySevenCo - Australian Cobalt Exploration

Figure 1 (click to expand)

MIDAS PROJECT SUMMARY

  • TSC’s Midas Project is located ~40km NE of Broken Hill adjacent to Silver City Minerals (ASX:SCI) Yalcowinna Tenement
  • The main prospect at Midas is the Benco copper-gold-cobalt prospect which consists of several narrow quartz iron oxide vein sets that have been mapped within a north-east trending corridor ~1.6km long by 300m wide.
  • Assayed rock chips have returned up to 4,160ppm Cu, 0.3g/t Au and 369ppm Co. Several anomalous rock-chips were coincident with a north-east trending ridge in an interpreted shear zone within the prospective Thackaringa Group rocks.
  • Results from an induced polarization (IP) survey over the Benco prospect successfully defined numerous chargeable zones often coincident with known copper-gold-cobalt rock-chip anomalies.
  • TSC is considering the best option to progress Midas and drill test the highly prospective geochemical and robust shallow IP targets over an extensive NE trending corridor more than 1.6km long.   Discussions are ongoing for potential joint venture partners while TSC focusses on its WA Rover Project.

Figure 2 (click to expand)

PERSEUS PROJECT SUMMARY

  • TSC’s Perseus Project is located ~40km west of Broken Hill and 15km north of the Thackaringa cobalt project (ASX:COB)
  • Extensive cover on the Mundi Mundi plain has hindered effective exploration in the past leaving the area under explored in the world class Broken hill Block
  • Evidence of thick packages of weakly mineralised Thackaringa Group have strong potential for high grades in favourable structural traps such as fold noses, faults and shear zones.
  • Perseus has potential for a large scale project with over 70km of prospective “redox boundary”  identified in the airborne magnetics.  The redox boundary is often mineralised in IOCG style copper and gold.
  • TSC has identified six high priority IOCG targets for testing.   The Geological Survey of NSW’s November 2018 Mineral Potential Report for the Curnamona ranked 3 of the 6 high priority Perseus targets as highly prospective (10/10).
  • TSC is looking to joint venture Perseus Project while the Company focusses on the Rover Project in WA

Figure 2 (click to expand)