Northern Territory Cobalt Projects

Twenty Seven Co. Limited (TSC) has three new projects in the prospective McArthur Basin in Austrlaia’s Northern Territory (NT). The tenements are located near to known Cobalt (Co) and Copper (Cu) mineralisation. Regional assessment of the tenements is underway to generate priority drill targets.

KEY POINTS

TSC’s  three NT project areas are located in the McArthur Basin – host to the world class McArthur River deposit, the Stanton Cobalt deposit and the historic Red Bank Copper deposits.

  • The Pungalina tenement was granted in August 2018, the Pear Tree and Calvert Projects are in application.
  • Both the Pungalina and Pear Tree Projects are adjacent to Northern Cobalt’s tenements that host the Stanton Cobalt Deposit (ASX: N27).
  • The Pear Tree Project has mapped Gold Creek Volcanics in the southern part of the tenement.
  • The Calvert Project is located on a regionally significant fault that may have acted as an important plumbing system for mineralising fluids. Aeon’s (ASX: AML) Walford Creek deposit is located just south of the Fish River Fault ~60km to the south east of the Calvert Project.

NT EXPLORATION RATIONALE

Mineralisation potential in the TSC project area includes;

  • Stanton Co, Ni deposit hosted in sediments and basalts of the Gold Creek Volcanics,
  • Red Bank Cu deposit hosted in volcanic breccias pipes often in clusters within the Gold Creek Volcanics,
  • Walford Creek style sediment hosted poly-metallic deposits (pyritic units proximal to major faults),
  • Ultramafic dykes with Ni, Cu, Co potential,
  • Lateritic Co & Ni potential, and
  • Sediment hosted base metal deposits (McArthur River).

The region remains under explored due to Cenozoic Cover.

Northern Territory Cobalt Projects TwentySevenCo Map

Figure 1: Project Location Map Northern Territory (click to expand)

NT_Project Locations - TwentySevenCo - Australian Cobalt Exploration

Figure 2. Simplified Regional Geology of the Northern Territory Projects (click to expand)

PUNGALINA (EL31761) PROJECT SUMMARY

  • TSC’s Pungalina Project is adjacent to Northern Cobalt’s (ASX:N27) tenements which host the Stanton cobalt deposit containing 1200t of cobalt (ASX: N27: ASX Release dated 6 March 2018)
  • TSC believes its NT tenements have significant potential for shallow sediment and volcanic hosted cobalt mineralisation similar to that of the Stanton deposit.
  • N27 has identified a potential volcanic pipe cluster at the Barra Anomaly in the northern part of its tenure adjacent to TSC’s Pungalina (N27: ASX Release dated 30 May 2018)
  • Three cobalt anomalous areas worthy of follow-up have been identified in a review of previous exploration on TSC’s EL31761. Historic exploration by Rio Tinto Pty Ltd included stream sediment sampling in the 1990’s  with anomalous stream sediment samples up to 35ppm Co collected. An anomalous cobalt zone on EL31761 trends in a north-westerly direction away from N27’s Barra Anomaly (Figure 2)
Northern Territory - Pungalina Project Simplified Geology and Historic Stream Sediment Samples

Figure 2. Pungalina Project Simplified Geology and Historic Stream Sediment Samples (click to expand)