Twenty Seven Co. Limited (TSC) is currently undertaking its maiden RC drilling program at Mt Dimer Mining lease in Western Australia.

KEY POINTS

  • The Mt Dimer Gold Project comprises a mining lease (M77/515) and exploration license (E77/2383) located circa 100km North-East of Southern Cross (see the map on the right). To recap, the Mt Dimer mining lease was last mined in the mid-1990’s when the gold price was circa A$500 per ounce. The open pit produced ~77,000t @ 3.44g/t Au for circa 8,500 Oz of Au, to 50m depth. (Reference: ASX: TSC: 30 September 2020, Strong gold potential at Mt Dimer)
  • No significant production or exploration work has been completed since 1996. Historical drilling from the 1990’s and four drill-holes from 2017 indicate that significant gold mineralisation exists under the open pit and along strike. A north-south long section through the Mt Dimer deposit indicates gold mineralisation plunging shallowly south below the current pit level and remaining open at depth.
  • TSC’s Mt Dimer project sits just over 1 hour North of Great Eastern Highway, to the North West of the famous gold mining town of Southern Cross.
  • As well as the project’s close proximity to the major highway and power it’s sits within a two hour drive from the major Gold Mining centre of Kalgoorlie.
  • Mt Dimer’s Mining Lease expires in 2034.

LATEST ANNOUNCEMENT – 31 May 2021

ESTABLISHES SOLID GROWTH FOUNDATION IN WORLD-CLASS SOUTHERN CROSS DOMAIN
  • ASX release: Maiden JORC Resource Defined at Mt Dimer Gold and Silver Project in WA
  • Total Maiden JORC 2012 Inferred Mineral Resource Estimate for the Mt Dimer Gold and Silver Project includes 722kt @ 2.10 g/t Au for 48,545 ounces of gold and 3.84 g/t Ag for 89,011 ounces of Silver
  • Resource includes the low-grade near surface laterite component, as well as the vein hosted Resource
  • Resource split into above and below 380mRL (surface approx. 500mRL) using two different cut offs to take into account higher potential mining costs (Figure 7)
  • Resource remains open to the south and down dip, with strong potential to extend the mineralisation along strike to the south
  • Maiden Resource solidifies TSC’s position in the highly prospective Southern Cross Goldfields District in WA and provides strong base for future growth
  • TSC remains confident additional mineralisation may be defined outside of drilling completed to date either on the mining lease or the exploration license to the west
  • Planning for follow up work programs is underway on the exploration license which equals approximately 87% of the overall land package at Mt Dimer

Commenting on the maiden JORC Resource for Mt Dimer, CEO Simon Phillips said:

“We are pleased to report the maiden JORC resource estimate for our Mt Dimer Gold Project. This initial resource validates the Company’s recent exploration work and provides a solid platform to unlock further value from our portfolio of WA gold assets. Data generated from the complex JORC resource modelling, together with recently completed geochemical work, indicates that gold mineralisation may be unlocked from across the Mt Dimer tenement package, and we look forward to providing further updates on follow up work programs in due course. TSC is building an exciting pipeline of quality exploration assets and we look forward to systematically unlocking value for our shareholders.”

Read Latest ASX Announcement on Mt Dimer Project

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REFERENCE

  • 31/5/2021 - Maiden JORC Resource Defined at Mt Dimer Gold and Silver Project in WA
  • 13/5/2021 - Soil Anomalies Highlight Potential to Extend Gold Mineralisation at Mt Dimer Project, W
  • 8/4/2021 - Exceptional assays deliver up to 23g/t gold & 33g/t silver at Mt Dimer
  • 31/3/2021 - EInitial assays confirm shallow high-grade gold at Mt Dimer
  • 19/2/2021 - Significant progress with Mt Dimer drilling
  • 11/2/2021 - Drilling campaign underway at the Mt Dimer Mining Lease
  • 29/1/2021 - Drilling to commence imminently at Mt Dimer
  • 18/12/2020 - Approvals received for Mt Dimer maiden drilling program
  • 23/11/2020 - Accelerating Mt Dimer Mining Lease development post site visit

See ASX releases for more information