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Soil Anomalies Highlight Potential to Extend Gold Mineralisation at Mt Dimer Project, WA

Soil Anomalies Highlight Potential to Extend Gold Mineralisation at Mt Dimer Project, WA

HIGHLIGHTS:

  • TSC completes first modern, systematic on-ground reconnaissance exploration program within the 100% owned Mt Dimer Exploration Licence in WA
  • Program identified three gold in soil anomalies outside of known mineralisation – high priority targets are coincident within favourable lithological units
  • The largest of these newly identified gold in-soil anomalies is approximately 800m in strike length and up to 500m in width at its widest point
  • Recent program completed adjacent to the Mt Dimer Mining Licence, where RC drilling has identified shallow, high-grade mineralisation including up to 23g/t Au & 33g/t Ag
  • Mt Dimer Project remains largely underexplored by modern geochemical techniques – early indications demonstrate strong potential for undercover gold mineralisation to be hosted within the Mt Dimer tenements
  • Follow-up infill sampling program and regional geological mapping planned

 

Twenty Seven Co. Limited (ASX: TSC) (“TSC” or “the Company”) is pleased to announce that it has completed its first soil geochemical program over its 100% owned Mt Dimer Exploration Licence, E77/2383, located 120km NE from Southern Cross in Western Australia.

Importantly, this initial reconnaissance soil geochemical program has successfully identified three gold in soil anomalies throughout E77/2383 confirming the potential for undercover gold mineralisation. The largest of these newly identified anomalies is approximately 800m in strike length and up to 500m in width at its widest point (Figure 4).

The Mt Dimer Project consists of two tenements – the Mt Dimer Mining Licence M77/515 (“MDML”) within which a maiden RC drill program was recently completed (see ASX announcement dated 8 April 2021), and Exploration Licence E77/2383.

With limited historical full multi-element geochemical data available for a portion of E77/2383, this initial program was designed to provide coverage over the interpreted prospective areas for gold mineralisation, similar to the vein and shear zone hosted gold mineralisation within the MDML, which occurs approximately 700m to the east.

 

Figure 1: TSC geological team soil sampling on E77/2383

 

Commenting on the geochemical program, CEO Simon Phillips said:

“We are very pleased with the indications from the first ever systematic geochemical sampling program to be completed over the Mt Dimer Exploration Licence. Encouragingly, the gold in soil anomalies we have identified appear to coincide with other geological units that are known to host mineralisation within the region.  Given the distribution of gold throughout the Mt Dimer Project area, our geological team is very optimistic about the potential for further mineralisation to be identified over this exploration license.”

 

Mt Dimer Soil Sampling Program Summary

TSC’s reconnaissance soil sampling program was specifically designed to test and confirm the results of historical geochemical sampling and to focus on Geological Survey of Western Australia (“GSWA”) mapped and magnetically inferred structures, shear zones and lithological contacts.  The historical¹ sampling clearly shows gold in soil anomalisms along strike to the south of MDML (Figure 3).

TSC’s soil sampling program has successfully identified three distinct gold (Au), Arsenic (As) and lead (Pb) geochemical anomalisms within E77/2383, within which As and Pb appears to be coincidental with the gold in soil anomalism, see Figures 4-7.

Of these three anomalies, two are higher priority targets and appear to correlate with mapped and interpreted shear zones and geological contacts.

The Company’s geology team collected a total of 274 samples covering the SW corner of the tenement. Samples of 500g were collected from an approximate depth of 20cm over a grid spacing ranging from 40m x 200m, to 80m x 800m.

As part of the program, an orientation survey was undertaken to try and replicate and verify the historical soil sample results.  The orientation survey shows that results from TSC’s program broadly replicate the historical results; in particular, those for Au and As.  All samples were assayed at Lab West in Perth using their low-level UltraFine fraction technique which was developed through CSIRO/MRIWA research project M462 and delivers highly sensitive analysis of gold and multi-elements in the ultrafine (<2µm) fraction of soil samples.

 

Next Steps

Planned exploration activities at Mt Dimer include:

  • Follow up and infill sampling program
  • A regional geological mapping project to ascertain and map lithologies within the anomalous gold zones
  • Identify any potential gold bearing structures

A summary of the relevant project maps has been provided on the below pages.

 

Figure 2: Historical auger points as triangles and TSC recent geochemical points as circles

 

Figure 3: Historical auger points and recent geochemical points clearly show the Au in soil mineralisation along strike from the Mt Dimer Gold Project

 

Figure 4: Soil geochemical map colored by Au ppb showing anomalism which is approximately 800x500m

 

Figure 5: Soil geochemical map colored by As ppm

 

Figure 6: Soil geochemical map colored by Pb ppm

 

Figure 7: Geochemical map showing tenement outline with the base map coloured by Pb and the line contours coloured by Au

 

Figure 8: Au ppb overlain by the local geology.  As can be seen the gold anomalisms occur within the ultramafic unit (purple) as well as the mafic intrusives (dark green)

 

Reference

  1. Please refer to JORC Table 1 for details on the historical sampling.

 

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 beneficiary of a trust which is shareholder of TSC.  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.

 

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