- Assays from the inaugural RC drilling campaign at the Mt Dimer Mining Lease are off to an encouraging start, with multiple high-grade results – including up to 8.15 g/t gold & 26.9 g/t silver – from the first 10 drill-holes (out of 26 for 3,367m) extending known mineralisation at relatively shallow depths
- The best intercepts, for gold-silver, are summarised below:
- 7m @ 3.19 g/t gold & 14 g/t silver from 106m including 3m @ 6.5 g/t gold & 25.4 g/t silver from 106m (21MDRC008)
- 1m @ 8.15g/t gold & 26.9g/t silver & 0.604% lead & 0.622% zinc from 84m (21MDRC007)
- 4m @ 2.22 g/t gold from 160m (21MDRC010)
- 1m @ 2.94 g/t gold & 5 g/t silver from 121m (21MDRC009)
- These are complementary to historical intercepts which comprise:
- 22m @ 4.98g/t Au from 37m (DRC_023) including 10m @ 7.55g/t from 44m
- 19m @ 3.42g/t Au from 76m (DRC_031) Including 4m @ 12.95g/t from 76m
- 8m @ 4.71g/t Au from 72m (DRC_063)
- 7m @ 3.72g/t Au from 35m (DRC_036)
- 7m @ 3.95g/t Au from 84m (DRC_044)1
- Assays from a further 16 drill holes are expected shortly – TSC’s geology team are optimistic the results will build positively on the findings received to date
- In addition, as the results are ahead of expectations, TSC’s geology team intends to start focusing on modelling up a JORC compliant resource for the Mt Dimer Mining Lease
- More broadly, the next phase of exploration for the Mt Dimer Gold Project is a comprehensive surface sampling program for the exploration license immediately west of the mining lease which has similar underlying geology – this is scheduled to commence in April 2021
CEO Simon Phillips commented: “These assays from the Mt Dimer Mining Lease are extremely encouraging. Moreover, they complement historical results and extend known mineralisation significantly, which underpins the potential for a maiden resource. The Board is optimistic the remaining assays and upcoming surface sampling campaign will build upon these encouraging results for the Mt Dimer Gold Project moving forward.”
Twenty Seven Co. Limited (ASX: TSC) (“TSC” or “the Company”) is delighted to provide an update on the first batch of assays for the maiden RC drilling campaign recently undertaken at the Mt Dimer Mining Lease. Based on encouraging results – including up to 8.15 g/t gold & 26.9 g/t silver – for the first 10 drill-holes (out of 26 for 3,367m), the campaign’s main focus to extend known gold-silver mineralisation along strike and down dip was largely achieved.
ENCOURAGING RESULTS
The best intercepts from the assays received to date include:
- 7m @ 3.19 g/t gold & 14 g/t silver from 106m including 3m @ 6.5 g/t gold & 25.4 g/t silver from 106m (21MDRC008)
- 1m @ 8.15g/t gold & 26.9g/t silver & 0.604% lead & 0.622% zinc from 84m (21MDRC007)
- 4m m @ 2.22 g/t gold from 160tm (21MDRC010)
- 1m @ 2.94 g/t gold & 5 g/t silver from 121m (21MDRC009)
To provide greater context, Figure 1 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: Highlights the position of A-B cross section
Holistically, the inaugural assays are very encouraging as there were multiple, shallow high-grade gold-silver intersections that were complementary to historical results from the 1990s which include:
- 22m @ 4.98g/t Au from 37m (DRC_023) including 10m @ 7.55g/t from 44m
- 19m @ 3.42g/t Au from 76m (DRC_031) Including 4m @ 12.95g/t from 76m
- 8m @ 4.71g/t Au from 72m (DRC_063)
- 7m @ 3.72g/t Au from 35m (DRC_036)
- 7m @ 3.95g/t Au from 84m (DRC_044)
- 6m @ 13.11g/t Au from 99m (DRC_062)
- 5m @ 5.23g/t Au from 33m (DRC_048)
- 7m @ 4.25g/t Au from 91m (DRC_009) including 5m @ 15.4g/t
- 3m @ 2.25g/t Au from 166m (17MDRC004)
- 2m @ 4.58g/t Au from 81m (DRC_067)1
In terms of the underlying geology, the mineralisation at the Mt Dimer Mining Lease is characterised by massive to stringer size quartz veins occurring within heavily sheared and talc ± chlorite ± actinolite altered ultramafics. Moreover, zones of anomalous gold are typically elevated in arsenic, lead and silver. Notably, arsenic and lead are an important geochemical pathfinder in most WA gold deposits.
Ongoing Exploration and Next Steps
In terms of ongoing exploration, the immediate priority is analysing then reporting on the remaining assay results which are expected back from the laboratory shortly. Once these are received, then TSC’s geology team will commence work on modelling up a JORC compliant resource.
The next major exploration exercise, scheduled for April 2021, is a comprehensive soil sampling program over the adjacent exploration license to the west of the mining lease to identify any precious metal anomalisms.
Follow up work on Mt Dimer Mining Lease and the adjacent Exploration Lease is set to commence next week.
