HIGHLIGHTS:
- Auger drilling results confirm gold mineralisation across three broad areas within the Yarbu Gold Project
- Broad zones of surface gold anomalism confirmed at Yarbu – recording up to 164 ppb gold – is believed to be associated with fold hinges and fold limbs:
- Area 2 is the largest anomalism at 1.9km by 1.4km and records up to 164ppb gold
- Several anomalous zones measuring more than 20ppb gold have been identified with coincidental lead and zinc
- Areas 2 and 3 are adjacent to the Clampton North Prospect which was identified by Polaris Metals in the early 2000’s
- Next step is to follow up Auger and/or Aircore drilling of the targets which is to be expedited as soon as practicable
- TSC’s Yarbu Gold Project (YGP) is located in a highly prospective location along the Marda-Diemals Greenstone Belt, adjacent to Ramelius Resources (ASX: RMS) Marda Gold Project
- The Yarbu Gold Project compliments TSC’s suite of high-quality exploration assets in WA and NSW.
Commenting on the results from the auger campaign, CEO Simon Phillips said:
“We are delighted with the outcomes from our auger drilling campaign, the first large-scale regional sampling program to be undertaken within the Yarbu Project area. Importantly, the program has achieved its main objective, which was to confirm gold mineralisation across key areas of the Yarbu Project. We have now identified three broad areas of mineralisation which will now be subject to follow-up Auger and, or Aircore drilling at tighter spacing to allow our team to define a clear set of targets for potential follow-up drilling.
Encouragingly, the anomalism identified within Yarbu highlights the typical geochemical response from gold deposits in the region, such as being elevated in lead and to a lesser extent zinc, so we are looking forward to further investigating this potential over the coming months.”
Twenty Seven Co. Limited (ASX: TSC) (“TSC” or “the Company”) is pleased to announce the results of the recently completed Auger drilling campaign at the Company’s Yarbu Gold Project located in WA’s Gold Fields.
The Auger drilling campaign comprised 662 drill holes for 987m, with all samples assayed for gold plus 48 other elements, making this first pass program the most comprehensive geochemical sampling to date within the Yarbu Project area.
Results of up to 164 ppb gold were received from the program amongst a background level of 10-15 ppb gold. Results from the recent sampling have confirmed several anomalous zones >20 ppb gold with up to 60 ppb gold in addition to the 164 ppb gold anomaly.
All samples have been assayed at Lab West in Perth using their low-level UltraFine fraction technique which delivers highly sensitive analysis of gold and multi-elements in the ultrafine (<2µm) fraction of soil samples.
The Auger campaign has successfully generated several wide spaced anomalies across the Yarbu Project area, which can be subdivided in to three broad areas:
- Area 1 appears to show a gold in soil response that is ~2,000 x 1,000m in dimensions and appears to have associated zinc and molybdenum;
- Areas 2 and 3 area adjacent to the Clampton North Prospect which was identified by Polaris Metals (“Polaris”) in the early 2000’s. Polaris identified Clampton North by defining a ~1,000 x 200m Auger anomaly containing a >100ppb gold core over an area of ~200m x 100m in size, to the west of E77/2442. The central portion of this anomaly appears to be associated with both limbs (East and West limbs) and a hinge zone of at least two major folds. The limbs of this fold can be clearly seen in the recently reprocess magnetics as well as historical geochemical sampling undertaken by Polaris.
Importantly, TSC’s most recent work programs confirmed that the eastern limb extends in to TSC’s 100% owned tenement E77/2442. This gold in soil anomalism (with associated elements) now extends for a strike of ~1,900m by 1,400m.
Within Area 2, two geochemical samples returned 121ppb and 164ppb gold. These two results are on the same sample line and proximal to each other and are several times above the typical average crustal abundance for gold and hence show that the area has undergone many rounds of enrichment (with respect to average crustal abundance).
WA Gold Portfolio: Next Steps
The following work programs are currently underway and/or planned for TSC’s WA gold portfolio:
- Yarbu Gold Project: Undertake further Auger and/or Aircore infill drilling to better define the gold in soil anomaly.
- Mt Dimer Gold and Silver Project: 48,500 ounces established, next development and exploration steps being assessed
- Rover Gold Project: Formulating fresh drilling targets, based on extensive geochemical results, for the Blue Hills, Four Corners and Middle Well Gold Prospects. In addition, further follow up drilling is set for the Mainstay, Creasy 1 and Harmonic Gold Prospects where significant mineralisation has already been identified.
Figure 1: Yarbu Tenement location in relation to the Marda Greenstone belt, Southern Cross and Mt Dimer
Figure 2: RTP_Pseudo and RTP2VD magnetic maps showing tenements and regional gold prospects
Figure 3: RTP_Pseudo and RTP2VD magnetic maps with TSCs auger samples as white dots
Figure 3: RTP_Pseudo and RTP2VD magnetic maps with TSCs auger samples as white dots
Figure 4: RTP_Pseudo and RTP2VD magnetic maps with the gold-in-soil heat map as well as the 3 anomalous areas.
Figure 5: Close up of area that shows significant gold in soil anomalism. Area of anomalism is clearly associated with the fold limbs that show mineralisation in adjacent tenement
Figure 6: Zinc anomalism shows clear association with gold anomalism Figure 4
Figure 7: Lead does not show exact coincidental anomalism within the 3 areas, however could this be “fluid leakage?”
Figure 8: Molybdenum appears to show a negative correlation within areas 2 and 3 and slight elevation towards the north of area 1
Figure 9: Antimony shows elevation within area 1 but negative response to areas 2 and 3
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.
