HIGHLIGHTS:
- Results received from multi-element analysis at Rover Project, with highlights including:
- 4m @ 2,480ppm Cu and 7,037ppm Zn from 16m DH in hole 21RVRC024; and
- 4m @ 3.95ppm Ag from 24m DH in hole 21RVRC020
- Recent assays from 1m splits confirm shallow gold mineralisation and support the potential for further gold mineralisation within the 460km2 tenement package
- Rio Tinto Exploration Pty Ltd (RTX) has commenced preparations for a surface sampling programme in the northern sections of E57/1134 in mid-May 2022 pursuant to the option to farm-in agreement entered into with respect to non-gold minerals (refer to ASX announcement dated 31 March 2022)
- Preparations have included an initial site reconnaissance trip and acquisition and review of existing geophysical datasets
Twenty Seven Co. Limited (ASX: TSC) (“TSC” or “the Company”) is pleased to provide an update on further results received from recently completed reconnaissance drilling at the Company’s Rover Gold Project in WA.
Results have now been received from the multi-element analysis and details are reported below.
A two-phased Reverse Circulation (“RC”) drilling programme was completed in late 20211. Of the 2,161m drilled, a total of 509 RC samples were submitted to the lab for gold and multi-element analysis.
Commenting on the multi-element results, Non-Executive Chairman Rohan Dalziell:
“We are pleased to have received the final batch of outstanding assays from our RC drilling programme completed at Rover in December 2021. Although the multi-element geochemistry does not suggest that the massive sulphides are elevated in any precious or base metals, there is still potential for base metal mineralisation within the project area given the proximity to an active VHMS system ~30km to the south. Overall, the programme delivered on its intended objectives and assays support our aim of extending the existing gold system at the Harmonic and Creasy Prospects.
Multi-Element Analysis Summary
Of the 509 samples submitted for multi-element analysis, one composite sample returned elevated copper and zinc levels being 4m @ 2,480ppm Cu and 7,037ppm Zn from 16m DH in hole 21RVRC024 which was within granite. Further, an anomalous silver result of 4m @ 3.95ppm Ag from 24m was returned in hole 21RVRC020 which was on the contact between a granite and mafic unit. Also, other numerous silver results between 1.00ppm and 3.95ppm were returned throughout the drilling.
In summary, analysis of the multi-element geochemistry has revealed that the massive sulphides are not elevated in any precious or base metals and appear to be a combination of iron sulphides only.
See Table 1 for full analysis of samples for Ag, Cu, Co, Pb and Zn.
Rover Drill Programme Summary
A total of 31 holes were drilled for a total of 2,161m, of these total meters, all holes were 4m composited and sent for gold plus multi-element analysis.
The first stage was designed to follow up on the encouraging gold results identified at the Harmonic Prospect from previous drilling, and a second stage was undertaken over anomalous gold-in-soil results identified in late 2020.2
The 4m composite gold results were released to the market on the 4th February 20223 and confirmed that Rover is anomalous in gold which is contained within quartz veins within a greater sheared mafic unit.
Composite highlights include:
- 8m @ 0.47g/t Au from 52m in 21RVRC022
- 36m @ 0.2g/t Au from 16m in 21RVRC006
- 8m @ 0.23g/t Au from 4m in 21RVRC023
- 3m @ 0.26g/t Au from 96m (EOH) in 21RVRC021
- 43m @ 0.16g/t Au from 128m (EOH) in 21RVRC002
The 1m splits evidence zones of mineralisation with grades up to 1m @ 1.94g/t Au in hole 21RVRC002 and a broader interval of 6m @ 0.40g/t Au in hole 21RVRC0064, demonstrating good continuity along strike and down dip of the previous holes drilled by TSC in 2019 and 20205 and 6, which highlights the strong mineralised potential at Harmonic and across the broader Rover Project area.
During the recent RC drilling programme, hole 21RVRC022 intersected a 4m intersection of massive sulphides which was geologically logged as mainly Pyrite and Pyrrhotite with minor chert which contained potential exhalative texture. Given that ~30km south of the Rover Project, ASX-listed Cobre Limited’s intersected massive sulphides which contain pyrite and pyrrhotite at the Perrinvale Project, this intersection in hole 21RVRC022 is seen as encouraging.
Figure 1: Rover Gold Project relative to Greenstone belts and selected peer operations
Near-Term Exploration Plans:
The following work programmes are planned for TSC’s WA and NSW tenement portfolios:
- Yarbu Gold Project: Analyse pending assay results from auger drilling and identify areas of mineralisation/ anomalism for follow-up exploration and drilling activity.
- NSW portfolio: Undertake a soil and rock chip sampling programme over the northern end of Perseus, Southern end of Trident and Eastern side of Midas.
- Mt Dimer Gold and Silver Project: All options currently being assessed by TSC.
- Rover Gold Project: Undertaking review of all results to ascertain what the next steps will be and work closely with RTX on the northern Rover Project area.
