Twenty Seven Expanded Rover Project Tenure with New Tenement Application

Twenty Seven Expanded Rover Project Tenure with New Tenement Application

Twenty Seven Co. Limited (ASX: TSC) is a mining and exploration company, primarily focused on cobalt. The company has four projects across Australia, which are 100% owned and comprised of four tenure groupings. It has two NSW projects namely; Perseus and Midas, which are aiming at the potential Thackaringa Group Rocks, containing around 61kt of cobalt. Three potential tenements in NT are Pungalina tenement, the Pear Tree and Calvert Projects. The other two projects are namely Kalanbi Project in SA and Rover Project in WA.

On 8th April 2019, the company announced a new exploration license application (E57/1120), which secures the northern portion of highly prospective Archean greenstone belts adjoining TSC’s granted Exploration License E57/1085 in Western Australia. This new application will have a huge impact on the size of the Rover Project to the extent of around 260 km.

The Rover Project is situated around 140km west of Leonora, in a region that is rich in minerals like nickel, cobalt, copper and gold. This region is associated with mafic and ultramafic rocks hosted within Archean greenstone belts of the Yilgarn Craton. Greenstones in Yilgarn are well known for economic gold and base metal mineralisation. Looking at the history, this area is underexplored for the base and precious metals and currently undergoing an upturn in the exploration.

The company has recently completed a field trip at Rover Project, which confirmed high prospectivity of nickel-cobalt and gold targets, which were previously identified by a TSC desktop review. The conclusion of this review and the recent trip resulted in the company applying for tenement application E57/1120, which will extend the company’s tenure to the north over the northern extension of the Maynard Hills and Cook Well Archean greenstone belts prospective for nickel, copper, cobalt and gold. The exploration trip also resulted in the identification of a newly named Minga and Tartufo Oro gold targets.

Minga Gold (Au) Target

The Minga Au target covers a vast zone of subtle Au in historic soil anomalism. The company’s new tenement application E57/1120 secures tenure over the historic Creasy 1 Au prospect, where Mindax in the early 2000’s intersected anomalous Au mineralisation in RC and RAB drilling along a sheared mafic-quartzite contact associated with the Illara fault. Anomalous Au mineralisation is open to the north and south along the Illara fault zone at Creasy 1. Significant Au drills, which intercept at Creasy 1 are associated with very subtle surface geochemical responses in Au. These responses are thought to be a result of extensive colluvium, shedding from nearby barren resistive quartzite rocks obscuring the more prospective mafic units.

Tartufo Oro Au Target

The Tartufo Oro Au target comprises a shear zone within metasediments rock that contains weathered pyrite and anomalous Au up to 0.13 g/. When the shear zone becomes obscured by cover sediments, it can be traced discontinuously for around 900m along strike in a north-northwesterly direction. The company believes this shear zone warrants further testing initially with RAB drilling to better define Au anomalism.

On 15th January 2019, the company successfully identified nickel-cobalt targets on the Rover project

On the technical front, the stock surged by a massive 66.6 % in a single day and closed at A$0.005 as of 8th April 2019 compared to the previous closing of A$0.003. The last six months stock gave a negative return of 50%, and YTD return stands at negative 25%. These returns will change to positive after accounting for today’s gain.


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