Twenty Seven Co. (ASX:TSC) Bolsters its Gold Portfolio, Acquires Mt Dimer Project

  • November 09, 2020 05:47 PM AEDT
  • Kunal Sawhney
    Kunal Sawhney
    CEO Kunal Sawhney
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    Kunal Sawhney is founder & CEO at Kalkine and is a richly experienced and accomplished financial professional with a wealth of knowledge in the Australian Equities Market. Kunal obtained a Master of Business Administration degree from University of T...

Twenty Seven Co. (ASX:TSC) Bolsters its Gold Portfolio, Acquires Mt Dimer Project

Summary

  • Twenty Seven Co. has acquired the Mt Dimer, Trident and Yarbu projects from Cadre Resources following the acquisition of Oz Gold Group.
  • Mt Dimer Gold Project includes a mining lease and an exploration licence, which are highly prospective for Archean gold deposits. Yarbu is an exploration licence and is prospective for Archean gold. The IOCG assets acquired include the Trident Project.
  • The Company has been progressing on the Rover Project with assay results released for the latest phase of drilling highlighting strong potential at the Harmonic prospect.

Australian explorer Twenty Seven Co. Limited (ASX:TSC) has wrapped up the acquisition of the highly prospective Mt Dimer Gold Project, which includes a mining lease (M 77/515) and an adjacent exploration licence (E 77/2383). The acquisition also includes the Trident Project (EL8736) and the Yarbu Project (E 77/2442).

Oz Gold and Mineral Project Acquisitions

On 28 October 2020, Twenty Seven Co. had announced the completion of the acquisition of 100% stake in Oz Gold Group Pty Ltd and exercised an exclusive option to acquire 100% of the tenements from Cadre Resources Pty Ltd (“Cadre Option”). The completion of the tenement acquisition has followed the exercising of the Cadre option with a cash payment of $450,000 to Cadre Resources.

Suggested Read: Twenty Seven Co. (ASX:TSC) Surges ~14% Post Oz Gold Acquisition and Quarterly Updates

The premium Mt Dimer Gold Project is situated almost 200 kilometres of Southern Cross in the Western Australian goldfields. The Yarbu Project sits in the north-west of the Mt Dimer mining lease acquired by TSC. The Trident Au-Cu project is located 35 kilometres north-east of Broken Hill enhancing the Company’s foothold in the area surrounding Broken Hill as complemented by the Midas and Mundi-Mundi assets.

WA Archean Gold and NSW IOCG Portfolio

The acquisition strengthens TSC’s portfolio in prolific matured mining jurisdictions across Australia. Following the acquisition completion, the Company now holds two substantial tenure groupings.

WA Archaean Gold Assets

The gold project portfolio covers three mineral projects-

Mt Dimer Project: The gold project comprises a mining lease M 77/515 and an exploration licence E77/2383 prospective for Archean gold.

Yarbu Project: The Yarbu gold project is stationed in the Marda Greenstone belt, almost 80 kilometres northwest of the Mt Dimer Project. Yarbu is an exploration licence, which is highly prospective for Archean gold deposits.

Rover Project: The wholly owned Rover Project is positioned in the vicinity of Sandstone in the area prolific for gold and base metals in the region prospective for Archean greenstone belts. The project stretches over 460 square kilometres over two linear Archean greenstones along ~160 kilometres. Historically underexplored so far, the area is currently experiencing a surge in exploration activities.

Must Read: Twenty Seven Co. Releases Preliminary Assay Results for Harmonic Gold Prospect

NSW Iron Oxide Copper Gold Assets

The Midas project is considered highly prospective for iron oxide copper gold (IOCG) deposits. The project sits almost 40 kilometres northeast of Broken Hill.

TSC owns a 33% stake in the Mundi Mundi Project (MMP) via a binding memorandum of understanding with Peel Far West Pty Ltd and privately held New Zinc Resources Pty Ltd. The Mundi Mundi project area is prospective for IOCG / Broken Hill Type lead-zinc-silver mineralisation comprising Twenty Seven’s Perseus tenement (EL8778) and additional grounds from both the partners (EL8877, EL8729).

The Trident Project is located almost 35 kilometres of Broken Hill and is considered highly prospective for IOCG.

TSC traded at $0.007 a share on 9 November 2020, up 16.666% from its last close, with a market capitalisation of $10.84 million.

(All financial information pertains to Australian Dollar unless stated otherwise.)

 

 


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