Twenty Seven Co. (ASX:TSC) Strengthening Position in Archean Greenstone Belt

Summary

  • Twenty Seven Co. owns critical exploration and advanced-stage projects across Western Australia and New South Wales, focusing on generating value for its shareholders.
  • For the Mt Dimer Project, a key priority for 2021, the Company is fast-tracking a drilling program and seeking approvals to commence work.
  • The Yarbu Project holds known gold anomalies that provide focus areas along the Clampton Fault zone.
  • Assay results from the October 2020 RC drilling at the Rover Project have reaffirmed strong potential for the Harmonic prospect.

Australian explorer Twenty Seven Co. Limited (ASX:TSC) has several highly prospective projects, including the Archaean gold assets in Western Australia and the iron oxide copper-gold assets in New South Wales.

Since its establishment in 2018, the Company has strengthened foothold across its gold & base metal projects in premium mining neighbourhoods. With strong interest in the Western Australian gold projects, the Company in November 2020 acquired the advanced Mt Dimer (mining lease) and Yarbu Projects. Additionally, it acquired the Trident prospect, near Broken Hill in New South Wales.

Archaean Gold Assets in Western Australia

Mt Dimer Project - The Mt Dimer Gold Project includes a mining lease (M 77/515) hosting an open-cut historical mining centre and an adjacent exploration tenement (E77/2383). The project is 200km from Southern Cross in WA’s goldfields and south of the Rover Project.

It lies within the southern extent of the Archaean Diemals-Marda Greenstone Belt of the Yilgarn Block in Western Australia. The tenement hosts the historical mining centre, which produced ~8,500 ounces of gold. The open pit was mined to a depth of 50m, extracting 77,000 tonnes of ore at a grade of 3.44 g/t gold.

Over the past three decades, the eastern goldfields have attracted more dollars within WA, while the central Yilgarn remained largely overlooked. Even the shallow gold mineralisation has not been systematically explored, thus enhancing the opportunity in deeper sections.

A review of historical drilling and open-cut pit has outlined potential for a south plunging gold shoot continuing beneath the base of the pit. The potential shoot in the north-south long section indicates that the gold mineralisation plunges below the current pit and remains open at depth.

After identifying a substantial opportunity, Twenty Seven plans a systematic exploration and development program at Mt Dimer.

Good Read: Twenty Seven Co. (ASX:TSC) in High Spirits After Concluding Inaugural Field Trip to Mt Dimer

Yarbu Gold ProjectThe Yarbu Gold Project located on the Marda Greenstone belt is almost 80km northwest of the Mt Dimer Project. The tenement is considered highly prospective for Archean gold deposits. The project area includes known-gold anomalies and is in close proximity to the Marda Gold Project, operated by Ramelius Resources (ASX: RMS).

The Marda Gold Project holds a JORC 2012 mineral resource of 280,000 ounces across nine deposits. The Clampton Fault is a regional geological structure, running through the western side and is associated to the Clampton Mine, which produced 7,800oz gold (9,534t @ 25.4g/t Au) during 1933-50. The Andromeda Gold Prospect, ~1km from the Yarbu tenement, intercepted gold mineralisation, including 16m with 1.1g/t gold and 7m with 2.4 g/t gold.

The Yarbu prospect has been subject to minimal drilling, targeting the Clampton Fault and intersecting highly encouraging results, including 1m @ 1.1g/t Au and 1m @ 0.56g/t Au. Clampton Fault remains a priority target area within the Yarbu prospect.

Also Read: Twenty Seven Co. (ASX:TSC) Acquires Mt Dimer, Trident and Yarbu Projects

Rover Project - Twenty Seven’s Rover Project is located ~30km east of Sandstone, a gold-and-base-metals rich region that is highly prospective for Archean gold in the Central Yilgarn Craton. The grant of the exploration licence EL57/1134 has extended the Rover Project to three tenements covering ~461km2. The company now enjoys a sizeable footprint, covering substantial areas of the Maynard Hills and Cook Well greenstone belts.

The project is stationed in the matured mining neighbourhood with existing supportive mining infrastructure. The Sandstone greenstone belt is an established mining zone with historical production of nearly 1.3 million ounces of gold. The Rover Project may further benefit from the presence of established gold beneficiation plants that may resume operations within the region in the future.

During the initial 12-month project life, Twenty Seven discovered high-grade near-surface gold mineralisation at the Harmonic and Creasy 1 deposits, demonstrating the substantial potential for volcanic massive sulphide (VMS) mineralisation.

Recent RC Drill Program at the Rover Project

Assay results from the October 2020 RC drilling program have outlined new broad intercepts of gold mineralisation at the Harmonic gold prospect. Three drill holes intersected either surface or near-surface broad gold mineralisation intercepts, including-

  • 20RVRC057 - 18m with 1.0g/t Au from 5m including 3m with 5.4g/t Au
  • 20RVRC054 - 17m with 1.0g/t Au from surface including 3m with 2.1g/t Au
  • 20RVRC062 - 8m with 1.1g/t Au from surface including 2m with 2.8g/t Au

Must Read: Twenty Seven Co. (ASX:TSC) Reveals Impressive Assay Results from Harmonic Prospect

The 33-drill-hole campaign was designed to follow up the previous significant results. It focused on testing new gold prospects at the project, following on from the recently concluded auger drilling program and geochemical studies.

  • Harmonic – The prospective target area has been tripled to ~650m by the discovery of a 1.77 g/t gold rock chip, almost 400m north-west of the nearest RC drill holes.
  • Creasy 1 – The historical drilling program intersected over 15m at a grade of 3.8 g/t gold from 49m including 1m with 54 g/t gold.
  • Maynard Intrusion – The gold anomalies coincide with a favourable trap site, interpreted as an area with potential high-fluid flow on the southern end of the intrusion.
  • Red Bush – An extremely strong 600m-long gold anomaly was supported by rock chips with grades up to 0.6g/t Au.

TSC traded at $0.006 a share on 7 December 2020 (AEDT 02:45 PM), with a market capitalisation of $12.71 million.

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