Twenty Seven Co Ltd (ASX:TSC) (FRA:U9V) has appointed Ausdrill to undertake a reverse circulation (RC) drilling campaign at the Mt Dimer Mining Lease in Western Australia, to test below and along strike of the existing open pit, clearing the way for drilling to start by mid-February 2021.
This maiden RC drilling campaign is designed to take two to three weeks, comprising 15 to 25 holes for up to 3,300 metres.
Work at Mt Dimer has been extremely limited, with only four drill-holes completed in the last 25 years. However, historical records indicate significant mineralisation is open at depth and along strike from the current open pit.
Drilling will focus on confirming and extending gold mineralisation, targeting priority areas around historical intercepts comprising:
- 5 metres at 10.64 g/t gold;
- 6 metres at 13.3 g/t; and
- 19 metres at 3.4 g/t.
Work to start in a timely manner
TSC’s newly appointed CEO Simon Phillips said: “With a drilling contractor now officially appointed for the Mt Dimer Mining Lease, our logistics team is working hard to ensure everything is ready for work to commence in a timely manner.
“Furthermore, with the gold price still around A$2,400/ounces, we are excited to be commencing a drilling campaign on a granted mining lease with known mineralisation apparent.
“TSC’s core objective with this first drilling campaign at Mt Dimer is to confirm and extend known gold mineralisation at depth and along strike.”
Mt Dimer Gold Project
Mt Dimer Gold Project comprises a mining lease (M77/515) and exploration license (E77/2383), around 100 kilometres north-east of Southern Cross.
The project comprises a historical open pit mine that produced around 8,500 ounces gold in the mid-1990s, to a depth of only 50 metres from the surface.
Next Steps
The company is planning to undertake some priority tasks, including:
- Starting of RC drilling campaign;
- First assay results from Mt Dimer;
- Completion of initial drilling campaign;
- Progressive release of remaining assay results; and
- Modelling of drilling data and planning for further activities.