Twenty Seven Co Ltd (ASX:TSC) has made rapid progress with a reverse circulation (RC ) drilling campaign at Mt Dimer Mining Lease in WA as favourable ground conditions coupled with efficient drilling crew helped expedite work.
Around 1,500 metres out of a 3,300 metres target has been drilled and the program is comfortably ahead of schedule.
Some 850 samples have been bagged and dispatched to the laboratory to test for gold-silver mineralisation.
Based on the current daily drilling rate of 280 metres, the company is hopeful that the campaign should conclude in 6-8 days.
Using historic and current data available, TSC’s geology consultants will then begin working on modelling a JORC-compliant resource.
“Making outstanding progress”
TSC CEO Simon Phillip said: “Excellent conditions have enabled TSC’s drilling team at the Mt Dimer Mining Lease to make outstanding progress.
“The campaign should be concluded within 6-8 days, with assays following shortly thereafter.
“TSC’s geology consultants should then have sufficient high-confidence data to commence proving up a JORC-compliant resource.”
Next steps and news flow
The company’s next steps at Mt Dimer include:
- Completion of drilling campaign;
- Releasing assay results as they become available; and
- Progress JORC-compliant resource modelling using available drilling data and planning the next phase of exploration.
Plans for other properties
Concurrently, the company’s geology consultants are formulating exploration plans for its other WA Goldfield properties.
At the Mt Dimer Exploration Licence, the company is undertaking a comprehensive review of this area adjacent to Mt Dimer Mining Lease to determine its potential.
A soil sampling campaign is planned at Yarbu Gold Project to assess the exploration potential along 5 kilometres of the Clampton Fault.
At the Rover Gold Project, fresh drilling targets will be formulated based on extensive geochemical results for the Blue Hills, Four Corners and Middle Well prospects.
In addition, TSC also plans further follow-up drilling at Creasy and Harmonic prospects where significant mineralisation has already been identified.