Twenty Seven Co Ltd (ASX:TSC) (FRA:U9V) is off to an encouraging start at Mt Dimer with multiple high-grade results from the inaugural reverse circulation (RC) drilling campaign including up to 8.15 g/t gold and 26.9 g/t silver extending known mineralisation at relatively shallow depths.
The best intercepts from the first 10 drill-holes of the 26-hole program for 3,367 metres are:
- 7 metres at 3.19 g/t gold and 14 g/t silver from 106 metres including 3 metres at 6.5 g/t gold and 25.4 g/t silver from 106 metres;
- 1-metre at 8.15 g/t gold and 26.9 g/t silver and 0.604% lead and 0.622% zinc from 84 metres;
- 4 metres at 2.22 g/t gold from 160 metres; and
- 1-metre at 2.94 g/t gold and 5 g/t silver from 121 metres.
Assays from the remaining 16 drill holes are expected shortly and the company’s geology team is optimistic they will build positively on the findings received to date.
“Underpins potential for maiden resource”
As the results are ahead of expectations, TSC intends to start focusing on modelling up a JORC-compliant resource for the Mt Dimer mining lease.
TSC chief executive officer Simon Phillips said: “These assays from the Mt Dimer Mining Lease are extremely encouraging.
“Moreover, they complement historical results and extend known mineralisation significantly, which underpins the potential for a maiden resource.
“The board is optimistic the remaining assays and upcoming surface sampling campaign will build upon these encouraging results for the Mt Dimer Gold Project moving forward.”
Complements historical findings
Notably, these latest results are complementary to historical gold intercepts which include:
- 22 metres at 4.98 g/t gold from 37 metres, including 10 metres at 7.55 g/t from 44 metres;
- 19 metres at 3.42 g/t from 76 metres, including 4 metres at 12.95 g/t from 76 metres;
- 8 metres at 4.71 g/t from 72 metres;
- 7 metres at 3.72 g/t from 35 metres; and
- 7 metres at 3.95 g/t from 84 metres.
Cross Section showing historical results in white and recent results in yellow.
Ongoing exploration plans
The immediate priority is analysing then reporting on the remaining assay results which are expected back from the laboratory shortly.
Once these are received, then TSC’s geology team will commence work on modelling up a JORC-compliant resource.
The next phase of exploration for the Mt Dimer Gold Project is a comprehensive surface sampling program for the exploration licence immediately west of the mining lease which to identify any precious metal anomalisms.
This is scheduled to commence in April 2021.