Twenty Seven Co Ltd’s (ASX:TSC) (FRA:U9V) final assays from a February 2021 drilling campaign verify the integrity of legacy data and confirm the Mt Dimer Mining Lease is a possible shallow, high-grade gold-silver system.
The company's shares are up 33% to 0.8 cents today after the results of up to 23 g/t gold and 33 g/t silver.
Assays from the final 16 holes from the campaign have delivered further shallow, high-grade results with best intercepts comprising:
- 8 metres at 13.55 g/t gold from 80 metres including 4 metres at 23 g/t from 80 metres;
- 6 metres at 7.07 g/t gold and 6.93 g/t silver from 45 metres including 1-metre at 22.90 g/t gold from 49 metres
- 1-metre at 6.93 g/t gold and 16.5 g/t silver from 111 metres;
- 14 metres at 0.53 g/t gold and 1.56 g/t silver from 14 metres;
- 17 metres at 0.16 g/t gold from 29 metres;
- 1-metre at 2.75 g/t gold and 9.9 g/t silver from 145 metres; and
- 1-metre at 1.5 g/t gold and 29.2 g/t silver from 130 metres.
“Potential shallow high-grade system”
Bundling fresh and historical data, the company’s geology team has confirmed there is now ample data to expedite the modelling of a JORC-compliant resource for the Mt Dimer mining lease.
TSC chief executive officer Simon Phillips said: “Assessing the assays holistically verifies the integrity of legacy data and delivers clear evidence the Mt Dimer mining lease is a possible shallow, high-grade gold-silver system.
“As such, the board’s next goal is to have the geology team model up a JORC-compliant resource which will determine next steps for the Mt Dimer mining lease.
"Further, to continue building forward momentum, TSC’s geology team is now assessing the gold-silver potential of the Mt Dimer exploration lease.”
Cross section showing historical results in white and recent results in yellow.
Results validate historical data
Notably, the fresh assays extend known mineralisation and validate legacy results that include :
- 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 0.60% lead and 0.62% zinc from 84 metres;
- 4 metres at 2.22 g/t gold from 160 metres;
- 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 gold from 76 metres including 4 metres at 12.95 g/t from 76 metres;
- 8 metres at 4.71 g/t gold from 72 metres;
- 7 metres at 3.72 g/t gold from 35 metres; and
- 7 metres at 3.95 g/t gold from 84 metres.
Ongoing exploration and next steps
With the assays now complete, the immediate priority is for the geology team to digest the results then commence building up a JORC-compliant resource.
In addition, a comprehensive soil sampling program over the adjacent exploration licence to the west of the mining lease is underway to identify incremental targets for drill testing.