Twenty Seven Co Ltd (ASX:TSC) (FRA:U9V) has established a maiden inferred mineral resource estimate at Mt Dimer Gold-Silver Project in Western Australia of 722,000 tonnes at 2.10 g/t gold for 48,545 ounces of gold and 3.84 g/t silver for 89,011 ounces of silver.
The resource solidifies the company’s position in the highly prospective Southern Cross Goldfields District in WA and provides a strong foundation for future growth.
Planning for follow-up work programs is underway on the exploration licence which equals approximately 87% of the overall land package at Mt Dimer.
Solid platform to unlock value
Chief executive officer Simon Phillips said: “This initial resource validates the company’s recent exploration work and provides a solid platform to unlock further value from our portfolio of WA gold assets.
“Data generated from the complex JORC resource modelling, together with recently completed geochemical work, indicates that gold mineralisation may be unlocked from across the Mt Dimer tenement package, and we look forward to providing further updates on follow up work programs in due course.
“TSC is building an exciting pipeline of quality exploration assets and we look forward to systematically unlocking value for our shareholders.”
Twenty Seven Co said it remained confident that additional mineralisation may be defined outside of drilling completed to date either on the mining lease or the exploration licence to the west.
Hosted within quartz veins
The resource includes the low-grade near-surface laterite component, as well as the vein-hosted resource and splits into above and below 380mRL (surface approx 500mRL) using two different cut-offs to consider higher potential mining costs.
Mt Dimer, which remains open to the south and down dip with strong potential to extend the mineralisation along strike to the south, is hosted within quartz veins, which are themselves hosted within a sheared ultramafic of the Marda Greenstone Belt.
Drill hole database
The drill hole database created for the Mt Dimer region contains data for 656 individual holes.
A subset has been applied to the database for the estimation of Mt Dimer, whereby only drill holes with data that can be verified against historical records have been used.
The most recent drill holes by a previous explorer in 2017 and the 2021 reverse circulation holes drilled by TSC have also been used in the interpolation of the resource.
In total, two diamond drill holes for 308 metres and 90 reverse circulation drill holes for 10,787 metres have been used in the resource estimation.
The total meterage includes holes that have been drilled historically as well as holes that were drilled by a recent previous explorer in 2017 and TSC in 2021.