Twenty Seven Co Ltd has completed its latest soil sampling program at the Rover Gold Project in WA.
The announcement drove its share price 20% higher in moring trading.
TSC’s 100%-owned Rover project is near Sandstone in a base metals and gold mineral-rich area associated with Archean greenstone belts.
Rover is a large, underexplored 460 square kilometre tenure package covering two linear Archean greenstones, with a combined length of around 160 kilometres.
Soil sampling took place to the north of the project area, along strike from TSC’s Middle Well Prospect.
Middle Well is a cluster of four anomalies extending over 1.2 kilometres of strike with the individual features having peak values of 42.9 ppb gold, 32 ppb gold, 11 ppb gold and 11 ppb gold, respectively.
TSC looks to identify gold-in-soil anomalism
TSC took a total of 243 samples as part of the first-pass soil program.
The aim of sampling is to identify further gold-in-soil anomalism and any related alteration signatures, that will complement the strong gold-in-soil anomalisms already identified at the Harmonic (NASDAQ:HLIT), Creasy 1, Blue Hills and Four Corners prospects.
Read: Twenty Seven Co targets large gold anomalies with new drilling campaign at Rover Project
All soil samples will be delivered to a laboratory in Perth for full multi-element analysis.
Once analysis is complete, they will be incorporated into Rover’s extensive geochemical database, ahead of a full review of all available project data.
Drilling at the Rover Gold Project has been delayed due to a mechanical issue with the drill rig.
However, TSC has said the drill program will kick off as soon as possible following rig repair and re-mobilisation to site.
The delay is not expected to have a material effect on TSC’s overall plan for the current drilling campaign.