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- Twenty Seven Co (TSC) has confirmed the Mt Dimer mining lease in WA has strong potential to contain a shallow, high-grade gold–silver system
- The company received the final batch of results from drilling completed in February
- Pleasingly, assays have returned grades of up to 23g/t gold and 29.2g/t silver
- When combined with historical data, Twenty Seven Co has enough drilling data to put together a JORC-compliant mineral resource for the Mt Dimer mining lease
- The company will now prioritise this alongside its soil sampling program at another part of the Mt Dimer Project
- TSC’s shares are up 8.33 per cent and trading at 0.7 cents
Twenty Seven Co (TSC) has received final assays from drilling at the Mt Dimer mining lease which is part of the Mt Dimer Project in WA.
TSC conducted a 26-hole drilling program in February, which extended gold and silver mineralisation, provided a better understanding of the mining lease and gave enough evidence for a potential mineral resource estimate.
The final 16 drill holes have returned pleasing results, confirming the Mt Dimer mining lease has great potential to be a shallow, high-grade gold–silver system.
Latest and best results include eight metres at 13.55g/t gold from 80 metres including four metres at 23g/t gold, six metres at 7.07g/t gold and 6.93g/t silver from 45 metres including one metre at 22.9g/t gold from 49 metres and one metre at 1.5g/t gold and 29.2g/t silver from 130 metres.
Encouragingly, these assays validate historical results including seven metres at 3.19g/t gold and 14g/t silver from 106 metres including three metres at 6.5g/t gold and 25.4g/t silver from 106 metres and one metre at 8.15g/t gold and 26.9g/t silver, o.6 per cent lead and 0.62 per cent zinc from 84 metres.
“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,” CEO Simon Phillips said.
“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,” he added.
Twenty Seven Co’s immediate priority is to complete a JORC-compliant mineral resource for Mt Dimer, while it progresses soil sampling over an exploration licence at the Mt Dimer Project.
Company shares are up 8.33 per cent and trading at 0.7 cents at 10:10 am AEST.
