- Australian mining exploration company Twenty Seven Co. (TSC) has successfully raised $1.6 million through a share placement
- The placement was made through the issue of 245 million shares
- The company says the funds will be used to progress exploration at its Rover Project in the Goldfields.
- Twenty Seven Co. closed down 12.5 percent today, trading at 0.7 cents a piece.
Australian mining exploration company Twenty Seven Co. (TSC) has successfully raised $1.6 million through a share placement.
The company says the money from the 245 million share placement will be used to progress exploration at its Rover Project in WA’s Goldfields.
Just last month, TSC found gold grades exceeding 50 grams per tonne at the project which accelerated plans to begin the second drilling program, based on these results.
Funds will primarily target follow up reverse core drilling at the Creasy 1 gold and Harmonic VMS prospects;
A regional airborne electromagnetic (AEM) survey targeting Volcanogenic massive sulfide ore mineralisation;
And reverse core drilling of regional targets generated from the AEM, as well as other targets already identified by TSC.
Those drill targets are along the 20km prospective gold strike at Maynard Hills greenstone belt, as well as the Cook Well greenstone belt which runs parallel.
Twenty Seven Co. closed down 12.5 percent today, trading at 0.7 cents a piece.