- Metals explorer Twenty Seven Co. (TSC) has found gold grades exceeding 50 grams per tonne and its Rover project in W.A.
- The potential for a volcanic massive sulphide system has also been identified
- These discoveries were made during a reverse circulation drilling program at the project
- A second drilling campaign will be brought forward based on these results
- Despite the news, Twenty Seven Co.’s share price has fallen 20 per cent today
- Shares in the company are now trading for 0.8 cents each
Metals explorer Twenty Seven Co. (TSC) has found high grades of gold, reaching up to 51.2 grams per tonne, at its Rover project in Western Australia.
The shallow gold intercepts were identified during a reverse circulation (RC) drilling program at the project. So far, results have been received for seven out of 17 drill holes.
These “bonanza” grades were found at the Creasy 1 prospect, according to Twenty Seven Co.’s CEO, Ian Warland. Confirming the company has “discovered significant high-grade shallow gold mineralisation,” he said.
Additional drilling at the Creasy 2 and Harmonic prospects have displayed compelling results which suggest there’s a strong potential for a volcanic massive sulphide system at the project.
A target highlight from Creasy 2 included 1825 parts per million of zinc from the surface, and grades reaching 3020 parts per million of zinc from a three metre composite sample.
Follow up drilling will be brought forward based on these results, particularly influenced by the VMS potential.
“A second, more comprehensive, RC drilling campaign to further define the underlying gold and VMS mineralisation is planned,” Ian detailed in a release to the Australian market today.
Twenty Seven Co.’s share price closed at a 20 per cent loss today, with shares now trading for 0.8 cents each.