Twenty Seven Co Ltd (ASX:TSC) has conducted a site visit in an important first step to advance the newly acquired Mt Dimer project and conduct a surface sampling program, geological mapping and an aerial drone survey.
The company will now fast-track work with a focus on drill testing and potentially extending the known shallow high-grade mineralisation at the project in Western Australia.
Fresh assays up to 1.19 g/t gold in samples from the tailing storage facility (TSF) and 1.08 g/t gold in material from the HLP highlights an immediate potential source of gold and possible early cash flow generation.
Potential for mineralisation along strike
Chief executive officer Ian Warland said: “Excellent results from our inaugural field trip to the Mt Dimer Mining Lease, especially from the drone survey, will enable TSC to accurately define the limits of historical mining and readily design an optimal drilling campaign.
“Pleasingly, as previous work indicates there is potential for significant gold mineralisation under and along strike from the historical open cut, drilling approval applications have been lodged with the regulator.
“With around 84,000 tonnes of ore milled at Mt Dimer during the 1990s, there is the possibility to generate early-stage cash flow from the historical tailings storage facility and heap leach pad, though further work is required to determine the economic potential.”
The drone survey delivered an accurate view of the historical open pit, tailings storage facility (TFS) and heap leach pad, facilitating the 3D modelling and formulates plans for the inaugural drilling campaign.
Reverse circulation drilling approval applications have been lodged, with key targets focused around the historical open cut pit to test potential scalability and verify historical wide-economic intersections such as 19 metres at 3.38 g/t gold from 76 metres and 11 metres at 5.29 g/t gold from 81 metres.
TSC looks forward to providing further market updates over the coming weeks on the following priority tasks at the Mt Dimer Mining Lease:
- Updated 3D model of the historical drilling, geology, and open cut pit;
- Complete planning and receipt of regulatory approvals for an initial drilling program; and
- Follow-up sampling of mineralised material contained in the TSF / HLP, coupled with metallurgical test-work plus confirmation of volume and tonnage estimates.