FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Twenty Seven Co hits gold anomalies at Mt Dimer

13 May 2021
Rueben Hale
Yellow dump truck loading minerals copper, silver, gold, and other at mining quarry.

ASX-listed and Perth-based gold explorer Twenty Seven Co has identified three gold-in-soil anomalies at its 100 per cent-owned Mt Dimer Project, spurring optimism of discovering further mineralisation.

The company today said its first soil geochemical programme identified the anomalies outside of known mineralisation. Of the three discovered, two are higher-priority targets and appear to correlate with mapped and interpreted shear zones and geological contacts.

The largest is about 800m in strike length and up to 500m in width.

Commenting on the discovery, CEO Simon Phillips said: We are very pleased with the indications from the first ever systematic geochemical sampling programme to be completed over the Mt Dimer Exploration Licence.”

“Encouragingly, the gold in the soil anomalies we have identified appears to coincide with other geological units that are known to host mineralisation within the region.

“Given the distribution of gold throughout the Mt Dimer Project area, our geological team is very optimistic about the potential for further mineralisation to be identified over this exploration licence.”

The company’s next step is to follow up with an infill sampling programme and regional geological mapping.

Founded in 2018 after acquiring Nomad Exploration along with several highly prospective exploration projects in Australia, Twenty Seven’s main assets comprise its Western Australia Archaean Gold assets – inclusive of Mt Dimer to the north-east of Southern Cross – and New South Wales Iron Oxide Copper Gold assets.

Its Mt Dimer Project consists of two tenements: the Mt Dimer Mining Licence M77/515 and Exploration Licence E77/2383. Mt Dimer remains largely underexplored by modern geochemical techniques and early indications demonstrate the potential for undercover gold mineralisation within its tenements.

Maiden reverse circulation drilling recently completed at M77/515 has identified shallow, high-grade mineralisation, including up to 23 grammes per tonne gold and 33 grammes per tonne silver.

Soil sampling on E77/2383.

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!