New assays by exploration company Twenty Seven Co (ASX: TSC) have confirmed the presence of a large gold system at the Creasy 1 discovery within the Rover project in Western Australia.
Gold mineralisation at the discovery is believed to extend for approximately 1,500m along strike with significant results from a March drilling campaign building on earlier high-grade, shallow economic intercepts.
Better results included 3m at 1.2 grams per tonne gold from 80m; 3m at 2.3g/t gold from 71m; and 3m at 2.8g/t gold from 56m.
The highest grades – up to 1m at 51.2g/t from 54m – occurred in dilation zones and have reinforced the gold potential at Rover.
Twenty Seven chief executive officer Ian Warland acknowledged the benefit of further work to determine the full extent of the underlying mineralised system at a time when the Australian dollar gold price is at record highs.
“The standout prize [for us] has been finding shallow high-grade gold shoots, verifying that we have discovered an extensive gold mineralised system,” he said.
“There is still significant further exploratory work ahead across Creasy 1 and the Harmonic target [300m to the north] which will enable us to understand the overall gold potential at Rover.”
Earlier this month, the results of a targeted moving loop TEM survey over eight airborne electromagnetic anomalies identified in February confirmed “very strong” bedrock conductors consistent with volcanic massive sulphide mineralisation.
Twenty Seven classified the conductors as “compelling targets” and said they would be factored into future exploration work along the Maynard Hills greenstone belt.
“All eight surveyed lines confirmed the presence of strongly-conductive, discrete bedrock conductors that are typically expected from VMS-style mineralisation,” the company reported.
“The model geometries range from sub-vertical to moderately west dipping, which is consistent with the area’s underlying geology … encouragingly, all conductors are generally shallow, ranging from sub-cropping to 90m deep.”
Future drill testing will also focus on looking for repetitions and extensions to gold shoots along strike and down plunge.
The Creasy 1 prospect comprises gold mineralisation hosted in the Illara shear zone over a 1,500m strike length.
Follow-up drilling last month comprised 20 holes for 1752m across Creasy 1 and Harmonic.
The program focused on two areas where high grades were intersected up to 1m at 51g/t gold from 54m and 4m at 4.3g/t gold including 1m at 14g/t gold from 104m.
The highest grade intersection was 5m at 9g/t gold including 1m at 44g/t gold from 51m.
At midday, shares in Twenty Seven were trading 14.29% higher at $0.008.