High-grade shallow gold discovery at TSC’s Rover Project

Published 23-DEC-2019 09:51 A.M.


3 minute read

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TSC Limited (ASX: TSC) has announced a high-grade shallow gold discovery at its Rover Project in WA’s goldfields.

TSC reports more significant gold has been intersected at Creasy 1 to compliment the standout shallow, high-grade gold results already reported from the inaugural reverse circulation (RC) drilling campaign at the Creasy 1 prospect, within the Rover Project.

Rover Project relative to greenstone belt & select peers’ operations
Rover Project relative to greenstone belt & select peers’ operations

The Creasy 1 target comprises gold mineralisation located along the extensive Illara shear zone which forms part of the 20km prospective gold strike (a component of the Maynard Hills greenstone belt).

Importantly, the RC drilling campaign has confirmed the presence of shallow, high-grade gold at the Creasy 1 prospect that materially eclipses all historic drill results.

All drill-holes from Creasy 1 have now been assayed, with Creasy 2 assays still outstanding from the laboratory.

Six holes from the recent drilling have intersected gold >1g/t:

  • 19RVRC001 3m @ 14.8 g/t Au from 57m,
  • 19RVRC006 3m @ 20.1 g/t Au from 51m,
  • 19RVRC007 3m @ 4.0 g/t Au from 57m,
  • 19RVRC008 3m @ 3.1 g/t Au from 24m,
  • 19RVRC013 3m @ 1.5g/t Au from 36m, and
  • 19RVRC014 3m @ 3.3g/t Au from 102m

At Creasy 1 gold mineralisation has been intersected over 1.2 kilometres along strike. There appears to be high grade zones interspersed with lower grade areas, however, the anomalous gold > 0.1g/t is continuous along strike confirming the high prospectivity the Illara shear zone.

In addition, high gold and silver grades in 19RVRC008 were accompanied by anomalous base metals mineralisation, which indicates a potential volcanic massive sulphide (VMS) signature north of Creasy 1 at the newly named Harmonic prospect.

Gold mineralisation is open in all directions at Creasy 1 and Harmonic. Both prospects will be subject to further RC drilling in order to better define and expand the mineralisation.

CEO Ian Warland commented: “The teams new geological model is paying off, with TSC’s inaugural RC drilling campaign delivering outstanding results at Creasy 1: the discovery of shallow high-grade gold and potentially new VMS style mineralisation.

"The geology team now have substantial gold intersections to build on for follow up RC drilling campaigns in 2020 around Creasy 1, Harmonic and further along the 20km prospective gold strike to Creasy 2 and 3. Overall, the key takeaway from the inaugural drilling campaign is the Rover Project’s now demonstrable gold and VMS potential with significant exploration upside moving forward.”

Future drill testing will aim for better definition around high grade zones, down dip and along strike. Moreover, some of the more significant drill-holes are shown in cross sections A, B and C.

Following the completion of this campaign, TSC now has a full agenda moving into 2020, which include awaiting assays for the RC drilling completed at Creasy 2 to test the 200m long zinc-lead anomaly in soils / rock-chips within a broader copper-gold soil anomaly.

As coincident zinc copper-gold mineralisation is typically common in VMS systems, drilling will test for mineralisation underneath this anomaly.

Follow up RC drilling is planned for Q1 2020.

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

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