TSC prepares for aggressive exploration program in 2020
Published 13-JAN-2020 11:14 A.M.
3 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
TSC Limited (ASX:TSC) has reported that standout shallow gold grades up to 51.2 g/t gold were returned from 1 metre assays for seven reverse circulation drill-holes re-assayed to date.
The upshot, from drilling down to 1 metre sample resolutions is generating a material increase in gold grade that indicates the potential for multiple narrow high-grade gold veins within the Illara shear zone.
Further, assay results for the two RC drill holes at Creasy 2 confirmed strong potential for volcanogenic massive sulphide (VMS) style mineralisation, with drill-hole 19RVRC016 intersecting a wide zone of highly anomalous zinc from surface.
Creasy 2 is one of the original nine high-priority VMS targets identified in the aero-magnetics study.
From a geological perspective, the prospect is a copper-gold-zinc soil anomaly coincident with a 200 metre long zinc-lead gossan within BIF and mafic schist.
Rock chips from the gossan that returned up to 2,900ppm zinc and 3,700ppm lead (RVR069), are a significant 600 metres to the south along strike from the gossan rock chip RVR041 – which returned anomalous zinc up to 1,560ppm indicating an anomalous strike length of more than 600 metres.
TSC builds on previous success
The following provides a snapshot of recent results received from Creasy 1, Harmonic and Creasy 2.
Creasy 1 mineralisation traverses 1.2 kilometre strike length
Examining the results in more detail, the Creasy 1 target comprises gold mineralisation along the extensive Illara shear zone which forms part of the 20 kilometre prospective gold strike which is a component of the Maynard Hills greenstone belt.
From a geological perspective, the Illara shear is between a prominent outcropping quartzite ridge in the east and a package of mafics / metasediments / BIF.
This is indicated on the following map.
The new 1 metre samples indicate gold mineralisation at Creasy 1 has been intersected over 1.2 kilometres along strike.
2020 exploration program
Future drill testing at Creasy 1 will aim for better definition around high-grade zones, down dip and along strike.
In October 2019, an expert study of detailed aero-magnetics that was reconciled with historic exploration, identified nine high-priority VMS targets on the Maynard Hills greenstone belt.
In addition, the December RC drilling campaign intersected potential VMS mineralisation at the Harmonic prospect including the aforementioned 15 metres at 1.4 g/t gold.
Harmonic was discovered by drill testing a portable XRF copper soil anomaly, and its mineralisation is open in all directions as indicated below.
Follow-up RC drilling is planned to test along strike and down dip of known mineralisation.
TSC also plans follow up work at Creasy 2, with potential ground geophysics to identify massive sulphide VMS style mineralisation along the length of the target area.
Discussing the company’s broader exploration strategy, chief executive Ian Warland said, ‘’TSC is highly encouraged by the assay results and intends to fast-track follow-up drilling to further test priority gold/VMS targets.
‘’Concurrently, the geology team are assessing the wider area beyond Creasy 1-3 and Harmonic prospects to develop a longer-term pipeline of areas for priority exploration.’’
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.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.