TSC surges after identification of copper soil anomaly
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TSC Limited (ASX:TSC) has provided a promising update in relation to the current 2,000 metre reverse circulation drilling campaign underway at the Rover Project in Western Australia’s goldfields.
From a broader perspective, the drilling of shallow historic economic gold intercepts at Creasy 1 is progressing in line with expectations.
However, in an exciting development a new copper soil anomaly defined by portable XRF traverses just to the north of Creasy 1 and proximal to the sheared contact has been discovered and this will now be drill tested during the current program.
This news ignited the company’s share price in morning trading as it spiked 50% to match the previous 12 month high struck in August when the company announced that it had identified copper-gold VMS style mineralisation within the Rover Project.
Discussing the definition of a new copper soil anomaly, along with early commentary on the current drilling program, chief executive Ian Warland said, “The drilling team are making solid progress, and with five holes now complete at Creasy 1 we are 25% through the current campaign.
‘’The first batch of samples have already been dispatched to the laboratory, which should be turned around shortly.
‘’In an exciting development, the geology team outlined a new copper anomaly just north of Creasy 1 following recent portable XRF soil traverses.
‘’As this part of Creasy 1 has never been subject to drilling, we plan to test this new target area as part of the current program.”
The predetermined priority areas (see below) for drilling were along the 20 kilometre gold strike (part of the Maynard Hills greenstone belt) on the eastern boundary including Creasy 1, and 20 kilometres south of Creasy 1 at Creasy 2 where the objective is to test new gold/VMS targets.
Initial drilling aims to confirm the presence of gold mineralisation at Creasy 1 before progressively testing for potential down dip and along strike mineralisation.