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Final AEM results identify 27 conductors at the Rover Project

airborne electromagnetic (AEM)

TSC Limited (“TSC” or “the Company”) is delighted to announce that its recently completed airborne electromagnetic (AEM) survey has identified 27 conductors from the final processed data within the southern half of the Rover Project. The vast majority of the conductors are situated along the 20km long prospective gold strike that is part of the Maynard Hills greenstone belt (Figure 1). 

Figure 1: Rover Project relative to greenstone belt & select peers’ operations

Highlights:

  • Analysis by TSC’s consultant geophysicist analysis of final airborne electromagnetic (AEM) data collected in early March has identified a substantial 27 conductors, up from 13 at the preliminary stage 
  • The AEM survey was designed to detect potential base metals targets (conductors) associated with volcanic massive sulphide (VMS) mineralisation  
  • Notably, 25 conductors are located along a 15km stretch of the Maynard Hills greenstone belt, summarised as follows: 
  • Two conductors are situated to the west of the Creasy 1 gold prospect;  
  • Four conductors are situated at the Creasy 2 VMS prospect;  
  • Five conductors are situated near the Creasy 3 prospect;  
  • Five conductors cover a 600m strike at the newly discovered Red Bush prospect; and 
  • Nine conductors are situated to the southeast of Red Bush, six of which are coincident with a gold target identified last year 
  • Currently, a field team is conducting ground electromagnetic (GEM) surveys over the most promising AEM conductors to better define future drill targets – results will be forthcoming shortly after the program concludes  
  • The second RC drilling campaign has been successfully concluded at the Creasy 1 Gold and Harmonic VMS prospects, with initial assay results expected shortly 
  • The Company has been constantly monitoring and responding to the COVID-19 pandemic and is in a strong cash position to advance the Rover Project in 2020

CEO Ian Warland commented: “Without doubt, the final AEM survey results have significantly surpassed expectations, with a substantial 27 conductors to follow up at the Rover Project. To maintain exploration momentum, TSC has contracted a GEM crew to survey the most promising AEM conductors so that high-quality test-drill targets can be finalised for future drilling campaigns. With the second RC drilling program complete, TSC is now eagerly awaiting assays and GEM results which will determine next steps.” 

HIGHLY ENCOURAGING FINAL AEM SURVEY RESULTS

The final data from the AEM survey, facilitated by New Resolution Geophysics’ advanced Xcite system, has now been analysed by TSC’s consultant geophysicist. This has resulted in an additional 14 AEM conductors being identified, taking the total to a substantial 27. Notably, 25 conductors are located along a 15km stretch of the Maynard Hills greenstone belt, one conductor is located on the Cook Well greenstone belt and one is located in granitic rocks between the greenstone belts (Figure 2).

Figure 2: AEM results over channel 15 and TSC targets

The bulk of the conductors have been grouped into five areas sequentially from north to south, including:

  • Two conductors west of Creasy 1 gold prospect;
  • Four conductors at Creasy 2 VMS prospect;
  • Five conductors near Creasy 3 prospect;
  • Five conductors covering a 600m strike at the newly discovered Red Bush prospect; and
  • Nine conductors southeast of Red Bush, with six coincident to a gold target identified in
  • a geophysics study last year.

Significantly, during processing of the final data seven additional conductors were identified southeast of Red Bush along the Maynard Hills greenstone belt. This exciting development provides extensive additional exploration upside to an area that is mostly under shallow cover and poorly explored.

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