NSW gold project drilling completed - Assays pending
This morning our micro cap exploration Investment TechGen Metals (ASX: TG1) completed its maiden drilling program at its newly acquired NSW gold project.
TG1’s drilling program involved seven RC drillholes over ~887 metres.
Importantly, drilling intersected quartz veining varying from 1 to 40% - which is a positive sign the company may be onto something here.
TG1’s drilling program was primarily targeting the geophysical anomaly located right beneath rock chip samples grading as high as 18g/t gold and right below a surface trench where gold mineralisation averaged 1.2g/t over ~160m.
TG1’s drilling program marks the first time these targets are being tested at depth. Assays are expected to be received in September.
In our last TG1 note, we set up some expectations for what we wanted to see from this drilling program, especially considering the drilling program would be the first time this project has been drilled.
Our expectations are as follows:
- Bullish case: TG1 intercepts high grade gold mineralisation. Grades >2g/t gold.
- Base case: TG1 finds enough gold mineralisation to warrant follow up drilling.
- Bearish case: TG1 hits nothing - finds no gold.
