TG1 adds five new gold targets next to $7.3BN Ramelius
Our exploration Investment TechGen Metals (ASX: TG1) just added five new priority gold drill targets at its WA gold project.
Dalgaranga is the gold project TG1 picked up in November last year, sitting ~8km from $7.3BN Ramelius Resources' processing plant.
TG1's ground adjoins Ramelius' Dalgaranga gold mine (2.87Moz @ 5.61g/t gold) and sits on the same Karbah Shear Zone that hosts the mine.
Dalgaranga is where Spartan Resources made its high grade Never Never and Pepper discoveries.
This was the find that took Spartan from a troubled explorer to a ~$2.5BN takeover by Ramelius.
Despite all of that, TG1's MD says the broader region has been "grossly under explored".
(source)
Dalgaranga had taken Gascoyne (which became Spartan Resources) to the point of bankruptcy twice until a new discovery was made ~50m away from the existing processing plant back in mid 2024.
Then Spartan rallied to a ~$2.5BN market cap to the point where Ramelius took over the company.
Past performance is not and should not be taken as an indication of future performance. Caution should be exercised in assessing past performance. This product, like all other financial products, is subject to market forces and unpredictable events that may adversely affect future performance.
We think there is still a lot of exploration that can happen in this part of WA and so we are looking forward to seeing what comes from TG1’s new ground (once the applications are granted and they can do further work).
This brings us to today's update on this project. TG1 flew a detailed airborne magnetic and radiometric survey across the project back in June.
Interpretation of that data has now come back, which has identified nine targets - five of them ranked Priority 1.
Plus none of the five Priority 1 targets have ever been drill tested.
Most sit along the Karbah Shear, and one is directly on top of the arsenic-gold anomaly TG1 found in its earlier soil and rock chip sampling.
(source)
The new targets add to the ones TG1 already had here, including the old Armstrong pit, which is where TG1 sampled rock chips up to 39.3g/t gold from the old waste dumps.
That pit was a small trial pit mined back in 1986 and has never been drill tested either.
TG1 is now working through the approvals process (tenement granting and heritage approvals), with 3D modelling of the priority targets continuing.
TG1 is hoping to be drilling the targets with a combination of aircore and RC “before the end of Q4 this year”. (source)
We covered the acquisition of this project back in November last year and not long after TG1 sampled gold at 39.3g/t at the project.
What we want to see next from TG1?
Drill WA copper-gold targets (Blue and Red Devil)
This is the recent drilling where the visuals from hole 1 didn’t show copper and hole 2 appeared to be related more to potential gold and base metals. (source)
So we await the assays to see what TG1 then has planned for the project, which could be inside the next few weeks as TG1 guided the assays for October.
Here are the milestones we are tracking:
- ✅ Drilling permits approved
- ✅ Rig contracts signed
- ✅ Rig mobilises to site
- ✅ Drilling starts at Red Devil
- ✅ Visuals from Red Devil
- ✅ Drilling starts at Blue Devil
- ✅ Visuals from Blue Devil - Red Devil (source)
- 🔲 Assay results from maiden drilling - Due October (source)
Advance the gold assets
We want to see TG1 drill out its two gold projects - first drilling this Dalgaranga project ~8km away from $7.3BN Ramelius Resources, and second, drilling the existing discovery in NSW through its JV partner.
Here are the milestones we are tracking:
- 🔄 Dalgaranga (WA) - licence applications still pending granting, magnetic survey results announced today (source)
- 🔲 John Bull (NSW, 30% interest) - drilling via farm-in partner (planned for H2-2026)
