TG1 - drilling completed on second copper-gold target
Our exploration Investment TechGen Metals (ASX: TG1) just finished drilling the second set of copper-gold targets it had in WA.
For context - TG1’s been building up toward drilling these targets for over 24 months.
A few weeks ago, TG1 drilled its first target (Red Devil) which unfortunately hit no copper mineralisation (though assays are pending for gold from that hole).
Today, TG1 completed drilling on its other target (Blue Devil) where it looks like the type of rocks intercepted weren’t the ones we would have liked to see when going for a big new copper discovery.
“Graphitic shales” where the EM conductors were explaining those big giant blobs.
With big geophysical targets (like the ones TG1 drilled), there is always a chance they are explained by graphitic shales (usually containing no copper).
The more positive scenario is when drilling intersects sulphides which are the typical host rock for copper mineralisation.
Unfortunately for TG1, it looks like most of the hole was made up of “graphitic” black shales.
Though we did notice TG1’s Managing Directors comments on some potential sulphide bearing zones:
(source)
He also said that the style of mineralisation could be consistent with a potential “intrusive related gold system” - so no copper discovery (yet), but maybe TG1’s found some sort of gold structure?
(source)
At this stage there are no assays from either of the two prospects yet - assays are expected back in October - so we will know more than…
TG1’s other projects
While we wait for assays, here is a quick overview of the other assets TG1 has in its Portfolio.
Over the next few months (unless the assays from the copper-gold projects really surprise to the upside) we expect to see TG1 focus more of its work on one of these.
Dalgaranga (gold, WA)
TG1's ground sits ~8km from $7.4BN Ramelius Resources' Dalgaranga processing plant, on the same Karbah Shear Zone that hosts the mine.
TG1 found an old unmapped open pit on the project last year and sampled rock chips from the waste dumps up to 39.3g/t gold.
The tenements are still in application, so TG1 is waiting on them being granted before it can drill, with aircore and RC drilling of the old pit planned for Q4 this year.
(Source)
John Bull (gold in NSW)
TG1 holds a 30% interest in this project, which is being advanced by a farm-in partner.
Previous drilling hit 68m @ 1.0g/t gold from surface (including 23m @ 2.02g/t), and a 15 hole RC step out program is planned for Q4 this year.
TG1 says positive results here could lead to a maiden JORC resource.
El Donna (gold in WA)
A collection of historic gold targets near Kalgoorlie that were never properly followed up, with old hits like 2m @ 17g/t gold from 36m.
TG1 has a 12 hole RC program planned here for October, so this is likely the next project to see a drill rig.
Mt Boggola (copper-gold-antimony, WA)
TG1 drilled three holes here earlier this year, testing the big IP targets where old Newcrest holes had narrowly missed.
The deeper parts of those holes came back mostly as pyrite, but the shallow RC sections hit 20m @ 1.14% copper from 22m and 4m @ 1.04% copper from 9m.
TG1's follow up plan is RC drilling along strike and down dip from those near surface copper hits, plus the adjacent Sadlers prospect where Newcrest hit 9m @ 1.86% copper in the 1990s.
Drilling here was cut short early due to a cyclone earlier in the year here..
(source)
You can see the presentation slide here for some more details
What we want to see next from TG1?
Drill WA copper-gold targets (Blue and Red Devil)
In the short term it's all attention on TG1’s next drill program at Blue Devil.
Given TG1’s drilling with a diamond rig, there is always a chance TG1 announces visuals from the hole (assuming there is anything to announce).
That could be inside the next few weeks - with assays to come after.
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 Today (source)
- 🔲 Assay results from maiden drilling
Advance the gold assets
We also want to see TG1 drill out its two gold projects - first drilling the project ~8km away from $7.4BN Ramelius Resources and second the existing discovery in NSW through its JV partner.
Here are the milestones we are tracking:
- 🔲 Dalgaranga (WA) - licence applications still pending grant; soil sampling underway.
- 🔲 John Bull (NSW, 30% interest) - drilling via farm-in partner (planned for H2-2026)
