TG1 drilling for gold in NSW right now
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Our junior exploration Investment TechGen Metals (ASX: TG1) has just kicked off its second round of drilling at its NSW gold project.
TG1 is drilling a total of 11 holes split 10 RC one diamond drillhole.
Ultimately TG1 is looking to test for extensions to its existing gold discovery to the north, south and at depth.
To date, TG1’s project has only ever seen 7 drillholes completed.
With this second phase of drilling TG1 will be following up on all of the geochemical sampling done over the last ~6-9 months with specific focus on the north/south of the existing discovery holes.
With the geochemical sampling programs TG1 picked up gold in soils with grades as high as 10g/t - gold in soils is typically a good indicator that there may be more gold at depth.
Below we can see where TG1 is planning to drill - to the north-south of its existing discovery:
What’s next for TG1?
Permitting for third stage of drilling 🔄
We also noticed that in today’s announcement TG1 has started permitting for a 3rd stage of drilling.
TG1’s current drill permits were received well before any of the soil sampling results came in so the permits dont cover the areas to the far south or far north.
Typically when companies are looking to fast track permitting for additional drilling it is a sign of confidence from the management team so its always good to see the permitting well ahead of this current round of drillings results.
Drilling results from John Bull gold project in NSW 🔄
Going into the drill program we have set up our Bull, Base, and Bear case expectations as follows:
- Bull case = TG1 proves continuity in its discovery to the north/south or at depth with intercepts >10m and gold grades over 1g/t.
- Base case = TG1 proves continuity in its discovery to the north/south or at depth with intercepts <10m and gold grades over 1g/t.
- Bear case = TG1 hits no significant mineralisation to the north/south or at depth of its discovery.