TG1 Exploration update - Gold assays imminent
Our exploration Investment, Techgen Metals (ASX: TG1), just put out an exploration update across its project portfolio.
Here are our key takeaways from today’s announcement:
- TG1 has ranked drill targets at its Station Creek copper project:
Off the back of a recent field trip to its Station Creek project, TG1 picked up four rock chip samples, which returned copper grades up to 27.7%, gold grades up to 6.64g/t and silver grades up to 145g/t.
The samples were taken from an area right next to TG1’s neighbour Norwest Minerals copper targets, here is where Norwest sits compared to where TG1 picked up its samples.
- EM target at its Cyclops nickel-copper-PGE project:
TG1 did some rock chip sampling over its high-priority EM target at Cyclops - the positive from the rock chip sampling is that it is showing nickel grades over the target.
Here is how that target looks:
- Assays from TG1's NSW gold project is now days away
TG1 also updated the market on the latest from John Bull in NSW.
TG1 recently completed a 10-hole RC drill program for ~1,363m of drilling.
TG1 expects the assay results from the program to be ready in the coming week - which means it could drop any day now.
We have set up our expectations for the results as follows:
- Bull case = TG1 proves continuity in its discovery to the north/south or at depth with intercepts >10m and gold grades >1g/t.
- Base case = TG1 proves continuity in its discovery to the north/south or at depth with intercepts <10m and gold grades >1g/t.
- Bear case = TG1 hits no significant mineralisation to the north/south or at the depth of its discovery.
TG1 also mentioned that stage 3 permitting is ongoing. TG1’s plan for the next phase of drilling is to target the 10g/t gold soil anomaly to the north and the monzonite structure to the south.
What’s next for TG1?
Drilling results from John Bull gold project in NSW 🔄
TG1 completed its drill program on July 6 and assays are now pending.