TG1 Exploration update - Gold assays imminent

Published 05-SEP-2023 11:08 A.M.

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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.