TG1 geophysics underway at WA copper-gold-antimony target
Our micro cap exploration Investment TechGen Metals (ASX: TG1) just kicked off geophysical surveys going after copper-gold-antimony in WA.
TG1 will be running IP surveys over a ~1km x 1km area where rock chips have returned grades as high as 48.8g/t gold, 27.8% copper and 3.92% antimony.
TG1 expects the survey to take ~10 days with results due shortly after.
TG1 is going into this program with a market cap of ~$4.1M so any big targets TG1 can identify could be good for TG1’s share price in the short term.
What else is TG1 up to?
It has been a pretty rough ~12-24 months for all junior explorers on the ASX, especially with respect to raising money to fund high risk drilling.
TG1 has gone into a period of target generation works (which we think is the right thing to do when raising capital is hard).
Over that period TG1 has managed to define a big copper-gold target at another one of it’s WA projects (Blue Devil).
Here TG1 is going through the permitting process (heritage surveys/agreements).
We haven't got a timeline yet on when to expect drilling but we think that once timing is firmed up, the market will start to show an interest in TG1 again:
See our deep dive on that target here: TG1: Reveals new giant copper-gold drill targets at Blue Devil project
What are we watching out for in the short term?
TG1 just recently completed a ~85 hole, 6,355m aircore drilling program at one of its WA gold projects.
Results from that drilling program could come out any minute now.
IF TG1 finds anything of interest, it could follow up these results quickly with some RC drilling.
Because the drilling is shallow aircore drilling the main thing we want to see is TG1 confirm there is enough on its project to require RC drilling.
Ultimately, the aircore results will determine whether or not there is anything worth drilling with a higher powered RC drill program.
A success scenario here would be if TG1 can replicate discoveries similar to those in this part of WA.
Projects like Mayday North mine owned by $5.3BN Genesis Minerals and Penny’s find gold mine owned by $110M Horizon Minerals:
