TG1 kicks off first ever geophysical survey at copper project
Our micro cap exploration Investment TechGen Metals (ASX: TG1) just started geophysics at its WA copper project.
TG1’s geophysical surveys will be the first ever survey at its Sally Downs copper asset in the Kimberly region, WA.
TG1’s project is relatively close to the Savannah Nickel and Copper Mine BUT has never been drilled or had any geophysics completed on it.
At this stage, the target areas are defined by rock chip sampling where copper grades have been up to ~2.3%.
With this round of work, TG1 is going for a complete greenfields discovery - exploring in a part of WA that has seen very minimal work before.
That type of exploration is high risk high reward which we dont mind seeing from our small cap exploration Investments.
TG1 also expects to kick off geophysical surveys on its other copper projects in ~4-6 weeks time.
By the end of the program’s we are hoping TG1 has a portfolio of drill targets - colourful geophysical blobs that look interesting enough to drill.
🎓 Learn more about geophysical surveys here: Electromagnetic (EM) Surveys Explained
TG1 also drilling its gold project right now:
A few days ago TG1 completed a drill program at its Ida Valley gold project in WA.
TG1 drilled a total of 9 holes along a ~1.5km long soil anomaly where the company recently hit a 4m thick intercept with a gold grade of ~6.73g/t.
We covered that news in a Quick Take here: TG1 finished gold drilling in WA
Below are our expectations for the assay results which are pending from that program:
As a result our bull,base & bear case expectations for the drill program are as follows:
- Bull case = Extensions to the 4m intercept with gold grades above 2g/t
- Base case = Extensions to the 4m intercept with gold grades between 1g/t and 2g/t.
- Bear case = No extensions or gold grades <1g/t.
With assay results pending, the key risk in the short term is “Exploration risk”:
Exploration risk
TG1 has made a gold discovery at its NSW gold project but is yet to define an in-ground JORC resource. Most of TG1’s other projects are still pre-discovery. As a result we think exploration risk remains a key risk for TG1.
Source: “What could go wrong?” Section - Investment Memo 27th April 2023
What’s Next for TG1?
- 🔄 Drill results from TG1’s Ida Valley gold project
- 🔄 Geophysics to start on WA copper projects
