TG1 picks up gold project next to $6BN Ramelius Resources
Our $10M capped micro cap explorer TechGen Metals (ASX: TG1) just picked up a new project next to $6BN Ramelius Resources.
The licence applications are just 8km from Ramelius Resources’ Dalgaranga processing plant…
TG1’s projects are all in the application stage right now.
Once granted it would make TG1 the second biggest landholder in this part of WA (second to Ramelius).
(Source)
Anyone who has been following Ramelius will already know, but this is actually the old Gascoyne Resources ground (which became Spartan Resources).
Dalgaranga had taken Gascoyne to the point of bankruptcy twice until a new discovery was made ~50m away from the existing processing plant back in mid 2024.
Then Spartan rallied to a ~$2.5BN market cap to the point where Ramelius took over the company.
Past performance is not and should not be taken as an indication of future performance. Caution should be exercised in assessing past performance. This product, like all other financial products, is subject to market forces and unpredictable events that may adversely affect future performance.
There is no guarantee that TG1 will achieve the same success as Spartan.
We think there is still a lot of exploration that can happen in this part of WA and so we are looking forward to seeing what comes from TG1’s new ground (once the applications are granted).
TG1 has two projects that it wants to drill this quarter:
- Blue Devil (Copper-gold-silver) - this is the project that today’s announcement relates to. Here, TG1 has 3 main targets now. See our deep dive on this project here.
- Mount Boggola (Copper-gold-antimony) - Here, TG1 has 4 targets and plans to drill the project as soon as this year. See our deep dive on this project here.
What’s next for TG1?
Heritage surveys on Blue Devil (Copper-gold-silver) 🔄
TG1 is awaiting the final report from a heritage survey which it expects to receive soon, this survey was completed last quarter.
Heritage surveys on Mount Boggola (Copper-gold-antimony) 🔄
TG1 was expected to begin a heritage survey last week, once completed and approved this will allow drilling permits to be approved and the drilling to commence.
