TG1 picks up more ground next to its WA copper/gold project
Our junior exploration Investment TechGen Metals (ASX: TG1) just picked up more ground right next to its WA copper/gold project.
The newly pegged ground would see TG1’s project area expand to ~436km2. At this stage the new ground is still under application.
The existing ground is already under a farm-in and Joint Venture (JV) agreement with Rio Tinto.
TG1’s existing agreement with Rio Tinto would see Rio farm-in an 80% interest in the project by funding $3M in exploration over five years.
The key terms of the agreement are as follows:
- Rio Tinto must complete at least 3,000m of RC and/or diamond drilling.
- $3M in exploration spending over five years.
- A minimum of $250,000 is to be spent before 31 December 2023.
What’s next for TG1?
Drilling results from John Bull gold project in NSW 🔄
Going into the drill program we have set up our Bull, Base, and Bear case expectations as follows:
- Bull case = TG1 proves continuity in its discovery to the north/south or at depth with intercepts >10m and gold grades over 1g/t.
- Base case = TG1 proves continuity in its discovery to the north/south or at depth with intercepts <10m and gold grades over 1g/t.
- Bear case = TG1 hits no significant mineralisation to the north/south or at depth of its discovery.
