TG1 receives government funding to drill Blue Devil
Our exploration Investment TechGen Metals (ASX: TG1) just received non-dilutive government funding for one of its upcoming drill programs…
TG1 has received up to $170,000 in government co-funding which will be put toward drilling at the upcoming drill program at the Blue Devil Project.
The funding comes from the Exploration Incentive Scheme (EIS), a program through the WA state government that provides non-dilutive funding to junior explorers like TG1.
TG1 has 2 projects it is looking to drill soon in WA looking for copper, gold, silver and antimony:
- Blue Devil (Copper-gold-silver) - Here TG1 has 2 targets from an EM survey and plans to drill as soon as this quarter. Next is awaiting the final report of the heritage survey which once approved will allow drilling to commence.
- Mount Bogolla (Copper-gold-antimony) - here TG1 has 2 targets, and plans to drill following the pending heritage survey, so could be this year. Next up is the results of the IP survey completed recently which could add more drill targets to the southwest.
See our deep dive on the Blue Devil target here: TG1: Reveals new giant copper-gold drill targets at Blue Devil project
More on TG1’s two drill targets:
Mt Boggola (Copper-gold-antimony)
At Mt Boggola, TG1 has completed the stage 2 IP survey (green lines, prior survey in purple).
TG1 Wants to drill this project this quarter.
Here TG1 has previously identified two copper-gold drill targets (MB1 and MB2):
(Source)
The IP survey recently completed are to the south west of the MB1 and MB2 targets, including covering a high chargeability zone.
These will be looking to see if there are additional targets close to a previous chargeability highs AND where previous Newcrest holes ended in sulphide mineralisation.
TG1 also confirmed in today’s announcement that heritage surveys for Mount Boggola have been rescheduled by a few weeks and now expected to begin the 21st of October.
Previously, Mount Boggola was drilled in 2022 by TG1 and $21BN Newcrest back in the 1990’s.
Since then TG1 ran some new 3D modelling of the IP targets here and it turns out, all of that old drilling missed the big chargeability anomalies by “matter of ten to twenty metres”.
For anyone new to exploration IP targets are generated when a company measures chargeability under the surface (basically checking to see if the rocks underground are conductive).
Higher chargeability is usually a good signal for somewhere to drill to find copper mineralisation.
Interestingly, three of the four Newcrest drillholes actually had primary copper sulphide mineralisation in them…
And the drilling happened metres away from copper outcrop:
