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- Recently listed TechGen Metals (TG1) confirms gold mineralisation at its Ida Valley Gold Project in Western Australia
- The company discovered the gold during the first drilling program undertaken at the project
- Gold mineralisation remains open at depth and along strike, and a one-kilometre-long gold-in-soil anomaly remains to be tested
- TechGen Metals submitted soil and rock chip samples for assaying and is planning to conduct follow-up drilling
- Company shares were trading steady at 21.5 cents
TechGen Metals (TG1) has confirmed the presence of gold mineralisation at its Ida Valley Gold Project which lies northwest of Leonora in Western Australia.
Significantly, the gold mineralisation was discovered during the first drilling program at the project.
The inaugural reverse circulation (RC) drilling campaign began at the start of May, soon after TechGen officially listed on the ASX. This drilling aimed to target two extensive anomalies within a newly identified north-northwesterly-trending greenstone belt.
Excitingly, four of the 11 drill holes returned assay results greater than 1g/t gold.
One hole returned a significant composite assay of four metres at 4.02g/t gold from 40 metres including eight metres at 2.3g/t gold from 36 metres. While it’s a lower grade, the company was also pleased with hole IVRC002 which returned a broad zone of 36 metres at 0.95g/t gold from 52 metres.
Pleasingly, the gold mineralisation remains open at depth and along strike. There’s also a one-kilometre-long gold-in-soil anomaly which remains to be tested.
“From a blank canvas of outcropping greenstone some 18 months ago with no historic gold or base metals exploration, to this brand new and first ever RC drilling campaign confirming impressive gold grades over multiple zones, today’s results open up exciting new growth opportunities and have delivered new target horizons,” Managing Director Ashley Hood said.
TechGen Metals has also completed a soil sampling program which collected 1131 samples and 20 rock chips. The samples have been submitted to ALS Perth for assaying.
The company is planning further drilling to follow-up on the gold mineralisation and multiple geochemical targets are yet to be tested.
TechGen’s shares were trading steady at 21.5 cents at 1:57 pm AEST.
