- TechGen Metals (TG1) has commenced an inaugural reverse circulation drilling campaign at the company’s Ida Valley Gold Project in WA
- The program is targeting two anomalies of interest over more than 1000 metres within a newly identified greenstone belt that has never before been tested
- The area’s first ever systematic geochemistry samples were collected around 12 months ago and returned a peak assay for the northern anomaly of 884 parts per billion (ppb) gold-in-soil and rock chip samples up to 6.6 g/t gold
- Drilling will also target the southern anomaly where assays are up to 75 ppb gold
- TG1 anticipates the program will take a week to complete
- Techgen Metals shares have spiked 7.29 per cent to trade at 25.8 cents each
TechGen Metals (TG1) has commenced an inaugural reverse circulation drilling campaign at the company’s Ida Valley Gold Project in Western Australia.
The program is targeting two anomalies of interest over more than 1000 metres within a newly identified greenstone belt that has never before been tested.
According to TechGen, the area’s first ever systematic geochemistry samples, which were collected around 12 months ago, returned an impressive peak assay of 884 parts per billion (ppb) gold-in-soil and rock chip samples up to 6.6 g/t gold.
The assay now forms an area known as “Target A” or the northern anomaly.
By contrast, auger assays at the southern anomaly, or “Target F”, reached up to 75 ppb gold.
Historically, access to the Ida Valley Project area has been difficult along overgrown and abandoned station tracks, with limited previous exploration for diamonds occurring in the early 1980s.
TechGen Metals Managing Director Ashley Hood said the company is excited to be the first to explore the greenstone belt given its impressive early-stage anomalies.
“It’s exceptionally uncommon to find new greenstone belts of this scale with outcropping mafics and ultramafic units carrying gold mineralisation in favourable settings between well-known mining districts,” he said.
“We thank WA’s Department of Mines, Industry Regulation and Safety for their publicly available online GeoVIEW program that greatly aids explorers and the industry to make these new discoveries possible.”
“Drilling at Ida Valley closely follows our first El Donna drilling campaign, illustrating our team’s commitment to keeping to our scheduled work plan and delivering maximum value in the short month since the company’s listing on April 7, 2021.”
TechGen anticipates the program will take a week to complete.
On the market this afternoon, TechGen Metals shares have spiked 7.29 per cent to trade at 25.8 cents at 2:58 pm AEST.