- Techgen Metals (TG1) has wrapped up its inaugural reverse circulation (RC) drilling program at the Ida Valley Gold Project in the Yilgarn Craton region of WA
- Drilling tested two gold-in-soil anomalies of interest, termed anomaly A and B
- Drilling at anomaly A has revealed the presence of underlying north-trending vertical altered shear zones in amphibolite
- Drill holes at anomaly B have uncovered vertical shear zones containing altered sulphidic rocks, of a similar nature to those at anomaly A
- TG1 is encouraged by the geology observed during drilling and has consequently put in for a new tenement application for an area adjoining its current licences that form the Ida Valley Project
- Assay results are expected within five to eight weeks
- Shares ended the day 3.8 per cent lower at 25 cents each
Techgen Metals (TG1) has wrapped up its inaugural reverse circulation (RC) drilling program at the Ida Valley Gold Project in the Yilgarn Craton region of WA.
The initial program began at the start of this month and consisted of 11 RC drill holes.
Kalgoorlie based drilling company, Australian Surface Exploration, completed the drilling across 990 metres, within a newly identified greenstone belt that hasn’t been tested before.
The drill holes aimed to test two gold-in-soil anomalies of interest, termed anomaly A and B.
Drilling at anomaly A has revealed the presence of underlying north-trending vertical altered shear zones in amphibolite, adjacent to the contact between the amphibolite and ultramafic rocks.
Over at anomaly B, the drill holes have uncovered vertical shear zones containing altered sulphidic rocks, of a similar nature to those at anomaly A.
Techgen has collected a total of 249 composite samples, along with 33 quality assurance and quality control samples that have been submitted for gold assaying at the ALS lab in Perth.
The company has been encouraged by the geology observed during drilling and has consequently grabbed an additional exploration licence adjoining its current licences forming the Ida Valley Project.
The new licence covers 84 square kilometres along the primary Ballard Fault, bringing the ground cover held by TechGen at the Ida Valley Gold Project to 199 square kilometres.
Looking ahead, Managing Director and Ida Valley’s vendor Ashley Hood said the company eagerly awaits the assay results although they could be five to eight weeks away.
Ashley detailed plans for further work at the project.
“Additional fieldwork to explore further-extensions of the greenstone belt that is undercover are currently being planned. We anticipate additional RC drilling, to test already defined targets along with new targets currently being developed at
varying stages throughout this year,” he said.
Shares ended the day 3.8 per cent lower at 25 cents each.