TechGen Metals (ASX:TG1) - Managing Director, Ashley Hood (right)
Managing Director, Ashley Hood (right)
Source: Nova Legal [LinkedIn]
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  • TechGen Metals (TG1) completes another round of reverse circulation drilling at the Ida Valley Gold Project in Western Australia
  • Stage two drilling included 15 holes for nearly 1400 metres and aimed to follow up on encouraging results from the first phase
  • While the company doesn’t expect to receive assays from round two for another couple of months, it’s pleased to have observed encouraging geology
  • Company shares ended the day 8.57 per cent in the green to close at 19 cents

TechGen Metals (TG1) has completed reverse circulation (RC) drilling at the Ida Valley Gold Project in Western Australia.

The Ida Valley Gold Project is located between the Agnew-Lawler’s and Mount Ida mining districts about 80 kilometres northwest of Leonora.

The stage two RC drilling program included 15 holes, for 1389 metres, and was designed to follow up on encouraging results from the stage one program.

Pleasing results from the first program include eight metres at 2.3 grams of gold per tonne (g/t) from 36 metres including four metres at 4.02g/t gold and eight metres at 1.25g/t gold from 20 metres.

The initial program only targeted the central zone whereas the recently completed drilling targeted the central zone’s east and west shears.

While results are yet to be received from stage two, drilling intersected rock units, zones of quartz veining in several holes as well as zones of disseminated pyrite and pyrite veining.

Managing Director, Ashley Hood, commented on the completion of stage two drilling.

“It’s pleasing to have successfully completed a second stage of RC drilling into this new belt which appears to be growing at depth to the north and to the south with two new geochemistry targets tested,” he said.

“The southern geochemical zone is over 1300 metres long, this program we’ve simply tested a 300-metre strike length to see if the grades continue at depth and along strike, obviously we’re a couple of months away from getting the assays, however the geology encountered is highly encouraging.”

TechGen has sent 348 composite samples to the lab for gold and multi-element analysis.

Company shares ended the day 8.57 per cent in the green to close at 19 cents.

TG1 by the numbers
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