TechGen is waiting on results from first gold drilling at Ida Valley
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TechGen has wrapped up gold drilling that tested two prospects at its Ida Valley gold project in Western Australia where sampling has returned intriguing results.
Here’s where it gets interesting.
Should the company’s 11-hole program totalling 990m be successful, it could unlock a new greenstone belt along the Ballard Fault between the Lawler’s and Mt Ida mining districts.
TechGen Metals’ (ASX:TG1) rock chip and soil sampling has already returned up to 6.6 grams per tonne gold and a peak result of 884 parts per billion gold, indicating that a gold system is present.
“It’s exciting to see a grass-roots project advance essentially from a blank canvas, in particular in an underexplored area between well-known mining districts,” managing director Ashley Hood said.
“The assay results from the four-metre composite samples are eagerly awaited, although still approximately five to eight weeks away then followed by submission of one-metre interval samples to precisely define the tenor of any mineralisation.
“Additional fieldwork to explore further extensions of the greenstone belt that is undercover are currently being planned.”
Just targets A and B in the northern anomaly area were tested in this maiden drill program, leaving the company with plenty more ground to cover.
The encouraging geology observed during drilling also led it to pegging an additional exploration licence that adjoins its two existing licences E29/1053 and E36/0979.
E36/1015 covers an additional 84sqkm along the Ballard Fault, taking the total ground held by the company up to 199sqkm.
TechGen expects to carry out further reverse circulation drilling to be carried out throughout the year to test already defined targets along with new targets currently being developed at varying stages.
This article was developed in collaboration with TechGen Metals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.