TechGen ups exploration tempo with gold drilling at Ida Valley
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TechGen is continuing its exploration push with the start of inaugural reverse circulation drilling at the Ida Valley gold project in Western Australia.
The drilling targets bedrock gold mineralisation along the Ballard Fault, a new greenstone belt between the Lawler’s and Mt Ida mining districts, where rock chip sampling in an area that has never been drill tested returned up to 6.6 grams per tonne (g/t) gold.
TechGen Metals (ASX:TG1) tested samples at Target A/Northern anomaly approximately 12 months ago, where soil sampling returned an impressive peak assay of 884 parts per billion (ppb) gold. Target F/Southern anomaly is mapped over 1,000m and auger assays are up to 75ppb gold.
“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,” managing director Ashley Hood said.
He noted that the discovery was made possible by Western Australia Department of Mines, Industry Regulation and Safety’s publicly available online GeoVIEW program.
“We are very excited to be the first to explore a new untested greenstone belt with impressive early-stage gold anomalies,” Hood added.
“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 7 April 2021.”
Access to the wholly-owned Ida Valley project has been difficult along overgrown and abandoned station tracks, which the company says could explain the lack of exploration until now.
TechGen noted that it was previously explored for diamonds in the early 1980s.
Drilling is expected to take about a week to complete.
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.