Two key updates have come from TechGen Metals over the past two weeks.
Drill pads have now been completed, with access established to historic Newcrest drill pad locations across the project. This provides clear access for the imminent commencement of the company’s RC drilling program, which will target several geophysical and geochemical anomalies.
The targets consist of a series of IP chargeability anomalies sitting above a structural shear zone, with surface rock chip samples showing extremely high grades of copper, gold, and antimony. 23 rock chip samples returned >1% copper with peak assay results of 32.6% Cu, 48.8g/t Au and 3.92% Sb with silver credits
MB1 is the most significant of these targets, with chargeability readings more than three times stronger than background levels, sitting at >34 mV/V compared to background levels of 10 mV/V. The company plans to drill three holes directly through this anomaly.
MB2 is slightly weaker but still a strong feature relative to background, with readings >28 mV/V against 10 mV/V background levels. The company plans to drill one hole through MB2, and similarly one hole each through MB3 and MB4.
From a cost-efficient exploration standpoint, TechGen has positioned the drill rig to maximize the probability of success. There must be a source to the copper and gold mineralization observed at surface. Historic Newcrest drill holes intersected sulphides toward the end of relatively shallow holes, but unfortunately stopped well short of the main chargeability anomaly. Drill hole PB12 returned a best assay result of 1 metre @ 0.8% copper from 88m downhole in primary sulphide chalcopyrite. TechGen is now well positioned to capitalize on this previously missed opportunity.
TechGen’s Managing Director, Ashley Hood , commented: “The completion of earthworks for the imminent RC and Diamond program is the final piece of preparation prior to the arrival of a UDR or Universal Drill Rig that has the capability to drill both RC and diamond core holes. We have the benefit of the historic Newcrest drill logs and data to allow RC pre-collars to be drilled before switching over to diamond core tails to test the priority IP targets. The Company looks forward to updating the market once drilling commences”.
Acquistion of adjacent property – Mt Boggola East Project
Further demonstrating TechGen’s strong belief in the project, the company announced this week a strategic acquisition of tenements located directly to the east, offering additional discovery potential.
A historic Newcrest drill intercept within this new area delivered stronger results, including 9m @ 1.8% Cu, with individual grades up to 4.8% Cu. Similarly, the project has highly encouraging surface results, including peak rock chip values of 44.9% Cu, 16.2 g/t Au, and 55.2 g/t Ag.
Geologically, Mt Boggola East shares similar characteristics with the Company’s adjoining Mt Boggola Project. The area comprises sedimentary rocks and pillow basalts of the Ashburton Basin, along with sedimentary rocks of the Blair Basin. Importantly, the Frederick River Fault runs through the project area — the same structural feature associated with the Mt Boggola MB1–MB4 targets.
TechGen’s Managing Director, Ashley Hood , commented: “We see the Mt Boggola East Copper project as a great opportunity for the Company as it sits within the Company’s current land holding area at the Mt Boggola Project 60km south of Paraburdoo. This new tenement is the missing piece in the project area that the Company has been looking to acquire prior to the commencement of drilling that’s due to commence imminently at the MB1 to MB4 copper, gold and silver geophysical targets. In the early 1990’s Newcrest drilled in the Stadlers Prospect area intersecting 9 metres @ 1.86% copper while targeting large gold oxide systems. TechGen is targeting the copper dominant gossans in the area through IP geophysical techniques while geochemistry is pointing towards the copper being associated with precious metals like gold and silver as well as base metal association with antimony and lead.”
TechGen remains fully funded to carry out exploration across all four core projects, with drilling set to commence imminently at Mt Boggola. The company trades on the ASX under the ticker symbol TG1.
Disclaimer: TechGen is a paid sponsor. This is not advice to purchase TechGen stock. This article has been approved and verified by TechGen.
