Through some extensive research today into other WA gold/copper stocks, I stumbled across TG1 and felt compelled to add this awesome company into my portfolio...
As TG1 has just recently listed on the ASX with its IPO @ 20 cents a few days ago (raising $6 Mil) on the 7th April 2021, not much is actually known by investors about TecGen (TG1) so I thought I would put together a little bit of a summary...
Disclosure: I am not a geologist, nor a professional investor, and much of this summary has been copy / pasted from elsewhere. Please always Do Your Own Research before making any investment decisions.
About TechGen:
One company, three exciting addresses.
TechGen Metals is the only junior explorer with 100% ownership of 3 gold and copper areas in the Yilgarn Craton, Paterson Orogen, and Ashburton Basin in Western Australia. All 7 projects (with 12 Exploration Licenses) are topographically, geographically, and geologically located in 3 separate regions which have distinctly different mineralisation occurrences within them – from proven provinces with world-class gold and base metals exploration, to potential areas for high-grade discoveries. Each project has one common goal; of being prosperous and valuable areas for gold and copper discoveries.
With airborne electromagnetic surveys booked for Q1 2021 targeting historic copper mines, drill intersections and surface mineralisation that remain untested by modern geophysics systems as well as historic gold intersections that have been underexplored and will receive immediate deeper drilling, TechGen Metals are well-placed to unlock shareholder value!!
The Company’s objective is to create wealth for its shareholders through commercial exploration success.
TechGen holds a portfolio of twelve exploration licences strategically located in three highly prospective geological regions of Western Australia; the Yilgarn Craton, Paterson Orogen and Ashburton Basin.
The Yilgarn Craton and Paterson Orogen are both proven world class gold and base metal provinces whilst the Ashburton Basin is considered highly prospective yet under explored and has the potential for major new gold and base metal discoveries. The spread of projects across these three geological regions provides the Company with geographical and operational diversification.
TechGen has an experienced board and management team, with a broad range of exploration, development, management, legal, finance, commercial and technical skills in the resource industry. The Company’s Managing Director and Technical Director are project vendors and substantial holders, driven to actively manage projects and deliver value to shareholders.
100% Owned Project Areas in three mineral provinces -Twelve quality licenses – large landholding (986 km2)
*It is also worth noting that these areas have undergone very little modern exploration, but lie in broader regions where prominent discoveries have been.
So let's have a little look at TG1's three exciting areas of highly prospective gold and copper exploration projects:
YILGARN CRATON:
❖ Proven world-class gold & base metals province ❖ TechGen Metals have two 100% owned gold projects - El Donna Project (Current RC Drilling Campaign) - Ida Valley Project (Commencing drilling this month) ❖ Ida Valley is an exciting grassroots gold discovery ❖ El Donna contains significant historic gold intersections ❖ Both projects have potential for significant gold discoveries
El DONNA PROJECT:
I must say, I am quite excited about this project and the news flow to come
The El Donna project (refer to Figure 1 below) is ideally located 50km north east of Kalgoorlie and is situated between the Mayday North Gold Mine (84,000 oz @ 1.5g/t Au Indicated & Inferred) owned by Bardoc Gold Limited (ASX: BDC) and the Penny’s Find Gold Mine (56,000 oz @ 7.04g/t Au Indicated & Inferred) owned by Orminex Limited (ASX: ONX) and Horizon Minerals Limited (ASX: HRZ). The project is situated within the Gindalbie Domain of the Kurnalpi Terrane, which is part of the Eastern Goldfields Superterrane of the Archean Yilgarn Craton.
The El Donna project is considered prospective for gold mineralisation similar to that observed at both the Mayday North Gold Mine, 2km to the north, and the Penny's Find Gold Mine, 3.5km to the south.
Significant zones of supergene and primary gold mineralisation intersected in historic drilling. Results include: - 3m @ 17.9g/t Au from 96m (Hole GRC15) - 21m @ 1.5g/t Au from 341.4m (Hole EDD3) - 2m @ 17g/t Au from 36m (Hole ES100) - 2m @ 8.23g/t Au from 50m (Hole GRC7) - 8m @ 2.23g/t Au from 32m (Hole GRC27)
Recently, the Company collected several rock chip samples from the Star Prospect within the El Donna project and these have been sent for analysis (Awaiting results). Together with TechGen’s maiden El Donna RC drilling campaign, the Company looks forward to updating the market as and when results have been reviewed and analysed by its technical team.
Based on the timeline of the commencement of RC Drililling, we ca expect the assay results sometime in May (Next Month)
HIGHLIGHTS • Highly altered and favourable geology • RC drilling is targeting high grade bedrock gold mineralisation • First drill rig at El Donna for 15 years • 1,300m initially to test the El Donna 7 and Star Prospect targets • Historic intercepts at El Donna include 3m@ 17.9 g/t, 21m@ 1.5g/t and 2m@17g/t gold¹
TechGen’s Executive Technical Director, Mr Andrew Jones commented: “Since acquiring the project back in 2019, detailed field mapping and 3D modelling of historic drilling and bedrock mineralisation have highlighted key areas for immediate RC drilling. In line with our planned exploration program (already commenced), we are excited to have commenced our maiden RC drilling campaign at El Donna.”
The results of this RC drilling campaign could be very exciting indeed (and possibly our rock chip samples from the Star Prospect) And could really send our SP in the right direction - A lot to look forward to over the next few months!
Now lets look at our other Yilgarn Project:
IDA VALLEY Project:
❖ Grassroots gold discovery in a new greenstone belt 65km northwest of Leonora (Very Exciting) ❖ Auger soil anomaly to 884ppb Au ❖ Rock chip samples to 6.6g/t Au ❖ Several +5ppb Au soil anomalies identified along the regionally extensive Ida Fault. A further 25km of strike to be explored ❖ No previous drilling within E29/1053 ❖ Geological mapping & targeting exercise complete with first pass drill holes planned ❖ POW for drilling approved
TG1 is set to commence RC drilling within weeks of writing this summary
I am really excited about both El Donna and Ida Valley which have significant potential for HUGE gold discoveries
A quick look at our other projects:
PATERSON OROGEN:
The Paterson Orogen region is in a world class mineral province that is host to large precious and base metal mines such as MetalsX’s Nifty Project, Rio’s Winu Project, Greatland Gold’s Havieron Project and Newcrest’s Telfer operations.
❖ Proven world-class gold & base metals province ❖ Telfer Au-Cu Mine discovered in 1972 ❖ Nifty Cu Mine discovered in 1981 ❖ Havieron Au-Cu discovery in 2018 by Greatland Gold ❖ Winu Cu-Au-Ag discovery in 2019 by Rio Tinto ❖ A known world-class province with new discoveries still being made ❖ TechGen Metals have two 100% owned projects - Harbutt Range Project (100%) - North Nifty Project (100%) ❖ Projects are under-explored ❖ Contain historical targets that have not been drill tested ❖ Have potential for significant gold & base metal discoveries
key geophysical targets being developed for drill testing.
HARBUTT RANGE Project:
This project will see TG1 follow up on an undrilled airborne EM and IP geophysical targets and gold and base metal soil anomalies.
❖ Prospective for intrusion-related Cu-Au and sediment hosted base metal mineralisation ❖ Undrilled airborne EM & IP targets ❖ Previous drilling at the Maxwell Prospect intersected widespread sulphides ❖ Gold and base metal soil anomalies to be followed-up ❖ Limited previous exploration ❖ Gravity, airborne magnetics & EM planned (This is planned in Q2, 2021 with drill testing planned in Q3)
* = Completed
NORTH NIFFTY Project:
TG1 will follow up a surface Cu-Pb-Zn-As anomaly at its Hakea Prospect.
❖ 15 kilometres from the Nifty Cu Mine ❖ Regional scale Vines Fault passes through the project area ❖ Limited modern exploration despite proximity to Nifty ❖ Hakea Prospect identified by Western Mining Corporation in area ❖ Soil sampling, airborne magnetics survey & ground EM planned
Looking forward to updates on these projects
AND finally, TG1's third area ...
ASHBURTON BASIN:
The Ashburton Basin is considered highly prospective yet under explored and has the potential for major new gold and base metal discoveries.
❖ Targeting copper-gold mineralisation ❖ Under-explored Proterozoic-aged basin ❖ TechGen Metals have three 100% owned projects - Station Creek Project - Blue Rock Valley Project - Mt Boggola Project ❖ Projects are under-explored ❖ Historic copper and base metal mines ❖ Exceptional rock chip & geochemistry targets ❖ Have potential for significant gold and base metal discoveries
The presence of high grade historic copper rock chip samples and the lack of modern exploration in the area are what triggered TG1’s interest in the area as a prospective site.
It is worth noting that 85% of the Blue Rock Valley Project area has not had any previous airborne electromagnetic coverage.
The Blue Rock Valley Project consists of two Exploration Licences (E08/3030 & E08/3276) that cover a combined area of 202 square kilometres.
The Blue Rock Valley Project consists of two 100% owned Exploration Licences (E08/3030 & E08/3276) which cover a combined area of 202km2. The Company was attracted to the Blue Rock Valley Project by a combination of factors including the presence of major fault structures (Talga Fault and others), the presence of historic copper and base metal workings, high grade historic copper rock chip samples and an overall lack of modern exploration in the area
Blue Rock Valley Project ❖ Historic copper-lead-zinc & copper workings ❖ High grade Cu rock chips to 16.05% in a large shear zone ❖ Very limited previous exploration in the area ❖ VTEM geophysical survey previously completed to the north east portion = mid/late time anomaly ❖ 180 sample soil geochemistry & rock chip program completed in August 2020 ❖ VTEM-Max airborne EM survey booked for March -April 2021
TG1 has already or is very close to commencing its Airborne VTEM at Blue Rock.The Blue Rock Valley Project features historic copper-lead-zinc & copper workings with rock chip samples to 16.05% Cu in a large shear zone.
IN FACT, just of today (12/04/21), TG1 "is pleased to announce that the scheduled heliborne Versatile Time Domain Electro Magnetic (VTEMTM Max) geophysical survey has commenced within the Company’s highly prospective 100% owned Blue Rock Valley Project in the Ashburton Basin of Western Australia"
The VTEMTM Max survey at the Blue Rock Valley Project will consist of approximately 939 line kilometres of surveying with nominal 200m spacing between flight lines. The survey is being flown by UTS Geophysics Pty Ltd and the data, once received, is to be processed and modelled by Russell Mortimer at Southern Geoscience Consultants (SGC).
The VTEM™ Max system is the most innovative and successful airborne electromagnetic system to be introduced in more than 30 years. The proprietary receiver design, using the advantages of modern digital electronics and signal processing, delivers exceptionally low-noise levels. Coupled with a high dipole moment transmitter, the result is unparalleled resolution and depth of investigation in precision electromagnetic measurements.
Prior to the commencement of the current survey, results from a historic but limited VTEM survey over approximately 15% of the Blue Rock Valley Project area identified two moderate to strong electromagnetic (EM) conductors (Jackson Gold, 2006). These two historic VTEM anomalies were identified within the mid to late time channels. The north eastern EM anomaly is ideally located immediately south of known copperlead-zinc workings and the anomaly lies coincidently on a prominent magnetic high and an east-west fault. The north western historic EM anomaly lies adjacent to the Talga Fault, a major regional structure that passes through the Blue Rock Valley Project area.
Any newly identified anomalies from this survey will be modelled and ranked by SGC with follow-up likely to consist of ground EM surveying and geological mapping prior to drill testing.
And what did our man, Mr Ashley Hood (our MD) have to say about this?
"Since the Company’s recent ASX listing, our technical team has hit the ground running on a number of fronts. At the Ashburton group of projects, the objective of the VTEM surveys is to generate quality discrete mid to late time bedrock conductors prospective for copper-gold and/or base metal style mineralisation comparable to that seen in the Cobar Basin in NSW. We are encouraged by the results of limited historic VTEM surveys given that areas of historic copper workings and major faults are yet to be tested”
NICE
Highlights from todays Ann:
Is it only the hairs on my arms standing up???
Within the Ashburton Basin, we also have:
Station Creek Project
The Station Creek Project has multiple anomalies along a 10km long fault with peak rock chip values of 8.8g/t Au, 257g/t Ag and 54.3% Cu.
❖ Limited past exploration in the area ❖ No geophysical surveys previously completed ❖ Multiple anomalous rock chip samples along a 10km long fault ❖ 430 sample soil program & rock chip sampling program completed in August 2020 ❖ Peak rock chip values of 8.8g/t Au, 257g/t Ag and 54.3% Cu ❖ VTEM-Max airborne EM survey booked for March - April 2021
So I expect an Ann very soon regarding the commencement of EM Surveys scheduled to commence this month
ALSO in this region, we have the:
Mt Boggola Project ❖ Past exploration has identified high-grade copper and gold anomalism ❖ Peak rock chips of 43.1g/t Au, 68% Cu & 119g/t Ag ❖ Limited drilling returned a best intercept of 4m @ 2.3% Cu ❖ No modern geophysical surveys previously completed ❖ Rock chip sampling program completed in August 2020 ❖ VTEM-Max airborne EM survey booked for March - April 2021
The Mt Boggola Project features peak rock chips of 43.1g/t Au, 68% Cu & 119g/t Ag. Limited RC drilling has returned a best intercept of 4m @ 2.3% Cu.
Again, EM Surveys are booked to commence very soon
Also exciting, Rock chip sampling program has located several gossanous iron-rich outcrops & malachite outcrops
Ok, so that's out 3 exciting areas of exploration..
But before I invest in any company, I always look at the composition of the Top 20 Shareholders, and in particular, Managements stake in the company...
And I like what I see
I become even more convinced in a company, when the main guy (our MD - Ashley Hoods), owns almost 7% of the company!! And our Technical Director, AJ, owns a staggering 6% of the company, and together, are substantial shareholders with a combined shareholding of almost 13%.
I will post another post regarding the Top 20 on another day, with more in depth analysis, but I like what I see so far...
And to add the mix s3 Consortium (WE ALL KNOW WHO THEY ARE) as one of the Top 5 Shareholders adds further confidence to my belief that today I have bought into TG1 at very CHEAP prices...
I really like what I see here
If management (Andrew) is reading this post, I suggest you update your Top 20 list on a monthly basis and upload it to your website as an Investor Resource which I highly depend upon in making investment decisions... If my other other companies that I am invested in can do his, I am sure 5 minutes of your time each month so satisfy Investor Curiosity will not be problem Unfortunately it is a fact, that, companies that don't really "care" about their shareholders fail to perform such a simple monthly task hehehe...
I look forward to you adding to my very basic research above (all opinions welcome) and I look forward to enjoying a prosperous Investment Journey with you all
Another disclosure: I am no way compensated by, or affiliated with TG1 or S3 Consortium... I do my own research and come to my own conclusions ... View my Positing History (No Secret) and you will see)
I am a humble Pizza Delivery Driver
Cari
TG1 Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held
And could really send our SP in the right direction
- A lot to look forward to over the next few months!
