TG Metals Defines New Anomalies from Historical Exploration at Van Uden’s Gold City Prospect

Soil assays and historical drilling results have defined three new gold anomalies at TG Metals’ (ASX: TG6) Gold City prospect within the Van Uden project in Western Australia’s Southern Cross-Forrestania greenstone belt.

Two of the anomalies sit across 1.5 kilometres of strike and the third is located to the north of historical close-spaced 50 metres by 50m soil sampling, with all three situated to the west of the major Forrestania Shear structure in close proximity to a magnetic high interpreted as an ultramafic unit with a north-to-south strike.

Best historical intercepts have been 25m at 1.09 grams per tonne gold from 18m, 14m at 2.26g/t gold from 20m and 13m at 1.09g/t gold from 40m.

Increased Trend

Chief executive officer David Selfe said the results show a significantly increased mineralised trend at Gold City.

“This prospect was known to have gold mineralisation associated with historical workings and it is a positive sign to have generated new soil results which are analogous to those already seen,” he said.

“This potentially opens up Gold City as a significant second gold centre for the Van Uden project and a future expansion of our substantial resources base as we progress towards first production.”

Resource Expansion

TG will test the new targets as part of its upcoming drilling campaigns to expand the Van Uden resource, which totals 6.35 million tonnes at 1.1g/t gold for 227,140 ounces (indicated and inferred).

Van Uden features four granted mining leases, four granted exploration licences, one exploration licence application and two miscellaneous licences.

The project lies in close proximity to the Mt Holland lithium mine owned by the Covalent Lithium joint venture between Wesfarmers (ASX: WES) and Sociedad Química y Minera de Chile, Barto Gold Mining’s Marvel Loch plant, and the Edna May gold plant owned by Ramelius Resources, ASX: RMS.

Past exploration by Convergent Minerals and Kidman Resources defined extensive mineralisation at Van Uden and shallow mineralisation at Gold City, which is located on a single exploration licence approximately 25km from the mining leases.

Van Uden Acquisition

TG acquired a majority stake in Van Uden when it entered into a $3.5 million cash and share sale agreement earlier this year with private company Montague Resources Australia.

“The strategic acquisition of an advanced project gives us opportunities for near-term cash flow at a time of record gold prices,” Mr Selfe said.

“It is located very near to our Lake Johnston lithium deposits and has enormous exploration upside through testing of the known mineralisation down-dip along a strike length of more than 2km.”