TG Metals Reports Promising Gold Recoveries from Stockpiles at Van Uden Project

TG Metals (ASX: TG6) has identified the potential to fast-track development of its Van Uden gold project with positive metallurgical test work results from mineralised stockpiles.

The studies recovered as much as 90.7% gold in tests on composite samples from the historical Western Australian asset.

The positive results have given TG increased confidence to pursue future engineering studies, further confirmatory work, and discussions with nearby treatment facility owners.

Positive Drilling Assays

TG announced in August that final drilling assay results from the drilling of historical stockpiles had identified 60,232 tonnes of ore at 0.84 grams per tonne gold.

The historical Van Uden mining centre hosts an inferred and indicated mineral resource estimate of 227,000 ounces of gold on four granted mining leases.

The current core focus for TG is identifying tonnages that can generate near-term cash flow through third-party processing.

The company plans to provide external treatment facilities with the full metallurgical report and test work data to assist in figuring a treatment pathway for the stockpiles and, potentially, the larger Van Uden resources.

TG also recently announced that it had defined a number of new anomalies at Van Uden’s Gold City prospect.

Standard Processing Potential

“This test work confirms the positive metallurgical characteristics of the stockpile ore to be treated at a standard carbon in leach processing plant,” chief executive officer David Selfe said.

The metallurgical work will also inform future feasibility studies for the wider Van Uden Gold project.

TG received firm commitments in late September for a $4 million placement to support its development of Van Uden, taking its cash on hand to approximately $6.5m.

The company said it would use the funds to rapidly infill and extend the deposit, with a view to upgrading its existing mineral resource estimate of 6.35Mt at 1.1g/t gold for 227,140oz in the indicated and inferred categories.

It is also planning to accelerate exploration of a 6.5km gold in soil anomaly along the Van Uden shear.