TG Metals Limited Provides Update on Van Uden Gold Project Progress

Strategic Insights -

TG Metals Limited has made significant progress at the Van Uden Gold Project, identifying near-term cash flow opportunities through processing at third-party facilities. The Company has received final drilling assay results from historical stockpiles, which have estimated 60,232 tonnes at 0.84g/t Au. A high-grade surface laterite mineralisation has also been identified, totaling 12,496 tonnes at 2.55g/t Au. The resource model also indicates exposed tonnages at the base of the historical Tasman open pit, with a program of works approved for grade control drilling to better define this mineralisation.

Key Takeaways:

  • TG Metals Limited has identified 60,232 tonnes at 0.84g/t Au in historical stockpiles through final drilling assay results.
  • A high-grade surface laterite mineralisation has been identified, totaling 12,496 tonnes at 2.55g/t Au.
  • The resource model indicates exposed tonnages at the base of the historical Tasman open pit, totaling up to 26,675 tonnes at 1.6 g/t Au.
  • TG Metals Limited has received approval for the removal of stockpiles and is in discussions with parties to secure toll treatment agreements.
  • The Company is advancing with resource infill and extensional drill planning, with further POWs to be lodged shortly for these campaigns.
  • TG Metals CEO, Mr. David Selfe, stated that the Company is making accelerated progress at Van Uden with the evaluation of historical stockpiles and interrogation of the resource model.

Statistics:

  • 60,232 tonnes at 0.84g/t Au in historical stockpiles.
  • 12,496 tonnes at 2.55g/t Au in high-grade surface laterite mineralisation.
  • Up to 26,675 tonnes at 1.6g/t Au remaining within the existing open pit boundary in the Tasman project.
  • 227,000 oz gold resource on four granted mining leases, four granted exploration licences, one exploration licence application, and two miscellaneous licences.

Sources:

  • ASX release: "TG Metals Limited (TG Metals or the Company) (ASX:TG6) is pleased to provide an update on progress made towards the definition of near-term cash flow opportunities and exploration activities at the Van Uden Gold Project (Van Uden Gold or the Project)."
  • TG Metals Limited news release: "TG Metals CEO, Mr. David Selfe stated; 'We are making accelerated progress at Van Uden with the evaluation of historical stockpiles for third party treatment and interrogation of the resource model showing low to no waste removal required for in-ground opportunities, such as the high-grade laterite and base of the Tasman pit.'"