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Mining industry

TG Metals Limited Provides Update on Van Uden Gold Project Drilling Assay Results

Strategic Insights

— 2 min read

TG Metals Limited is pleased to provide an update on progress made towards the treatment of historical mining stockpiles at the Van Uden Gold Project. Drilling assay results confirm the gold grade and quantify the near-term cash flow opportunity for the company. The majority of the assay results from the drilling of the Tasman stockpiles have been received, with assays that remain outstanding not expected to affect the overall average gold grade. The results define a total of 42,933 tonnes at 0.90g/t Au weighted average grade from the two Tasman stockpiles, and 17,721 tonnes from the Dieman stockpiles are pending assay results.

Key Takeaways:

  • The Van Uden Gold Project consists of four granted mining leases, four granted exploration licenses, one exploration license application, and two miscellaneous licenses, covering a 227,000 oz gold resource.
  • The drilling assay results confirm the gold grade and quantify the near-term cash flow opportunity for the company, with a total of 42,933 tonnes at 0.90g/t Au weighted average grade from the two Tasman stockpiles.
  • The company has been undertaking a metallurgical testwork program to assist in discussions with third-party mill operators for processing arrangements, with results expected in early August.
  • The company's mining proposal for removal of the stockpiles has been approved by the government of Western Australia, and works can begin as soon as toll treatment agreements are secured.
  • The company expects to receive the remaining drill assays from the Tasman and Dieman stockpiles imminently, and the receipt of the Small Mining Proposal approval paves the way to first gold production from the Van Uden Project stockpiles.
  • The company plans to advance discussions with toll milling operators in the region to secure a processing agreement and achieve first gold production.

Mr. David Selfe, CEO of TG Metals Limited, stated that "Good progress has been made on the evaluation of the historical stockpiles for third-party treatment, with assays returned so far within our expectations from the historical mining records for the Tasman open pit. Material grading between 0.6g/t Au and 1.5g/t Au was stockpiled on site, and this is evident in the assays received from drilling the stocks."

Statistics:

  • Total tonnage of the four stockpiles: 60,654 tonnes.
  • Weighted average grade for the Tasman stockpiles: 0.90g/t Au.
  • Total weight of the Tasman stockpiles: 42,933 tonnes.
  • Total weight of the Dieman stockpiles: 17,721 tonnes.
  • Metallurgical testwork expected in August to assist in discussions with third-party mill operators.
  • Drilling method used: 4" Sonic Core drilling to maximise sample recovery.
  • Core samples recovered every metre or part thereof until the base of the stockpile was reached.

Sources:

  • TG Metals Limited news release.
  • IMO Labs (no date).
  • MRE (Mine Reserve Estimate) June 2025 (no date).
  • Australian Securities Exchange (ASX) news release.
  • Figure 2 and 3: Drilling pattern and stockpile surface.
  • Figure 4: Dieman stockpiles with drill collars.
  • Figure 5: Van Uden Gold Project location.

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