Novo JV and 48.8g/t Gold Highlight TechGen’s Q4 Exploration Surge

Strategic Partnerships Bolster John Bull Gold Project

TechGen Metals Limited has taken a decisive step forward in its exploration strategy by entering into a farm-in and joint venture agreement with Novo Resources Corp for the John Bull Gold Project in New South Wales. This agreement allows Novo to earn up to a 70% interest in EL 8389 and an 80% interest in EL 9121, with TechGen carried interest through to a decision to mine. The collaboration leverages Novo's technical expertise to accelerate exploration on a project that already boasts a 1.2km-long gold and arsenic soil anomaly and encouraging drilling results, including intercepts of 68m at 1g/t Au and 66m at 1.14g/t Au.

Blue Bore Copper Project: A New Frontier in the Northern Territory

In the Northern Territory, TechGen signed an option agreement to earn an initial 80% interest in the Blue Bore Copper Project, a large, underexplored area covering nearly 4,000 km². The project is conceptual and high-risk but offers potentially high rewards, situated within the Pedirka Basin, which overlays known sediment-hosted copper prospective basins. Historical water bore data and anomalous copper in groundwater hint at unexplored mineralisation, setting the stage for TechGen’s planned ground exploration once tenements are granted.

Western Australia Projects Show Promising Results

TechGen’s portfolio in Western Australia continues to deliver encouraging signs. The Mt Boggola Project returned exceptional rock chip assays with gold grades up to 48.8g/t and copper concentrations reaching 27.8%, alongside significant antimony and lead values. These results confirm the historical Northern Star soil anomaly and have prompted plans for detailed induced polarisation geophysical surveys in early 2025.

Meanwhile, airborne electromagnetic and magnetic surveys over the Kimberley projects, including Blue Devil, Copper Springs, and Sally Downs, have been completed, with data interpretation underway. The Blue Devil Project, in particular, has revealed outstanding late-time bedrock conductors at approximately 200 metres depth, closely associated with a large magnetic intrusive body and historical high-grade copper and gold occurrences, marking it as a priority target for follow-up exploration.

Joint Ventures and Capital Position Support Growth

TechGen’s joint venture with IGO Limited at the North Nifty Project in the Paterson Orogen also progressed, with IGO undertaking exploration planning for the upcoming field season. This JV allows IGO to earn up to an 80% interest by funding exploration expenditure, aligning with TechGen’s strategy of leveraging partnerships to advance projects.

Financially, TechGen remains well-capitalised with a cash balance of $1.76 million at the end of December 2024, following a placement that raised approximately $916,000. The company’s disciplined capital management supports ongoing and planned exploration activities across its portfolio, including the Ashburton Basin projects where elevated antimony, copper, gold, and silver occurrences have been identified.

Looking Ahead

TechGen’s forward work plans for Q2 2025 include detailed geophysical data interpretation at Blue Devil, planning for future work at Sally Downs and Copper Springs, and an induced polarisation survey at Mt Boggola. Exploration activities at John Bull and North Nifty will continue under the stewardship of joint venture partners Novo Resources and IGO respectively, underscoring a collaborative approach to unlocking value.