How TG Metals’ Van Uden Acquisition Could Transform Its Gold Prospects
TG Metals has completed the acquisition of an 80% stake in the Van Uden Gold Project, updated its mineral resource estimate to JORC 2012 standards, and begun drilling historical stockpiles with initial assay results received.
- Completed 80% acquisition of Van Uden Gold Project
- Updated Mineral Resource Estimate to JORC 2012 compliance with 227,140 oz Au
- Drilled and assayed historical stockpiles, initial results received
- Mining Proposal for stockpile removal approved by government
- Ongoing rehabilitation and tenement management at Lake Johnston Project
Acquisition and Resource Upgrade
TG Metals Limited (ASX, TG6) has marked a significant milestone by completing the acquisition of an 80% interest in the Van Uden Gold Project, located in the Forrestania region of Western Australia. The transaction, finalized on 30 April 2025, involved a cash payment of A$2.5 million and the issuance of shares subject to escrow, positioning TG Metals as the operational controller of the project’s tenements.
Following the acquisition, the company updated the Mineral Resource Estimate (MRE) to comply with the JORC 2012 reporting code. The revised resource stands at 6.35 million tonnes at 1.1 grams per tonne gold, equating to 227,140 ounces of gold. This update incorporates recent drilling data since 2020, which was resurveyed and restated to meet the latest compliance standards.
Drilling and Mining Proposal Progress
During the quarter, TG Metals undertook drilling of historical stockpiles at the Van Uden site, focusing on the Tasman and Diemen locations. Initial assay results from the Tasman stockpiles, totaling approximately 60,654 tonnes at an average grade of 0.90 g/t gold, have been received, while assays from the Diemen stockpiles remain pending. These efforts aim to provide sufficient samples for metallurgical testwork, with results expected in August 2025.
In parallel, the company applied for and subsequently received government approval for a Mining Proposal to remove the historical stockpiles. This regulatory milestone clears a path for potential third-party processing and further development of the project’s resources.
Broader Project and Corporate Developments
Beyond Van Uden, TG Metals continues rehabilitation activities at its Lake Johnston Project and manages tenement applications and rationalisation to optimise its exploration portfolio. The company reported exploration expenditure of $469,000 for the quarter, primarily focused on Van Uden, with no substantive mining production activities conducted during this period.
Financially, TG Metals ended the quarter with $735,000 in cash and equivalents. The board is actively engaged in discussions regarding a capital raising to support ongoing exploration and development activities, with an update expected once finalised.
Outlook and Strategic Positioning
The Van Uden Gold Project acquisition and resource upgrade represent a pivotal step in TG Metals’ growth strategy, enhancing its asset base with a JORC-compliant resource and advancing towards potential production. The ongoing drilling and metallurgical testing of historical stockpiles could unlock near-term value, while the approved Mining Proposal facilitates operational progress.
Investors will be watching closely for further assay results, metallurgical outcomes, and the outcome of the capital raising, all of which will shape the company’s trajectory in the competitive gold exploration sector.
Bottom Line?
TG Metals’ Van Uden acquisition and resource upgrade set the stage for a critical growth phase, with assay results and funding developments next to watch.
Questions in the middle?
- What will the final metallurgical testwork reveal about stockpile processing viability?
- How will the pending capital raising impact TG Metals’ exploration and development plans?
- What exploration potential remains in unclassified resource areas and the nearby City Gold prospect?
