TG Metals Reports 60,000 Tonnes at 0.84 g/t Gold in Van Uden Stockpiles
TG Metals reports encouraging assay results from historical stockpiles and secures approvals for in-pit drilling at its Van Uden Gold Project, aiming to unlock near-term cash flow opportunities.
- Historical stockpiles total 60,232 tonnes at 0.84 g/t gold
- High-grade laterite resource identified – 12,496 tonnes at 2.55 g/t gold
- Approved in-pit drilling at Tasman open pit to define mineralisation
- Third-party processing agreements secured for near-term cash flow
- Van Uden hosts 227,000 oz inferred and indicated gold resource
Overview of Van Uden Progress
TG Metals Ltd (ASX – TG6) has provided a significant update on its Van Uden Gold Project in Western Australia, highlighting progress in both exploration and mining activities. The company is advancing plans to generate near-term cash flow by processing historical stockpiles through third-party facilities, while also preparing for in-pit drilling to better define and potentially expand the existing resource.
Stockpile Assay Results and Resource Highlights
Recent drilling of historical stockpiles at Van Uden has returned encouraging assay results, with a total of 60,232 tonnes averaging 0.84 grams per tonne (g/t) gold. Notably, a high-grade laterite resource has been delineated, comprising 12,496 tonnes at 2.55 g/t gold. This laterite mineralisation, located near surface, offers a compelling opportunity for early-stage processing and cash flow generation, given its favourable grade and accessibility.
In-Pit Drilling and Tasman Open Pit Extensions
The company has secured approval for a Program of Work (POW) to conduct close-spaced drilling within the historic Tasman open pit. This drilling aims to interrogate the mineralisation model, which indicates approximately 26,675 tonnes at 1.6 g/t gold within the existing pit shell, with potential for extensions beyond the current boundaries. The in-pit drilling program is expected to refine resource estimates and identify higher-grade zones, supporting future mining plans.
Strategic Approach and Third-Party Processing
TG Metals is actively engaging with third-party processing facilities, having secured treatment agreements that will enable the company to commence processing stockpiles promptly once regulatory approvals are in place. This approach is designed to accelerate cash flow generation without the immediate need for capital-intensive infrastructure development. Discussions remain ongoing to optimise these arrangements and expand processing options.
Project Context and Outlook
The Van Uden Gold Project, situated within the prolific Southern Cross Greenstone Belt, hosts an inferred and indicated gold resource estimated at 227,000 ounces. Its proximity to established gold mines and processing plants in the region enhances its strategic value. TG Metals’ CEO, David Selfe, emphasised the company’s focus on unlocking value through both stockpile processing and resource definition drilling, highlighting the potential for near-term production and longer-term resource growth.
Bottom Line?
With stockpile processing agreements secured and in-pit drilling imminent, TG Metals is poised to translate exploration success into tangible cash flow at Van Uden.
Questions in the middle?
- What are the timelines for commencing stockpile processing and generating cash flow?
- How will in-pit drilling results impact the overall resource and mine planning?
- What are the terms and capacity of the third-party processing agreements?
