TG Metals Confirms Laterite Gold Resource Expansion at Van Uden
TG Metals' recent drilling at Van Uden reveals extensive near-surface laterite gold mineralisation beyond existing resources, underpinning a promising heap leach development with low capital costs and high recoveries.
- 213-hole auger drilling confirms widespread laterite gold mineralisation
- Laterite resource now 1.05 million tonnes at 0.52 g/t Au with expansion potential
- Heap leach study underway, results expected in 2-4 weeks
- Follow-up aircore drilling planned to define resource growth
- Haul road licence granted improving project access
Extensive Laterite Gold Mineralisation Confirmed
TG Metals Limited (ASX:TG6) has unveiled results from a 213-hole auger drilling program at its Van Uden Gold Project in Western Australia, confirming widespread near-surface laterite gold mineralisation well beyond the current resource footprint. The drilling intercepted gold mineralisation from surface in all holes, with significant assays including 3m at 1.01 g/t Au and 0.8m at 0.87 g/t Au, underscoring the potential for easy and cost-effective expansion of the laterite resource.
Heap Leach Development Gains Momentum
The findings bolster the economics of a proposed heap leach operation targeting the laterite resource, which currently stands at 1.05 million tonnes grading 0.52 g/t Au for 17,700 ounces of contained gold. This near-surface, oxide gold is amenable to heap leach processing with >90% gold recoveries demonstrated in recent testwork, offering a low-capital, near-term cashflow opportunity for the company. A detailed heap leach study is in progress, with results expected within 2-4 weeks, running alongside engineering design, equipment procurement, and financing discussions.
Resource Definition and Project Access Advancing
Building on the auger results, TG Metals plans to commence shallow infill aircore drilling in mid-August to better define the laterite resource and support updated mineral resource modelling. The company is also awaiting assays from diamond core drilling testing down-dip extensions of the deposit and progressing approvals for reverse circulation drilling along strike. Importantly, the granting of haul road licence L77/372 secures uninterrupted access to the main Marvel Loch to Forrestania public road, facilitating logistics for future mining operations.
Strategic Location and Broader Resource Base
Van Uden lies within the Forrestania Greenstone Belt, close to several operating and care-and-maintenance gold processing plants, and near TG Metals' lithium assets at Lake Johnston. The total Van Uden mineral resource estimate stands at nearly 8 million tonnes grading 1.06 g/t Au for 270,800 ounces, with the laterite portion representing a strategic target for heap leach processing. The resource includes 56% in the Indicated category, supporting near-term development studies.
CEO Highlights Potential for Material Economic Impact
CEO David Selfe emphasised the significance of the drilling results, stating they provide a “high degree of confidence that the laterite resource can be easily expanded with cheap infill drilling.” He noted that growing the laterite resource could materially enhance project economics by extending mine life and increasing throughput, positioning the heap leach operation as an important cashflow stream while advancing the broader gold development strategy at Van Uden.
Bottom Line?
TG Metals is poised to leverage its expanded laterite resource at Van Uden to unlock near-term heap leach production, with upcoming drilling and study results set to clarify the project's economic potential.
Questions in the middle?
- How will the upcoming heap leach study influence TG Metals' development timeline and financing options?
- What scale of resource growth can be expected from the planned aircore infill drilling?
- Could the haul road licence expedite project construction and reduce operating costs materially?
