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Progress Tracker

TechGen Metals ��ASX: TG1

Disclaimer: We are NOT geologists - this document is used by our team to internally to try and track TG1’s progress with its drilling program, it should not be relied upon by anyone to make any decisions. This document will change over time as the project evolves. For all disclaimers and disclosures please visit our website.

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16 May 2022 - TG1 Acquires NSW gold project

TG1 acquires rights to a 90% ownership in the Jackadgery gold project.

Deal summary:

Vendor turning attention away from gold into lithium.
Project last explored between 1983-1985.
NEVER been drilled before.
Surface trench with 160m of gold mineralisation at an average grade of ~1.2g/t.
Rock chips returned grades as high as 18g/t.

TG1 pays:

$133k in TG1 shares at 20c per share.
$20,000 upfront cash.
$2.5m in deferred payments (Most of which is settled after the project is put into production).

Read our full commentary on this news

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16 June 2022 - Massive geophysical (IP) target modelled

Key Takeaways:

Geophysical anomaly identified, right underneath the previous trenching work (where gold mineralisation was found at surface over 160m at 1.2g/t). �
Anomaly also sits underneath the areas where high grade rock chips were taken (grading up to 18g/t).

Read our full commentary on this news

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26 July 2022 - RC Drilling program starts.

Key Takeaways:

TG1 starts an RC drilling program to test right underneath the surface trench and into the guts of the geophysical anomaly previously identified.

Read our full commentary on this news

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We set up our expectations for the drilling program:

Noting that this is TG1’s first ever drilling program our bullish/base/bearish case expectations are as follows:

Read our full commentary on this news

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01 September 2022 - Gold system found with first ever drillhole?

Read our full commentary on this news

Potential gold system found with first ever drillhole

Key takeaways:

Assay measuring 68m with an average gold grade of 1g/tonne.
High grade interval of 23m at 2.02g/t and peak grades across the intercept of up to 13.8g/t gold.
All of this mineralisation is FROM SURFACE

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12 September 2022 - Gold Discovery confirmed from maiden drill program

All 7 drill holes of the maiden drilling program returned intercepts of greater than 1 g/t gold.

This included a number of exceptionally broad gold intersections, including 66m grading 1.14 g/t, and 17m at 1.08 g/t gold from 109m (in hole JBRC006).

Managing Director, Ashley Hood: “This is exactly what we hoped for, another exceptionally broad zone of mineralisation with higher grade intercepts. This amazing asset now has serious upside! [...] John Bull could turn into a beast. New exploration stages are already being implemented.”

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What do we want to see next?

Further exploration activities are now being planned to:

Assess the size potential of the mineralised system discovered at John Bull and
Explore the remainder of the project area which has been subjected to only minimal historic exploration.