TechGen Metals Limited (ASX:TG1) Announces Farm-In Agreement with Novo Resources
Farm-In Agreement Details
TechGen Metals Limited (ASX: TG1) has entered into a Binding Farm-In Term Sheet with Novo Resources Corp (ASX: NVO). This agreement aims to advance the John Bull Gold Project located in New South Wales, allowing both companies to collaborate on exploring the project’s potential. TechGen anticipates significant progress through this strategic partnership.
Project Overview and Historical Significance
The John Bull Gold Project, situated east of Glen Innes, boasts a rich history with approximately seven historical shafts, notably the main John Bull shaft established in the mid-1880s. Previous mining activity has suggested considerable gold potential, with historical trenching returning results such as 160 metres at 1.2 g/t Au.
Modern Exploration Efforts
In 2022, TechGen completed its first-ever drilling campaign at John Bull, producing promising results, including standout intersections of 68 metres at 1.0 g/t Au from surface. The project remains a primary focus for TechGen, highlighting the significant exploration potential across its areas, including multiple gold anomalies.
Future Outlook
TechGen continues to prioritise advancing the John Bull Gold Project under the farm-in agreement with Novo Resources. This collaboration positions the company to unlock value from a historically rich gold region, reinforcing its commitment to exploration and development.
Motley Fool contributor Lauren Surplice has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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