TG Metals Unveils High-Grade Lithium Discoveries at Jaegermeister
TG6 (TG6) Share Update August 2024 Thursday 8th
TG Metals Announces Promising Lithium Drilling Results at Jaegermeister
TG Metals Limited (ASX:TG6) has announced promising results from its recent exploration drilling at the Jaegermeister prospect within the Lake Johnston Li-Ni-Au Project in Western Australia.
Instant Summary:
- 19 drill holes completed for a total of 3,472 meters.
- Multiple intersections of spodumene-bearing pegmatites with high Li2O grades.
- Highest assay result of 2.68% Li2O.
- Jaegermeister demonstrating similar size extent to Burmeister.
- Seismic results show potential for additional Jaegermeister pegmatites.
Exploration Drilling Results
TG Metals Limited has completed 19 reverse circulation (RC) drill holes at the Jaegermeister lithium prospect, totaling 3,472 meters. The majority of assays have been received, confirming multiple intersections of spodumene-bearing pegmatites with high Li2O grades and widths up to 10 meters.
Highlighted results include:
- 10.0m @ 1.19% Li2O from 73.0m, including 2.0m @ 2.07% Li2O from 77.0m
- 6.0m @ 1.38% Li2O from 76.0m, including 2.0m @ 2.00% Li2O from 76m
- 3.0m @ 1.22% Li2O from 49.0m and 3.0m @ 1.24% Li2O from 63.0m, including 1.0m @ 2.68% Li2O from 50m
CEO's Statement
David Selfe, CEO of TG Metals, expressed his enthusiasm about the results, stating, 'These are outstanding results for the initial drilling on Jaegermeister. It provides confidence that we have at least two areas of high-grade lithium mineralization at Lake Johnston and further enhances the potential for a standalone spodumene lithium project for TG Metals.'
Seismic Interpretation and Future Plans
Seismic field data acquired for two traverse lines over the Burmeister and Jaegermeister trends have shown promising results. The seismic survey successfully detected pegmatites at Target A, identified by this recent drilling program. The seismic section indicates reflective surfaces and potential pegmatites continuing to depths beyond 800 meters below the surface.
Drilling at Lake Johnston has been temporarily suspended due to inclement weather but will resume at Burmeister when conditions allow. Further flora and fauna surveys will be conducted during spring over the Burmeister deposit and adjacent areas to prepare for resource development.
The high-grade lithium findings at Jaegermeister are likely to positively impact TG Metals' stock as investors react to the promising results. The potential for a standalone spodumene lithium project enhances the company's growth prospects and could attract further investment.
Investor Reaction:
Analysts are expected to react positively to the high-grade lithium results, noting the potential for significant resource development at Jaegermeister. The similarity in size and extent to the nearby Burmeister deposit adds to the project's attractiveness.
Conclusion:
Investors should keep an eye on TG Metals' future drilling updates and the finalization of the seismic data interpretation. The company's strategic response to these promising results will be crucial in maintaining investor confidence and driving long-term growth.