The Van Uden Gold Project is located in the Southern Cross-Forrestania Greenstone Belt, 90km east-northeast of Hyden and 120km south of Southern Cross. It is close to the Marvel Loch (Producing), Cosmic Boy (Commissioning), Edna May (Care & Maintenance) and Lake Johnston (Construction) gold processing Plants.
Van Uden Gold Deposit & Mineral Resource Estimate
On 16 th April 2026 TG Metals reported and published an updated JORC 2012 compliant Mineral Resource Estimate (MRE) statement (ASX: TG6, 16 April 2026)
| Mineral Resource Estimate for the Van Uden Gold Deposit – May 2025 | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Material | Indicated | Inferred | Total | ||||||
| Tonnes | Grade (Au g/t) | Gold (Oz) | Tonnes | Grade (Au g/t) | Gold (Oz) | Tonnes | Grade (Au g/t) | Gold (Oz) | |
| Laterite | 886,000 | 0.56 | 15,900 | 167,000 | 0.33 | 1,800 | 1,053,000 | 0.52 | 17,700 |
| Oxide | 1,976,000 | 1.15 | 73,300 | 414,000 | 0.91 | 12,100 | 2,390,000 | 1.11 | 85,400 |
| Transitional | 1,115,000 | 1.07 | 38,300 | 740,000 | 1.01 | 24,100 | 1,855,000 | 1.05 | 62,400 |
| Fresh | 580,000 | 1.35 | 25,100 | 2,057,000 | 1.21 | 80,200 | 2,637,000 | 1.24 | 105,300 |
| Total | 4,557,000 | 1.04 | 152,600 | 3,378,000 | 1.09 | 118,200 | 7,935,000 | 1.06 | 270,800 |
Table 1: MRE – Van Uden Gold Deposit
NOTES: The Mineral Resources statement conforms to the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) 2012 Edition. All tonnages are dry metric tonnes. The laterite portion of the mineralisation has been reported at a cut-off grade of 0.10 g/t Au by area within a A$6,000/oz Au optimised pit shell. All other material types are reported at a cut-off grade of 0.30 g/t Au by area within a A$6,000/oz Au optimised pit shell based on mining parameters and operating costs typical for Australian open pit extraction deposits of a similar scale and geology.
Minor discrepancies may occur due to rounding of appropriate significant figures. The resources comply with the Reasonable Prospects for Eventual Economic Extraction (RPEEE), a key principle in mineral resource reporting that requires the competent person to demonstrate that a mineral deposit has the potential to be economically extracted in the future.
The updated MRE takes in all historical drilling and new drilling conducted by the Company since acquisition in March 2025. Continuity of the Van Uden gold deposit has materially improved with previous gaps in the model, drilled and filled along the entire 2.5km strike.
Improved understanding of the surface Laterite component of the Resource has led to a lower cut-off grade being applied and generation of a separate Laterite pit shell. This indicates the intended future development pathways for the material types at Van Uden and reflects the Laterite has virtually no waste mining involved, would incur lower mining costs than the Oxide, Transition and Fresh material and has the potential to be amenable to low cost heap leaching technology. The Company is currently conducting testwork to confirm economic parameters for heap leaching of the laterite only material type. Pit shells for Insitu (0.3g/t Au cut-off) and Laterite (0.1g/t Au cut-off) are shown in Figures below.
Heap Leach Laterite Scoping Study
On 29 September 2026 the Company completed a Scoping Study on the potential to heap leach gold bearing laterites from the Van Uden Project. A Summary of the findings is given below:
Scoping Study based on Laterite MRE comprising ~90% Indicated Resources
Excellent initial financial metrics for the Scoping Study include:
- 250,000 tonnes per annum heap leach operation over an initial circa 3 year mine life for total recovered gold of ~13,630 ounces at a 90% gold recovery
- Initial Life of Mine Net Revenue3 of ~A$83.2 million
- Pre-tax free operating cashflow of ~A$48.3 million
- Forecast average All-In-Sustaining-Cost (AISC) of A$2,835/oz
- Pre-production capital cost of A$14.2 million (including contingency)
- Pre-tax NPV8 of ~A$26.8 million
- Pre-tax IRR of ~121%
- Payback Period of ~12 months
Cautionary Statement – Scoping Study
The Scoping Study referred to in this announcement is a preliminary technical and economic assessment of the potential viability of a heap leach development at the Van Uden Gold Project. The study has been completed to an accuracy level appropriate for a Scoping Study and is based on low-level technical and economic assessments. It is insufficient to support the estimation of Ore Reserves or to provide assurance of an economic development case at this stage.
The Scoping Study is based on laterite resources comprising Indicated (89.8%) and Inferred (10.2%) Resources. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the conversion of Mineral Resources to higher confidence categories or that the production targets outlined in this announcement will ultimately be realised.
The production targets and forecast financial information referred to in this announcement are based on assumptions detailed in the Scoping Study and there can be no assurance that all assumptions will prove correct, or that the outcomes indicated by the study will be achieved.
To achieve the range of outcomes indicated in the Scoping Study. Funding in the order of A$15 million will likely be required. Investors should note that there is no certainty that TG Metals will be able to raise that amount of funding when needed. It is also possible that such funding may only be available on terms that may be dilutive to or otherwise affect the value of TG Metals existing shares.
Given the uncertainties involved, investors should not make any investment decisions based solely on the results of the Scoping Study.
Link to: Van Uden Gold Project
Gold City Prospect
The Gold City prospect is located on a single exploration licence, 25km to the south of the Van Uden Group granted mining leases. There are numerous gold workings on the tenement and historical drilling at Gold City was shallow, less than 120m depth, with the prospect providing additional fertile exploration opportunity for TG Metals.
Circa 1950’s historical gold workings along an identified gold trend
