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Exchange:ASXUpdated: 10:02AM 20/08/2022 AEDT

Lake Johnston Project

The Lake Johnston Project is a new tenure covering +50 km strike of Lake Johnston Greenstone Belt, which consolidates the southern region for the first time.

  • Total tenement area of 337km2
  • Favourable komatiite host for nickel sulphide extends for the entire length of Project
  • Contemporary geological model for intrusive nickel sulphide formation not previously considered
  • New generation geophysics better suited to penetrate deep weathering and identify mineralisation under conductive cover
  • Extensive historical work provides a good foundation for exploration

The Location

Located between two prolific WA greenstone belts, the Lake Johnston Greenstone Belt is geologically similar to the prolific gold and nickel producing Norseman-Wiluna and Southern Cross greenstone belts. Historically overlooked and under-explored – Lake Johnston was never the main project focus for the “nickel majors” that held the ground historically. TG Metals has the most significant land package ever held by one company in the history of exploration within the Lake Johnston Greenstone Belt.

Historical Komatiitic Nickel Focus

The project has significant untested potential for nickel sulphide mineralisation. Nickel sulphide hosting ultramafic rocks are mapped south from the Emily Ann – Maggie Hays mining centre – through the whole Lake Johnston Project. Basement/fresh rocks are not well tested for sulphide mineralisation. Multiple indicators of sulphide mineralisation require followed up Numerous geophysical conductors identified remain untested or poorly tested – potential indicators of massive sulphide mineralisation. Modern higher-powered techniques, better suited to test for sulphides below weathering profile, to be employed at priority target areas. Project well leveraged off past exploration data and refined techniques.

Defined Ni Co Laterine Deposits

The majority of the historical drilling is shallow – testing only the oxide material. Multiple drill results of +1% nickel and cobalt up to 6,900 ppm defines large nickel-cobalt oxide (surficial/lateritic) deposits. Any “Exploration Target” for nickel-cobalt oxide deposits stated by past operators is not compliant with the JORC Code – TG Metals is currently updating target numbers. Presents a compelling early resource definition activity post IPO. Less than 140km to Ravensthorpe Nickel Operations.

Lithium & Gold Prospectivity

Lithium is a critical component for rechargeable batteries. The Lake Johnston Greenstone Belt hosts defined Lithium-caesium-tantalum (LCT) pegmatites – a source of about one-fourth of the world’s lithium production and most of the tantalum production. A Recent target generation work by LCT expert geologists has identified the Lake Johnston region as highly prospective for LCT pegmatites, Charger Metals Limited (ASX:CHR) has had recent exploration success on strike from TG Metals ground. Virtually no historical exploration within TG Metal’s Lake Johnston Project has tested for lithium. Exploration for LCT pegmatites will run in tandem with the nickel sulphide exploration focus. As past exploration has been dominated by nickel producers and explorers, gold prospectivity is relatively untested.

Exploration Strategy

Despite a long history of exploration in the Lake Johnston Belt, surficial cover and deep weathering have made discovery a challenge. There is an increasing reliance on geophysics and deep drilling techniques to define bedrock geology and alteration related to mineral systems. Modern geophysical systems are far superior to past techniques that have previously been implemented at Lake Johnston. In particular, the current electromagnetic (EM) geophysical tools are effective in identifying the extremely conductive massive sulphide bodies associated with magmatic nickel, copper, cobalt and PGE systems, at depths much greater than previously investigated within the Project. Due to these factors within the Lake Johnston Belt, the intrusive related nickel sulphide systems are underexplored.

The Company intends to employ modern more powerful EM techniques where there is potential for the conductive targets not being fully tested or completely missed in past exploration.