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Taruga Minerals (ASX:TAR) - CEO, Thomas Line - The Market Herald
CEO, Thomas Line
Source: Taruga Minerals
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  • Junior explorer Taruga Minerals (TAR) has completed a reverse circulation (RC) drilling program at its Mt Craig Copper Project in South Australia
  • The 3000-metre program was designed to target an anomaly highlighted from historical induced polarisation (IP) work at the Wyacca prospect
  • According to Taruga, historical drilling missed the core of the anomaly, though it struck copper mineralisation along the anomaly margins
  • All up, Taruga drilled 30 holes at the Wyacca prospect, with samples from the drilling program now being dispatched to an Adelaide lab for analysis
  • According to Taruga, Wyacca was the first operational small-scale mine at the Mt Craig project, with copper first mined from the prospect in 1863
  • Shares in Taruga Minerals are trading grey this afternoon at 4.8 cents each

Junior explorer Taruga Minerals (TAR) has completed a 3000-metre reverse circulation (RC) drilling program at its Mt Craig Copper Project in South Australia.

The program kicked off on April 6, with Taruga initially planning to only take on 1500 metres of shallow drilling to target near-surface copper mineralisation.

Taruga designed the program to test historical induced polarisation (IP) data at the Wyacca Prospect which highlighted a 1.7-kilometre open-ended anomaly. Despite this IP data, however, historical drilling in the area missed the core of the anomaly, though it struck copper mineralisation along the anomaly margins.

As such, Taruga's drilling program was designed to test the IP anomaly along with interpreted mineralised trends associated with historical mines. After the program began, Taruga decided to double it to 3000 metres of drilling.

All up, the company drilled 30 holes at the prospect.

Samples from the drilling program are now being dispatched to an Adelaide lab for analysis.

The Wyacca prospect

According to Taruga, the Wyacca prospect was the first operational small-scale mine in the wider Mt Craig project area, with copper first mined from the prospect all the way back in 1863.

Taruga said incomplete mining records show that Wyacca was operating with a run-of-mine grade of up to 40 per cent copper in its early years of production, after which higher connected at around 3 per cent copper were mined for a total of 306 tonnes of ore.

Other prospects being explorer by Taruga at the Mt Craig project include the Birthday Ridge, Napoleon, Hawk, Morgan's Creek and Iron King prospects.

On top of the Mt Craig project, Taruga also owns four other projects — two in South Australia and two in Western Australia — prospective for a mixture of copper, gold, iron oxide, nickel and other base metals.

Shares in Taruga Minerals are trading grey at 1:35 pm AEST, worth 4.8 cents each.

TAR by the numbers
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