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Taruga Minerals (ASX:TAR) - CEO, Thomas Line - The Market Herald
CEO, Thomas Line
Source: Taruga Minerals
  • Taruga Minerals (TAR) has reported anomalous copper at the Jenkins South prospect which is part of the Flinders Project in South Australia
  • Copper mineralisation was observed from results of a recent auger drilling program that was cut short due to weather and a community enquiry from Traditional Owners
  • Taruga is now in discussions with the Traditional Owners to conduct a project visit and finalise a heritage agreement in recognition of the Traditional Owners interest in the land
  • Unfortunately recent lockdown measures in South Australia caused some delays but once the agreement has been completed, Taruga will recommence drilling
  • Company shares ended the day with no change, trading flat at 4.5 cents

Taruga Minerals (TAR) has identified near-surface mineralisation at the Jenkins South prospect which is part of the Flinders Project in South Australia.

The mineralisation was observed from auger drilling at Jenkins South which had to be paused last month due to weather conditions and a community enquiry from Traditional Owners.

While drilling is limited, significant results have been returned including two metres at 2045 parts per million (ppm) copper from 1.5 metres, three metres at 700ppm copper from 2.5 metres, and seven metres at 405ppm copper.

Newly identified outcropping breccias reported grades of up to 0.6 per cent copper and 0.23 per cent vanadium.

Further, anomalous soils and rock chips have so far defined an anomaly which covers more than one kilometre of the magnetic anomaly at Jenkins South.

"The identification of the first outcropping mineralised breccias at Jenkins at multiple locations, along with magnetite and visible copper sulphides and oxides at Jenkins South clearly demonstrates its potential to host near surface IOCG-style mineralisation," CEO Thomas Line said.

"The. auger program will help us to better understand the true potential at Jenkins South and will assist with better planning for the aircore program which has already been expanded, and which will follow the current Woolshed drilling," he added.

Taruga is currently undergoing discussions with the Traditional Owners and will keep drilling at a halt while engagement continues.

Out of respect for the Traditional Landowners, Taruga will finalise a heritage agreement which recognises the Traditional Owners interest in the land.

While lockdown measures in South Australia have delayed Taruga and the Traditional Owners visiting the project, they hope to do so soon.

Once this and the heritage agreement has been completed, Taruga will restart drilling in areas where there is no Native Title land and no known Aboriginal heritage sites.

Company shares ended the day with no change, trading flat at 4.5 cents.


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