Total
0
Shares
Taruga Minerals (ASX:TAR) - CEO Thomas Line
CEO Thomas Line
Source: Taruga Minerals
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Taruga Minerals’ (TAR) subsidiary receives a $300,000 refund from the South Australian government
  • The refund follows Strikeline Resources’ exploration at the Mt Craig copper project, which met the requirements of the grant awarded under an accelerated discovery initiative
  • The company says the $300,000 refund ensures it remains well funded to continue activities in 2022
  • Taruga Minerals have dropped 6.67 per cent, trading at 4.2 cents

Taruga Minerals’ (TAR) subsidiary, Strikeline Resources, has received a $300,000 refund from the South Australian government.

The refund follows expenditure at the company’s Mt Craig copper project, which is situated within the Adelaide Geosyncline in South Australia.

Strikeline Resources’ exploration at Mt Craig met the requirements of the grant awarded under the accelerated discovery initiative, which was announced in May 2021.

The initiative was targeted at exploration projects that test innovative exploration concepts and technologies and have the potential to lead to new mineral discoveries and establish new mineral frontiers.

The company’s exploration efforts included reverse circulation and diamond drilling, geophysics and detailed mapping.

“We are grateful for the South Australian government continuing support for the minerals exploration sector,” CEO Thomas Line said.

“The $300,000 refund follows various high-impact exploration programs at the Mt Craig copper project, and ensures we remain well funded to continue activities in 2022.”

The news follows recent drilling at the project which saw a 2000-metre reverse circulation drilling program begin at the Morgan’s Creek prospect.

Taruga Minerals dropped 6.67 per cent, trading at 4.2 cents at 1:42 pm AEDT.

TAR by the numbers
More From The Market Herald

" RocketBoots (ASX:ROC) lists on ASX after $4.25m IPO

Software company RocketBoots (ROC) has debuted on the ASX today after raising $4.25 million through an initial public offer (IPO).

" Gladiator Resources (ASX:GLA) begins exploration at Minjingu

Zeus Resources, a wholly-owned subsidiary of Gladiator Resources’ (GLA), has begun exploration activities at the Minjingu Uranium Project.
Traffic Technologies (ASX:TTI) - Non Executive Chairman, Mark Hardgrave

" Traffic Technologies (ASX:TTI) raises $3.4m from rights issue

Traffic Technologies (TTI) has raised $3.4 million to repay existing debt and bolster its working capital balance.
Mineral Commodities (ASX:MRC) - CEO, Jacob Deysel

" Mineral Commodities (ASX:MRC) updates MRE at Tormin Inland Strands

Mineral Commodities (MRC) has updated the mineral resource estimate (MRE) for the Western Strandline at the Tormin Inland Strands deposit in South Africa.