Nice to see Guy Le Page gave TAR a mention today. “It’s good to...

Nice to see Guy Le Page gave TAR a mention today.

“It’s good to see the likes of cashed up ($4.1 million) Taruga Resources Ltd (ASX:TAR)(figure 8) having a real crack in South Australia. The state, that derives its revenue from agriculture, Olympic Dam, wine and making movies about mass murders (or documentaries depending on who you talk to), could certainly use a little exploration success.

The Company has locked on to some high-grade surface copper showings at its 100% owned Mt Craig Copper Project (figure 9 ) in the process identifying a 34km mineralised breccia incorporating numerous old workings. With little modern exploration, the Company is bullish about its chances particularly with the recently identified magnetic and gravity anomalies that remain untested.

The Wyacca copper discovery is the most promising prospect to date with a number of RC drill holes returning high grade hits including WCR 006 with 5 metres @ 2.4% copper and WCR 021 with 11 metre at 1.5% copper (figure 9).

TAR announced (13 July 2021) that results from a 22 hole, 2,100 metre RC program that targeted the Morgan’s Creek breccia (figure 10) are due in mid-August 2021. The program anomalous copper and zinc within the diapiric breccia and included oxidised sediments and reduced black shales differentiated dolerites and hematite-altered breccias.

Mineralisation appears to be hosted by reduced black shales similar to the Tindelpina Shale Member which host the high-grade copper mineralisation found ~30 km north along strike at the Wyacca Prospect. Cu:Zn values appear to have similarities, according to TAR, with Zambian-style base metal mineralisation.

The majority of mineralisation found in the Adelaide Geosyncline have been relatively small, with a number exceptions, so let’s hope the geophysics is pointing to something bigger!



At RM Corporate Finance, Guy Le Page is involved in a range of corporate initiatives from mergers and acquisitions, initial public offerings to valuations, consulting, and corporate advisory roles.”