Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-2

QUARTERLY ACTIVITIES REPORT FOR THE PERIOD ENDED
30 SEPTEMBER 2021
Taruga Minerals Limited (ASX: TAR, Taruga or the Company) is pleased to present its quarterly
activities report for the September 2021 quarter.
HIGHLIGHTS:
• Thick Rare Earth Element (REE) mineralisation has been confirmed at the Morgan’s Creek
prospect, along with a range of other Battery/EV Minerals. Notably, drilling confirmed:
o REE mineralisation up to 0.46% Total Rare Earth Oxide (TREO)
o Thick primary Scandium and Vanadium mineralisation intercepted within mafic
intrusions
o Copper, lithium, silver, zinc and strontium mineralisation adjacent to, and
coincident with the REE intercepts
o A diverse “Basket” of Battery Minerals is present within the system at Morgan’s Creek
which appears to be related to mafic intrusions exposed from surface, across the
project area
• Significant copper mineralisation intercepted over 1.2km of strike at Wyacca prospect,
including:
o 5m @ 1.0% Cu from 121m (including 1m @ 2.85% Cu from 121m) in RC Drillhole
WCRC049
o 2m @ 1.0% Cu from 80m in RC Drillhole WCRC034
o 2m @ 1.2% Cu from 36m (including 1m @ 2.2% Cu from 36m) in RC Drillhole WCRC060
• Diamond drilling program completed at Wyacca (3 holes) and ongoing at Morgan’s
Creek (3 holes) – results pending
• Positive progress with the Company’s Section 23 and 21 authorisations sought under the
Aboriginal Heritage Act 1988 (SA)
• Appointment of highly-experienced geologist and senior executive, David Chapman, as
non-executive director.
• The Company remains well funded with ~$2.3 million cash on hand at the end of the
September quarter.