Drilling to Commence at Nangalasso and SLAM Projects, Mali
Perth, Oct 22, 2014 AEST (ABN Newswire) - Taruga Gold Limited (
ASX:TAR) (Taruga or the Company) is pleased to announce an impending aircore drilling program within its Nangalasso and SLAM Project areas in Southern Mali (Figure 1 in link below). The program has been initiated following a successful capital raising (refer ASX release 7 October) and is designed to follow up and test a number of high-grade gold mineralised results (including 3m @ 7.84gpt Au) from previous exploration campaigns and exploration beneath extensive artisanal workings. Nangalasso and SLAM both have an extensive strike length of geochemical anomalism, but with very limited drill testing to date.
Managing Director Bernard Aylward stated: "We are excited by the prospects of the current work program at Nangalasso and SLAM. The Company's tenements are highly prospective for gold mineralisation, with all early stage exploration returning highly encouraging results and confirming the geological prospectivity of the targets".
NANGALASSO Priority Drilling Targets
The Nangalasso Project is located in a highly mineralised area. The Company's concessions are located just 15km from the world-class Syama gold mine, as well as being located along strike from the Tengrela prospect delineated by Perseus Mining Limited. The Nangalasso Project has returned highly encouraging results from initial geochemical sampling, as well as the wide-spaced reconnaissance drilling, and this current program is planned to test four priority target areas:
1. Follow up of reconnaissance drilling that has returned 3m at 7.84g/t gold in drill hole NAAC021, including 1m at 13.5g/t gold from 16m and 1m at 7.8g/t gold in drill hole NAAC004.
2. Follow up of January 2014 reconnaissance trench sampling of 7m at 4.3g/t gold, located 200m north of previous drilling, an area with an extensive corresponding geochemical anomaly and artisanal workings.
3. Initial testing of artisanal workings that have been mining high grade quartz lode. Workings extend for over 700m with shafts reaching depths over 15m.
This new target area is associated with a strong geochemical anomaly and excellent geological setting.
4. Testing of extensive surface workings - Field reconnaissance highlights 1,000m x 700m extensive area of artisanal workings returning assay values up to 18.0g/t, 3.6g/t and 3.54g/t gold in March 2014. No previous drill testing has targeted this exciting area and the potential for primary mineralisation underlying the surface anomalism is high.
SLAM Project Drill Program
In addition to the above works to take place at Nangalasso, the Company will also conduct a modest drilling program at SLAM. This program will target a geochemical anomaly with peak values over 2g/t gold, and a major artisanal working that extends for over 700m and is now extracting from primary rock.
COTE D'IVOIRE Geochemical Sampling
Taruga has an extensive landholding in the highly prospective, yet underexplored, Birimian geological sequence of Cote d'Ivoire. The Company has commenced geochemical sampling and geological mapping and reconnaissance of the early stage concessions.
The Company has completed its initial review of the concessions and will target several key areas to focus the geochemical sampling in zones of geological interest, as well as artisanal mining, identified by early geological reconnaissance. The geochemical sampling program is expected to continue for the field season and will define targets for first-pass reconnaissance drill testing.
To view figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-TAR-695880.pdf
Contact
Bernard Aylward
Managing Director
Taruga Gold Limited
Mob: +61 418 943 345
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