Taruga Expands in Cote d'Ivoire
Perth, Oct 31, 2014 AEST (ABN Newswire) - Taruga Gold Limited (
ASX:TAR) (Taruga or the Company) is pleased to announce that it has been granted the Tiebissou concession in Cote d'Ivoire. Taruga is now the 100% owner of FIVE granted concessions within this highly prospective, yet very underexplored region of Birimian geology.
Taruga's extensive landholding in Cote d'Ivoire is approximately 2,000km2 with all concessions located within known mineralised belts and situated close to major structural zones and previous discoveries (Figure 1 in link below).
Taruga has commenced a campaign of geological reconnaissance and geochemical sampling of these granted concessions and expects to continue this work for the field season, with a focus on infill and delineation of priority areas for reconnaissance drill testing.
The granting of Tiebissou continues the recent progression of the Targua strategy, which is to construct a world-class portfolio of West African assets that are highly prospective and capable of being quickly progressed.
Highlights:
- Tiebissou located in central Cote d'Ivoire along strike from the operating gold mines at Agbaou and Bonikro and immediately south of a Resolute Mining Limited concession
- Tiebissou concession contains extensive artisanal workings and strong geochemical anomalies identified in historic sampling
- Tiebissou has 20km of prospective strike length, with numerous major geological structures mapped and geochemical anomalies identified.
- Dabakala Concession - geochemical sampling of a 15km prospective zone with historical stream sediment samples including 102ppb Au, 72ppb Au and 300ppb Au
- Korhogo Concession - geochemical sampling of areas of artisanal working and geological structures commenced. Concession is adjacent to area of anomalous drilling completed by Perseus Mining Limited.
Commenting on the granting of the Tiebissou concession, Managing Director Bernard Aylward stated: "The granting of the Tiebissou concession continues our successful acquisitions in Cote d'Ivoire where our in-country team continues to work closely with the Government to ensure the timely approvals of our applications. We have targeted this highly-prospective region and focused on obtaining high-quality early stage concessions in areas of identified zones of gold mineralisation. Taruga has commenced an exploration program in Cote d'Ivoire and anticipates being able to report results from the field work in the coming months."
Tiebissou Concession
The Tiebissou concession (306km2) has been granted for an initial period of four years. The concession is located in central Cote d'Ivoire and is along strike from the Agbaou Gold Mine (Endeavour Mining Corporation) and the Bonikro Gold Mine (Newcrest Mining Limited). The exploration is at an early stage for the concession, however previous surface geochemistry has highlighted zones of geochemical anomalism that are a high-priority target for immediate exploration (Figure 2 in link below). It is noted that the surface geochemical anomalism continues to the north of the concession into ground held by Resolute Mining Limited, and recent reports1 indicate Resolute have commenced infill soil sampling of the large gold and multi-element anomaly identified in 2009.
Taruga is planning to undertake an initial exploration program at Tiebissou to follow up on the known soil anomalism and artisanal workings, as part of its regional exploration work with Cote d'Ivoire.
Cote d'Ivoire Exploration Campaign
Taruga has commenced a geochemical sampling campaign in Cote d'Ivoire to begin to prioritise the project areas and rapidly advance high-priority targets to drill ready status.
The program will consist of a series of reconnaissance spaced and infill geochemical soil and stream sediment samples and will target areas of geological complexity, artisanal workings and historic gold anomalism.
The exploration campaign has commenced at the granted Dabakala, Korhogo and Mangkono concessions and will also include work at the newly granted Tiebissou.
Dabakala Concession
Taruga has a program of surface geochemical samples targeting a zone of artisanal workings and major geological structures (Figure 3 in link below). The project is at an early stage of exploration, with minimal exploration completed, however historic stream sediment samples collected in the area have identified gold mineralisation associated with the major structures and returned results up to 102ppb gold within the concession area. Taruga intends to follow this area up as a priority to determine the size of the geochemical anomaly and potential for significant gold mineralisation.
Korhogo Concession
The Korhogo concession is located in the northern portion of Cote d'Ivoire and is a 360.6 km2 concession with a three year term.
The concession is at an early stage of exploration and initial field reconnaissance has identified areas of significant artisanal workings and prospective geological structures and units. The program for initial geochemical sampling will target the northern portion of the concession where it is interpreted that a "pressure shadow" at the margin of a granitic intrusion may develop a favourable environment for gold mineralisation to focus. This area has identified artisanal workings, and on adjacent ground recent aircore drilling was completed by Perseus Mining Limited that returned highly anomalous results.
Taruga will continue the geochemical sampling campaign in Cote d'Ivoire for the field season with the aim of developing key prospect areas to drill status through infill geochemical sampling and trenching.
To view figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-TAR-697915.pdf
Contact
Bernard Aylward
Managing Director
Taruga Gold Limited
Mob: +61 418 943 345
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