Trench samples 7m at 4.31g/t gold from Trench Sampling Nangalasso Project, Southern Mali, West Africa
Sydney, Jan 14, 2014 AEST (ABN Newswire) - Taruga Gold Limited ("Taruga" or "the Company") (
ASX:TAR) is pleased to announce high-grade gold mineralised results from reconnaissance trench sampling at its highly prospective Nangalasso Project located in Mali, West Africa.
The Nangalasso project was acquired by Taruga as part of its major ground position in Côte d'Ivoire and Mali (refer ASX announcement 30/07/2013).
Nangalasso Highlights:
- 7m at 4.3g/t gold - gold mineralisation hosted in quartz veining and alteration located 200m north of anomalous drilling (1m at 7.8g/t gold in drill hole NAAC014*).
- Assays up to 2.9g/t gold from surface - vertical sampling targeting the profile of the trench has highlighted surface gold mineralisation.
- Mineralisation open along strike - trench extends anomalous gold mineralisation to the north, in addition trench samples up to 0.2g/t gold highlight eastern extension of trench remains anomalous.
- Aircore Drilling to commence in January - drilling planned to test trench anomalism and priority targets within Nangalasso project.
"The results at the Nangalasso Project continue to be very exciting. All the early stage exploration, including geochemical sampling, trenching and reconnaissance aircore drilling, highlight the potential for an extensive mineralised system to be defined. The project is very under-explored despite being located in an extensively mineralised area in southern Mali, less than 20km from the 7Moz Syama Gold Mine," Taruga's Managing Director Bernard Aylward said.
"These recent trench results extend the gold mineralisation a minimum 200m north of the wide-spaced reconnaissance drilling that returned gold mineralised intersections. Our geological interpretation indicates that the project is located in a highly prospective region with extensive geological structures with surface geochemical gold anomalism.
"We are continuing our exploration program at Nangalasso with an aircore drilling program to commence in January. The drilling will target four priority areas defined by extensive artisanal workings, strong gold anomalism from reconnaissance exploration and follow-up to previous gold intersections from reconnaissance drilling. In addition, we will continue geochemical sampling, trenching and geological mapping of this highly prospective project area."
Nangalasso Project
The Nangalasso Project consists of two options over granted concessions (Nangalasso and Sotian concessions) extending over an area of 345km2. The option agreements grant the Company exclusive access to the ground for exploration and also grant the right to purchase 100% of the concessions for an agreed amount (refer ASX announcement 5/8/2013).
Taruga has commenced exploration on the Nangalasso project to follow-up the gold mineralised intersections returned from wide-spaced reconnaissance drilling and extensive surface geochemical anomalism.
The trenching program was designed to provide improved geological understanding of the target areas. The initial trench, NNTR002, has been completed 200m to the north of the gold mineralised drill intersection of 1m at 7.8g/t gold in drill hole NAAC014* (refer ASX release 5/8/2013). Geological sampling of the trench has returned significant gold mineralisation up to 7m at 4.32g/t gold hosted in quartz veining and altered sediments, as well as additional samples up to 2.79g/t gold (Table1, Figure 3).
Geological mapping of this trench has highlighted a wide zone of conjugate quartz veining and strong alteration in sediments in close proximity to the granite contact. This site represents a highly prospective zone for mineralisation where the anastomosing structure splays from the granite intrusive creating a structural pressure shadow area in ductile sedimentary units.
Proposed Exploration
- Aircore drilling to follow up previous high-grade gold intersections and undertake a first pass test of the extensive artisanal workings.
- Trench sampling to delineate zones of quartz veining and alteration to target drill holes - IN PROGRESS
- Geochemical sampling of extensions to the gold mineralised trends and add definintion to anomalous areas where sampling is on a wide reconnaissance spacing - IN PROGRESS
- Geological mapping and reconnaissance to target the structural controls and extensions of defined gold mineralised zones and advance prospects for future drill testing - IN PROGRESS
To view diagrams and figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-TAR-664050.pdf
Contact
Bernard Aylward
Executive Chairman
Taruga Gold Limited
Mob: +61 418 943 345
Simon Hinsley
Investor Relations
NWR Communications
Mob: +61 401 809 653
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