Delivers 18g/t Gold, Nangalasso Project, Southern Mali, West Africa
Perth, Mar 5, 2014 AEST (ABN Newswire) - Taruga Gold Limited ("Taruga" or "the Company") (
ASX:TAR) is pleased to announce high-grade gold mineralised results from geochemical sampling of major artisanal workings and additional intersections from ongoing 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 Cote d'Ivoire and Mali (refer ASX announcement 30/07/2013).
Highlights:
- 18g/t gold, 3.6g/t gold and 3.54g/t gold - geochemical samples collected from extensive artisanal workings. Samples targeted the layer of mottled, angular coarse quartz clasts and clay that is the horizon mined on site (Table 1 in link below).
- Extensive artisanal workings - an area of workings over 1,000m x 700m of workings has been identified within the Sotian concession, Nangalasso project. The workings are targeting a gravel horizon that is interpreted to be at the base of transported cover.
- Bedrock Mineralisation - a restricted zone of shafts which are mining residual saprolite material has been observed, and potentially indicates a bedrock source for the mineralisation.
- Trench sampling program - trench sampling continues at Nangalasso with new intersection of 2m at 1.17g/t gold from trench NNTR004. The trench is located in a new area following field reconnaissance locating prospective geology (Table 2 in link below).
Managing Director Bernard Aylward said "We are continuing our exploration program at the exciting Nangalasso Project."
"Our first program sampling shaft material from selected sites across the Sotian artisanal workings has successfully shown the potential for high-grade gold mineralisation. The artisanal workings cover a very large area of 1,000 by 700m with the site expanding as work continues. Our initial program commenced with only 30 samples collected and the number of significant gold values returned is very encouraging and warrant immediate follow-up work".
"The program has highlighted significant geological structures and high-priority targets. Our first pass exploration program continues to return very encouraging results with high-grade gold mineralisation returned in geochemical sampling, trench sampling and reconnaissance aircore drilling. We are reviewing our sampling of the Sotian artisanal workings and determining the most appropriate method of sampling that may include bulk sampling of the shallow material and drill testing of the bedrock geology".
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).
Sotian Artisanal Workings
An extensive zone of active artisanal workings within the Nanagalasso project is located within the Sotian concession. Taruga is undertaking geological reconnaissance and mapping of the area and has completed an initial phase of sampling of a series of shafts and workings. An initial 30 samples have been collected to assist in the geological review of the mineralisation. The geological reconnaissance has indicated that the main focus of the artisanal workings is a mottled, angular quartz rich clay material located at the base of transported cover. It is interpreted that this horizon represents a transported layer, however the coarse angular nature of the quartz clasts indicates a proximal source. The presence of artisanal shafts mining material in the weathered residual bedrock highlights the potential for a bedrock mineralisation to be discovered.
The assay results for the samples collected highlight the potential for high-grade gold mineralisation to be defined. A range of assay results from highs of 18.0g/t gold, 3.62g/t gold and 3.54g/t gold to low level assay results with a minimum of 1ppb gold have been returned. Typical for this style of mineralisation, the assay results exhibit poor repeatability that reflect the distribution of coarse gold within the target horizon (Table 1, Figure 3 in link below)
Additional sampling is planned for the workings including aircore drilling and bulk sampling of the site.
Trenching Program
Trenching continued at Nangalasso during January and February, with an extension to trench NNTR002, 7m at 4.32g/t gold hosted in quartz veining and altered sediments, as well as additional samples up to 2.79g/t gold (refer ASX release 14/1/2014). No additional mineralised intersections were returned with a maximum result of 115ppb gold in the extension.
Geological reconnaissance in the Nangalasso Project area located a new area of outcropping quartz veining and geological alteration located to the east of the existing trenching. During February an additional two trenches were completed with a best result of 2m at 1.17g/t gold in trench NNTR004 (Table 2, Figure 3 in link below). The results was encouraging as it is the first exploration completed in this new area. Additional exploration is planned for this area.
Proposed Exploration at Nangalasso Project
- 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 all figures and tables, please visit:
http://media.abnnewswire.net/media/en/docs/76715-ASX-TAR-669727.pdf
Contact
Bernard Aylward
Managing Director
Taruga Gold Limited
Mob: +61-418-943-345
Simon Hinsley
Investor Relations
NWR Communications
Mob: +61-401-809-653
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