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ASX: TAR - Taruga Minerals

Taruga Minerals: Taruga enters land of the giants with stunning new gold/copper projects

Taruga Minerals Technical Director Dave Chapman on 6PR Bulls N' Bears Report


Listen to ASX-listed Taruga Minerals Technical Director Dave Chapman talk to Matt Birney on the Bulls N’ Bears Report about Taruga’s two new projects that are surrounded by 20 million and even 30 million-ounce gigantic gold resources in PNG.


TO LISTEN TO THE TARUGA MINERALS AUDIO INTERVIEW - CLICK BELOW



Taruga Minerals has just locked up what looks to be a transformational 12-month option over a shallow, high-grade epithermal gold system in PNG, the East Normanby project on Normanby Island and also a large porphyry copper-gold complex at the Kol Mountain project on New Britain Island, also in PNG, a jurisdiction known for its biblical scale copper-gold deposits. Both projects come with some serious historical exploration work and notably, the deal is being corner-stoned by the two founders of the $2b Adriatic Metals, Eric De Mori and Paul Cronin.


RADIO INTERVIEW - TRANSCRIPT


Matt Birney - Welcome to Bulls N' Bears, brought to you today by gold and copper explorer, Taruga Minerals


Matt Birney - ASX code: TAR.


Matt Birney - I'm Matt Birney, and I'm joined now by the Technical Director of Taruga Minerals, Dave Chapman.


Matt Birney - Hi, Dave.


Dave Chapman - Hello, Matt. How are you?


Matt Birney - I'm good. All right. So Taruga Minerals has just locked up what looks to be a transformational 12-month option over a shallow, high-grade epithermal gold system in PNG, the East Normanby project on Normanby Island and also a large porphyry copper-gold complex at the Kol Mountain project on New Britain Island, also in PNG, a jurisdiction known for its biblical scale copper-gold deposits. Both projects come with some serious historical exploration work and notably, the deal is being corner-stoned by the two founders of the $2b Adriatic Metals, Eric De Mori and Paul Cronin.


Matt Birney - All right, Dave, within your East Normanby project, I can see you've got a thing called the Weioko deposit. Looks like there's been some pretty serious historical trenching work done there. What do the numbers look like?


Dave Chapman - We have one trench which gave us 108 m at 2.4 grams per tonne gold and that includes a 28 m section at 4.9 and an additional 4 m at 21.9. We have another trench 68 m at 5.9 grams per tonne and that includes a 4 m section at 58.9 grams.


Matt Birney - Certainly good numbers. Has Weioko seen any historic drilling or is it all trenching for now?


Dave Chapman - There is quite a bit of drilling done up to around about 2009. So in there again from surface in fact we've got some fantastic intersections 64.6 m at 2.22, which includes some higher grade 2.9 m at 33.9 grams per tonne gold. We have another one 36 m at 2.7 grams per tonne, which includes a very substantial 18 m section at 3.6 grams per tonne gold. And finally, 51.4 at 2 with a higher grade section of 3 m at 16.3 grams per tonne gold.


Matt Birney - Yeah. Okay. Well, switching to the north now, your second project up there in PNG, Kol Mountain. What are the standout historical porphyry copper drill numbers that caught your attention up there?


Dave Chapman - Well, one of the things is that all of these intersections at Kol Mountain were from surface and this is on one of two for porphyry prospects within the area. So the Esis prospect gave us 222 m at 0.38 copper from about 3 m depth and another hole 184 m at 0.3% copper from about 2 m.


Matt Birney - There's a shear hosted gold play up in that project too when I look at the maps. Is that right?


Dave Chapman - That is right. To the north of Esis there's a second porphyry copper prospect called Bukuam. And on the southern side of Bukuam is an epithermal vein and skarn prospect which was identified by CRA. So they conducted some extensive trenching and drill three holes. They got some results. 35 m at 3.8 grams per tonne gold which include 5 m at 13 and 17 m at 5 grams per tonne.


Matt Birney - Yes, certainly big numbers.


Matt Birney - Dave Chapman from Taruga Minerals.


Matt Birney - Thanks for joining me on Bulls N' Bears and remember we're only here to give you information, not advice, which you should of course seek independently.


Matt Birney - I'm Matt Birney and this is Bulls N' Bears.


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