TARUGA MINERALS LIMITED 
In addition, Taruga received very encouraging preliminary results for the regional geochemical sampling program recently completed at Dabakala Project, Cote d'Ivoire (Figure 2 in link below).
HIGHLIGHTS
- Aircore drilling complete at Nangalasso with 74 drill holes for 3,564m. Preliminary results due in January 2015
- Drilling intersected broad zones of quartz veining, alteration and sulphide mineralisation
- Drilling commenced at Kambali prospect targeting extensive surface geochemical anomalies and active artisanal workings
- Dabakala geochemical samples have defined numerous anomalous zones, including an extensive zone of 8,000m x 3,000m anomaly consistent with geological interpretation
- Anomalous values peaking at 198ppb gold returned from very wide-spaced sampling of 2km lines and 250m spaced samples
- High-priority area for follow-up and infill exploration
"Taruga is at an exciting phase of exploration - we are waiting for our drilling results for the Nangalasso Project as well as commencing the first ever drilling campaign at the Kambali prospect. This new target area is defined by extensive artisanal workings and a strong geochemical anomaly. Taruga expects drilling to be completed within 1 week, and anticipates drill results in January 2015." Taruga Managing Director Bernard Aylward commented.
"Our first sampling at the Dabakala project in central Cote d'Ivoire has also returned very encouraging results with several new gold anomalous zones identified. The fact that exploration is at a very early stage in this area and that our survey was on a very wide spacing makes these highly anomalous geochemical samples more interesting. It is clear that this is a high-priority area for further work, particularly as the Government continues to introduce further mining friendly legislation," Mr Aylward added.
Nangalasso Project:
The Nangalasso Project is a highly prospective project located in southern Mali, just 15km from the world-class Syama Mine (Resolute Mining Ltd). Taruga has been actively exploring this project since October 2013 and targeted four key prospects with this aircore drilling campaign (Figure 3 in link below).
The program consisted of 73 aircore drillholes for 3,564m (avg depth 49m, maximum depth 78m, minimum depth 10m) with the majority of holes reaching primary rock. The geology intersected by the drilling consisted of a sequence of sedimentary units and granitic to granodiorite intrusions, consistent with the trenching and field observations.
Preliminary geological logging of the drill holes has reported broad zones of quartz veining (veins up to 4m thick, zones of veining up to 20m width) associated with the areas of artisanal workings as well as zones of sulphide mineralisation (pyrite dominant) and alteration. All samples (three metre composite sampling) has been dispatched to SGS Laboratories Bamako and all results are pending, with expected completion in January 2015.
Kambali Prospect:
Taruga has commenced the aircore drilling program at the Kambali prospect. The Kambali prospect is part of the SLAM Project, located in southeastern Mali, approximately 100km from the capital Bamako.
The aircore drilling program is targeting areas of extensive artisanal workings and geochemical anomalism and is expected to take approximately 1 week to complete.
Dabakala Project, Cote d'Ivoire:
At the Dabakala project in central Cote d'Ivoire, Taruga has completed a large soil sampling program with 414 soil samples and 12 rock chip samples collected (refer ASX announcement 12/12/2014). The program was designed as a first-pass regional test of this highly prospective region, with the sampling grid spacing of 2,000m between lines and 250m between samples along lines.
Taruga has received initial results for the geochemical survey with a new zone of gold anomalism defined within the project area. The samples have returned numerous anomalous values up to a maximum of 195ppb gold (minimum below detection, approximately 37% of samples returned a value of 10ppb gold or higher). Interpretation of the gold anomalous zones indicates a correlation with interpreted geological structures and geological units. The major anomalous zone extends for over 8,000m of strike length and over 3,000m of width. This first pass survey has also defined additional parallel zones extending for over 8,000m and widths varying from 500m to 1,500m wide (Figure 4 in link below).
Follow-up and infill geochemical sampling of this high priority area will be conducted as soon as possible to define zones of interest for potential trenching and drilling campaigns.
Cote d'Ivoire released an updated Mining Code in 2014 and continues to develop legislation that offers incentives for mineral exploration and development of its mining industry. Cote d'Ivoire has approximately 35% of West Africa's Birimian sequence, while neighbouring Ghana has approximately 17% of the sequence. The Birimian Greenstone sequence of West Africa has a gold endowment of over 170million ounces of gold, of which Ghana has an contains over 110million ounces.
Cote d'Ivoire is historically underexplored, however in recent years mining companies have enjoyed successful exploration results. The country now boasts several multi-million ounce gold deposits (including Amara Mining's 6Moz Yaoure deposit and Randgold resources 4.4Moz Tongon deposit), with four commercial scale mines in production.
"The ongoing exploration work continues to confirm that our West African Gold Projects are all located in highly prospective regions within the world-class Birimian sequence. We continue our programs in multiple regions to ensure maximum expenditure into the ground, and to increase the possibility of a major discovery" Mr Aylward finished.
To view figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-TAR-704850.pdf
About Taruga Gold Limited:
Taruga Gold Limited (ASX:TAR) is a West African focused gold explorer that has compiled, and is currently compiling, a diverse portfolio of exploration projects within the Birimian geology of West Africa. This region is at present one of the world's great gold districts and has had a significant rate of discovery and development on new gold mines over past decades.
Source:
Taruga Gold Limited
Contact:
Bernard Aylward Managing Director Taruga Gold Limited Mob: +61 418 943 345
