Taruga nabs Gascoyne lease with high-grade | Australian Markets

Share trading volumes in Taruga Minerals spiked considerably larger in the present day with over 4M shares altering fingers after the company formally pulled the set off on its option to amass 100 per cent of the high-grade Thowagee polymetallic project in Western Australia’s booming Gascoyne area.

Under the option deal struck in November final yr, Taruga will difficulty the distributors $85,000 value of shares (priced off the 14-day VWAP previous to settlement) in exchange for full possession of the project.

Taruga Minerals has wasted no time sealing the deal after unearthing a string of eye-watering rock chip assays that lit up the prospect like a Christmas tree.

One standout pattern returned a scorching 26.3 per cent lead, 130 grams per tonne silver, 14.5 per cent zinc, 3.4 per cent copper and almost 1g/t gold in a high-grade cocktail of base and treasured metals. Hot on its heels, one other chip threw up a spectacular 19.7 per cent lead, 130g/t silver, 3.4 per cent copper and a tidy 0.1g/t of gold.

A 3rd pattern taken from altered schist adjoining to an outdated quartz vein working delivered 12.9 per cent lead, 103g/t silver, 0.8 per cent zinc and one other near-gram gold consequence rounding out a trifecta of metal-rich hits that seems to scream additional exploration upside.

Initial sampling throughout the Thowagee tenement has confirmed a juicy, outcropping polymetallic system, with two distinct mineralised trends already mapped. Historic workings and high-grade hits stretch over 800 metres alongside a north-northeast pattern and 350 metres alongside a north-northwest strike, suggesting critical scale potential.

The Thowagee project lies simply west of the outdated Thowagee mine and now varieties half of Taruga’s quickly increasing Gascoyne portfolio, which has ballooned to 416.5 sq. kilometres after the latest acquisition.

In the 1950’s the Thowagee mine produced more than 15t of lead and almost 6 kilograms of silver, with rock chip assays lighting up for lead, silver, copper, zinc—and a sprint of gold.

The new tenement dovetails with the company’s broader strategy to lock up a dominant ground place in a single of WA’s most underexplored and extremely potential polymetallic belts.

With Thowagee now beneath its belt, Taruga says it’s eager to hit the ground working with additional fieldwork and knowledge crunching now underway.

The company is actively following up the thrilling floor outcomes with soil geochemistry, additional rock chip sampling and evaluation of a suite of high-quality geophysical datasets together with magnetics, radiometrics and VTEM.

Of explicit curiosity are the gossanous zones and the constructions controlling mineralisation across the Thowagee Mine space, which may level to a bigger hid system at depth.

Notably, no drilling has but examined the new targets, setting the stage for a doubtlessly transformative maiden drill marketing campaign as soon as geochemistry and geophysics refine probably the most compelling zones.

Taruga seems to be shortly proving that there’s lots of metallic left to be discovered within the Gascoyne. With Thowagee now formally in its arsenal, punters will seemingly be watching carefully because the company’s exploration goes into overdrive within the hunt to unearth the area’s subsequent massive polymetallic discover.

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