Taruga Reports Lead Up to 19.7% and Silver Over 170g/t at Thowagee

Thowagee Acquisition and Exploration Highlights

Taruga Minerals Limited (ASX – TAR) has taken a decisive step forward in its Western Australian portfolio by exercising its option to acquire 100% ownership of the granted tenement E08/3245, known as the Thowagee Project. This acquisition complements Taruga’s existing contiguous land holdings in the Northern Gascoyne province, expanding its footprint to over 416 square kilometres.

Initial exploration at Thowagee has yielded encouraging results, with rock chip sampling confirming the presence of high-grade polymetallic mineralisation. Notably, samples such as THRK001 returned 17.8% lead and 120 grams per tonne silver, while others showed significant zinc, copper, and gold values. These findings validate historical records of mineralisation and suggest robust potential for further discoveries.

Expanding Mineralisation Trends Through Soil Sampling

Complementing the rock chip data, soil sampling during the quarter has identified new and extended mineralisation trends beneath shallow cover. Lead anomalies have delineated a broader prospective area beyond the initial grid, while gold assays up to 92 parts per billion have revealed a northeast-southwest trending shear zone adjacent to the main workings. These geochemical signatures provide a compelling framework for targeted exploration.

Upcoming Exploration Activities

Looking ahead, Taruga plans to intensify its exploration efforts with an expanded soil sampling program, detailed geological mapping, and additional rock sampling. The company will also deploy gravity and ground magnetic geophysical surveys to refine target identification. Importantly, slimline hand-held diamond core drilling is scheduled within existing workings, pending approvals, to test the continuity and grade of mineralised veins and surrounding altered schists.

Broader Project Portfolio Updates

Beyond Thowagee, Taruga continues to advance its other projects. The Uaroo East and West projects in the Gascoyne region are progressing towards grant, with historical high-grade polymetallic workings and significant structural corridors offering promising exploration targets. In South Australia, the Mt Craig Copper Project remains under evaluation, while the Flinders Project faces regulatory challenges following the denial of Aboriginal Heritage Act authorisations, delaying field activities.

Meanwhile, the company has withdrawn its Manjimup Project tenement applications after reassessing the technical potential and land use constraints. Taruga’s cash position remains solid at approximately $1.618 million with no debt, supporting ongoing exploration expenditure of $96,000 during the quarter.

Strategic Outlook

Taruga’s acquisition and exploration progress at Thowagee mark a pivotal moment in its growth trajectory. The combination of high-grade polymetallic results and expanding geochemical trends sets the stage for a focused drilling campaign that could unlock significant value. However, regulatory hurdles at Flinders and the withdrawal of Manjimup applications underscore the challenges inherent in mineral exploration.