Top 20 holding 66.44% of stock. Management team holding 9.1% .
Only 115 Million shares on issue currently. Very tightly held so little free float, hence it will run up hard on positive results in coming weeks!
Cash: $2.5 Million ( including recent CR funds).
Management team have extensive experience working in the DRC. This is a massive bonus for the Company as these guys know the Country and how to get things done.
Mwilu and Kamilombe are key projects for Taruga in Kolwezi “Klippe”
Both these projects have massive potential for shareholders.
Kolwezi “Klippe”
Covers an area of over 20km x 8km centred on Kolwezi
Host to some of the largest high-grade open pit and underground copper mines.
Mwilu Project – Initial High Grade Cobalt
Assay results up to 16% cobalt from artisanal pits and trenches
Mwilu Project covers an area of 3.36km2
Mineralised R2 Mines series exposed over >4km at surface
Active artisanal mining recovering high grade cobalt, little copper
Initial reconnaissance sampling reported up to 16% Co from artisanal pits and trenches
Taruga evaluating viability of small scale mining operation at Mwilu
Mineralisation down to 350m – strong structural control
Planned drilling to confirm true thickness and grade of mineralisation
This tenement alone at Mwilu could be a Company maker. Cobalt exposed over 4km strike with grades up to 16% Cobalt confirmed from recent trenching assay results and mineralisation known to extend down to 350m depth and also the strong likelyhood of the Company moving to small scale production of close to surface surface Artisanal high grade Cobalt.
Kamilombe Project – High Grade DrillIntersections.
Borders on KCC’s deposits (400,000 tonnes of contained cobalt)
Kamilombe project covers a surface area of 2.37km2
Reconnaissance sampling of artisanal pits reported grades of 2.21% to 5.06% Co
Historic exploration drilling intersected multiple, high-grade cobalt mineralised zones including:
─ 26.5m @ 2% Co and 1% Cu from 78.1m & 32.2m @ 3% Co and 0.5% Cu from 209.6m;
─ 33.6m @ 2% Co from 77.93m
─ 46.8m @ 2% Co from 7m
Company to twin drill these 4 historic high grade drill holes as priority once the Drill is released from Customs in DRC. Those Cobalt grades and widths are seriously impressive and show the massive potential of these tenements!
PR12423 – High Grade Cobalt Mineralisation
Early stage cobalt project
PR12423 covers 5.04km2
3km of mineralised R2 Mines Series thrust faulted to surface
Historical trenching and surface sampling reported anomalous results up to 1.28% Co, maximum of 0.38% Cu
Taruga to conduct outcrop mapping and sampling programmes with follow-up soil sampling and Air-Core drilling
PEPM2315 – Location and Geology
Early stage cobalt-copper project in highly prospective Roan belt
Permit covers an area of 28.35 km2
Roan sediments are interpreted to extend onto licence area
Roan sediments are being mined commercially and by artisanal miners immediately to the east of concessions
Taruga to conduct auger/soil sampling programmes with follow up Air-Core drilling on successful conclusion of due diligence.
Lubumbashi Region – Location and Geology
Early stage cobalt-copper projects
3 concessions covering 82.71 km2
Over 20km of Roan sediments interpreted to transgress licence areas
Roan sediments mined on PR12726 on strike from interpreted Roan lithologies on PR 13728 (under cover)
Extensive artisanal workings along NNW trend
Taruga to conduct auger/soil sampling programmes with follow up Air-Core drilling on successful conclusion of due diligence.
Cobalt price still US $91,000.
Bring on the drilling......
TAR Price at posting:
28.5¢ Sentiment: Buy Disclosure: Held
(20min delay)
