TAR

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1.0¢ taruga minerals limited

Ann: DD Drilling Update, page-15

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Joshdoofus

106 Posts.

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23/05/18

10:28

Post #: 33265719
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Originally posted by kellbys ↑

Think the market really has missed the magnitude of the amount of high grade Cobalt mineralisation in the first hole drilled by TAR.

There was a staggering 85m of high grade Cobalt mineralisation ranging from 1% to 3% Cobalt sulphide.
Not only are the grades mind blowing impressive, but the widths of mineralisation are unheard of. Most ASX list Cobalt stocks would be lucky to have widths of 20m of Cobalt mineralisation let alone 85m. That really is massive and we have good amounts of Copper as well.

KMDD001 was designed to twin KCC/Gecamines diamond hole KBGU18 and was drilled down to 264m. An excellent correlation exists between stratigraphic sequences comprising the Mines R2 Series in both drill holes. Two main zones were reported in KBGU18.
These included:
19.5m at 1% Co from 34.6m (*RSC)
5.1m at 1.5% Co from 54.1m (*RSF)
26.5m at 2% Co and 1% Cu from 78.1m (*Lilac RAT)
3m at 3% Co and 4% Cu from 209.6m
32.2m at 3% Co and 0.5% Cu from 215.9m (*RSC).

I have never seen grades this high over widths like this before ever and can not find another stock that has anything similar. I have said it before that Klaus Eckhof has found TAR the best damn Cobalt/Copper play with not 1 but 7 potential high grade Cobalt tenements right next door to the 2nd largest Cobalt deposit ( KCC with 400,000 t Cobalt) in the DRC. The only reason Glencore and Gecamines didn't develop these tenements themselves back in 2012 when they drilled, is that they were looking for high grade Copper not Cobalt which was poorly priced back then.

So we now have a MC of $27 Million compared to EUC with a MC of $73 Million which is still 3 times that of ours. EUC are scratching around in old Nickel/Cobalt mines in Europe looking for tiny veins of Cobalt hundred of metres underground and have a MC 3 times that of TAR who have now proven to have the motherlode of Cobalt and yet our share price languishes.

TAR only has 115 Million shares on issue and top 20 hold a massive 67%. When the market finally wakes up to the enormous potential of this stock it will rerate rapidly.

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Two questions from an amateur (I am a holder too)

1/ I understand why you're saying Glencore and Gecamines didnt develop/explore this more initially, but I am still a bit suspicious about why they were willing to sell and not develop these areas now? Thats a strange move dont you think?

2/ You mention width, but we still dont have even idea of that right? We know that there are intercepts on the way down, but we have no idea how wide the strike is? Presumably its not just 1 meter horizontally, but right now, we have no clue until they either do further drilling or non-vertical drilling right?

TAR Price at posting: 24.0¢ Sentiment: Buy Disclosure: Held
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Ann: DD Drilling Update, page-15

Top Stories

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Watchdog takes Webjet to court over alleged 'false' flight prices with hidden fees

Chimeric clocks $4.17M R&D tax rebate from Canberra

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