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$TAR.AX Taruga Minerals. Focused on IOCG in South Australia. Share structure loose by Cdn Venture standards but the Aussies tend to not care about that. Market Cap ~A$25m. CEO @thomasline8, recent appointment to board is @croninpd of Adriatic Minerals. Top 20 owns 67%. 1/
The Flinders project sits within the G2 Structural Corridor in Grawler Craton, home to all of South Aus's major Cu projects and all of SA's IOCG. eg) Olympic Dam & Carrapateena. Grid power, rail running through the lease located 80kms from Port Augusta which is close to ports. 2/
The area of the project is 647km^2. Adjoining Torrens property is 818km^2. Within Flinders they note they are getting very similar geochemistry results and alteration style from Jenkins North down to Mt Stephen (distance of 15km), potentially indicating a common source. 3/
At Metabase, they have 3km long magnetic anomaly. They have Mt Stephen Thrust running down the middle, which is known to contain Cu, Ag and Au. They have rock chips showing Cu mineralisation over 2.5km. Individual soil results of 450ppm Cu, multiple results over 100ppm Cu. 4/
Here is an image showing what they know about structure in this part of the system. Mt Stephens Thrust down the middle with multiple cross cutting structures. 5/
They are seeing high grade Cu outcropping at surface and have just received their highest rock chip grade yet of 26% Cu in southern portion of image where the anomaly widens out to 500m width. They feel there is excellent potential for mineralization just below surface. 6/
So, they are refining targets now and will commence their maiden drill campaign in late September or early October. Taruga has $2m in cash. Early stage of course but I almost always have a few of these tucked away in my portfolio. 7/7 https://tarugaminerals.com.au/project/flinders-iocg/
