THE BOURSE WHISPERER: Recently-listed West Africa-focused exploration play Taruga Gold has gained access to a trove of historic drill results for the company’s Kossa project in Niger.
Taruga recovered the data through the Niger Ministry of Mines from archival searches, which was not available at the time of the company’s Initial Public Offering in February.
The historic drill hole data relates to exploration drilling completed by TSX-listed Orezone Gold Corporation in the Kossa–Borobon trend between 2005 and 2008.
Kossa project – Borobon prospect showing gold mineralised trend,
artisanal workings and proposed RC drilling. Source: Company
Taruga has classified the newly-identified gold mineralised trend as a high‐priority target as surface geochemistry, artisanal workings and wide‐spaced reconnaissance drilling has defined it as a zone extending for more than 10 kilometres.
Gold intersections from the historic data include:
– 1 metre at 278.8 grams per tonne gold from 70 metres;
– 1m at 8.96g/t gold from49m;
– 1m at 7.77g/t gold from 62m; and
– 2m at 7.54g/t gold from 34m.
Taruga consider the recently received information confirms a high‐grade gold trend open along strike with no drilling testing of artisanal workings.
The company also believes the continuity of the gold mineralisation zone at the Borobon prospect been highlighted and extended.
Multiple gold mineralised targets over the 10 kilometre trend have also been identified having limited, wide –spaced drill testing.
“Taruga’s 100 per cent‐owned, under‐explored Kossa project has multiple advanced targets and opportunities for the discovery and delineation of gold mineralisation,” Taruga Gold executive chairman Bernard Aylward said in the company’s announcement to the Australian Securities Exchange.
“An extensive program is now underway to define and extend the known gold mineralised zones at Kossa.
“The program will include a combination of reverse circulation (RC) drilling, aircore drilling and aims at delineating new prospect areas with extensive auger geochemical sampling.
“The recognition of high‐grade gold structures is important and we will be following these up with exploration reverse circulation drilling.
“The initial drill results indicate a narrow zone, however the target has only been tested to a shallow depth and remains open along strike where artisanal workings are indicating a potential thickening of the zone.”