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Taruga Minerals : Gravity Modelling Highlights New Copper Targets at Wyacca

11/23/2021 | 05:50pm

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  • New gravity data collected at Wyacca highlights dense zones which cross-cut the ore shales, supporting the model of cross-cuttingore controlling structuresat Wyacca
  • These newly identified zonesare extensive and remain completely untested
  • Density testing on core from recent diamond drilling highlights the ore zones at Wyacca are significantly denserthan the barren rocks above and below
  • Preliminary review of high-resolution ground magnetics (still being processed) has identified magnetic anomaliesalso following linear trends cross-cuttingstratigraphy, and multiple isolated subtle magnetic anomalies which remain untested at Wyacca- magnetic readings on core and RC chip have shown the hypogene ore zonesto be more magneticthan barren host rocks
  • Gravity and magnetic anomaliesrepresenting potential ore zones at Wyacca will be targeted in RC drilling in Q1 2022

CEO Thomas Line Commented: "We are extremely pleased to have identified geophysical tools which will be able to assist us with targeting the high-grade ore zones at Wyacca. All of the new gravity and magnetic anomalies are both denser and more magnetic than the ore zones drilled at Wyacca to date. All of these anomalies remain essentially completely untested, as we have drilled primarily around them. The inherited historical electrical datasets (VTEM and IP) that we have been using to date have been great at mapping the prospective pyritic shale horizon in the hanging wall, however they have posed significant challenges in separating high-grade copper targets form the barren pyritic shales, simply because these electrical methods can't tell the difference between chalcopyrite and pyrite. We have long suspected that cross cutting structures are controlling high-grade mineralisation at Wyacca, and this new data strongly supports that theory. We are looking forward to testing a range of strong new copper targets at the sediment-hosted copper system at Wyacca in Q1 of 2022."

Taruga Minerals Limited (ASX: TAR, Taruga or the Company) is pleased to present the recent results of gravity geophysics modelling at the Wyacca sedimented-hosted copper prospect, at the Mt Craig Copper Project (MCCP).

New gravity data modelling completed by Taruga has highlighted a series of near linear gravity anomalies which cross cut the Tapley Hill Formation and Tindelpina Shale sediments at Wyacca (Figure 1). The anomalies are perpendicular to the strike of the host rocks, which aligns with the hypothesis that high-grade copper mineralisation is controlled in cross cutting structures. Review of the modelling highlights that essentially all drilling to date has missed the anomalies (Figures 1 & 2), and that the anomalies do not align with the VTEM and IP anomalies - which map the stratigraphy well however do not map the copper mineralisation (Figure 1).





Thomas Line

Eric De Mori

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David Chapman



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The Wyacca Project geology was formed in the same geological setting as the Central African Copperbelt, which hosts some of the world's largest and highest-grade sedimentary copper deposits. For example, the Kamoa sedimentary Cu-Co-Ag deposit contains 20Mt of Cu metal, with mineralisation associated with reduced black shales formed in a rift margin environment. At Kamoa, Bonanza zones of very high-grade copper mineralisation are present in semi- isolated pods (Figure 4) which are structurally controlled. These near-linear Bonanza zones (Figure 3) require precision drilling to discover, as contrary to popular belief, the deposit is not simple and consistent.

Specific Gravity (density) testing of the Wyacca diamond core in the ore zones has highlighted that both the supergene and hypogene ore zones are significantly denser than the surrounding host and gangue rock. Therefore, the gravity highs, which align with the interpreted cross cutting ore controlling structures, represent a new exploration tool at Wyacca which may assist in identifying more extensive, high-grade copper mineralisation.

Figure 1. New gravity modelling contours at Wyacca. Note the gravity anomalies cross-cut the stratigraphy which

strikes roughly east-west, supporting the theory that cross cutting structures are controlling the higher-grade mineralisation at Wyacca. Also note the Taruga drilling has essentially not tested any of the gravity anomalies.

High resolution ground magnetics data, collected on a 50m line spacing is still being processed. However, preliminary review indicates further support for the theory that mineralisation is controlled by these cross-cutting structures. Magnetics testing of the ore zones at Wyacca has determined that the hypogene ore zones are subtly more magnetic that the surrounding barren shales. Like the gravity anomalies, preliminary review indicates that essentially all of the linear and isolated magnetics anomalies have not been drill tested. Taruga will release further information on the magnetics once processing is complete, and the

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magnetics will act as another exploration tool which may allow better targeting of the high- grade copper mineralisation at Wyacca.

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Figure 2. New gravity modelling contours over the SFz-16 (shallow time) VTEM image, showing the shallow time VTEM anomalies where previous high-grade intercepts have been hit at Worrumba-19 and Powder Hill. Note the shallow VTEM anomalies are around the edges of the gravity anomalies, which remain untested.

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Figure 3. Example of the linear Bonanza Zone at Kamoa North, DRC, highlighting how high-grade copper

mineralisation can be isolated to structural zones in sedimentary copper deposits.

Figure 4. Example cross section from the Kamoa North Bonanza Zone, highlighting how high-grade copper

mineralisation can be isolated to structural zones in sedimentary copper deposits.

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This announcement was approved by the Board of Taruga Minerals Limited.

For more information contact:

Thomas Line

Eric de Mori



+61 8 9486 4036

+61 8 6169 2668

Competent person's statement

The information in this report that relates to exploration results is based on, and fairly represents information and supporting documentation prepared by Mr Brent Laws, a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy. Processing and modelling of the geophysics have been conducted by Jim Allender, a geophysical consultant to the Company through Allender Exploration. Jim Allender is a member of the Australian Institute of Geoscientists (AIG) and is an experienced geophysicist with over 30 years' experience. Mr Allender has sufficient experience relevant to the style of mineralisation and the type of deposit under consideration. Mr Laws is the Exploration Manager of Taruga Minerals Limited. Mr Laws has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resource and Ore Reserves". Both Mr Laws and Mr Allender consent to the inclusion in this report of the matters based on their information in the form and context in which it appears.

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Taruga Minerals Limited published this content on 23 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 November 2021 22:49:07 UTC.

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