Taruga Minerals Limited advised that it has lodged a successful bid for the Martins Well Project, under the competitive release process. Taruga competed with other South Australian companies for the project, which Taruga considers to be highly prospective for clay hosted rare earth elements (REEs), copper-gold-silver, and zinc-lead. Several prospects have been identified at the Martins Well project, including two large diapiric structures, the Willipa Dome and Martins Well Dome, which are considered broad target areas prospective for clay-hosted REEs, MVT type Zn-Pb-Ag, and Central African style sediment hosted copper. The geology and alteration which has been mapped at both the Martins Well Dome and
Willipa Dome show numerous similarities to that observed to be associated with REE mineralisation at Morgans Creek, therefore these dome structures form initial target areas for
identifying further clay-hosted REEs in the region. In addition to the prospectivity for clay-hosted REEs, Martins Well also has potential for MVT Zn-Pb-Ag+Cu and sediment hosted copper mineralisation. Basal Tapley Hill Formation sediments with recorded copper mineralisation are mapped across the project, and have not undergone any drilling. The basal Tapley Hill Formation contains organic rich black shales prospective for Central African Copperbelt style sediment-hosted copper-cobalt mineralisation, with several recorded deposits located in the region including Wyacca, and Windabout and MG14.