Taruga Minerals Limited presented an update on the company's 100%-owned Mt Craig Copper Project (MCCP). High resolution ground magnetics is underway at Mt Craig, using Taruga's recently purchased ground magnetics unit. Taruga is working with expert geophysical consultants in developing customised high-resolution magnetics survey techniques aimed at identified mineralisation-controlling structures and key alteration zones, in conjunction with existing drilling, surface geochemical, and other geophysics datasets.

The high-resolution ground-magnetics will complement the recently acquired regional aeromag data, with the current focus being on Wyacca where an intensive program of surface reconnaissance exploration and mapping is also underway. Following Wyacca, additional key prospects identified from the interpretation of the March 2022 regional aeromag survey will undergo high-resolution magnetics surveying. This ongoing program is anticipated to be the largest and highest resolution ground magnetics survey conducted in South Australia, and will lead to new insights into the geology and controls on mineralisation.

The key target styles include both sediment-hosted copper and copper-skarn systems intercepted in recent drilling. The current phase of reconnaissance exploration includes: Project scale review and target generation using newly acquired regional aeromag data, radiometrics and spectral datasets. This builds off existing drill data from the 2021/22 drilling programs. Reconnaissance exploration over existing targets and newly identified targets.

Collection of high-resolution magnetics data over key areas of interest to assist with interpretation and drill planning. RC and diamond drill testing of priority ranked targets, commencing in June-July 2022, and aimed at testing a range of copper and critical mineral targets.