Taruga Minerals Company Profile

Taruga Minerals

A HIGH GRADE COBALT-COPPER PLAY IN THE DRC
Company Exposure

Cobalt – Copper

Company Listing

Cobalt – Copper

Stock Code

ASX: TAR

Company Overview



Taruga Minerals Limited is an exploration company listed on the Australian Securities Exchange (ASX) and is focused on acquiring and developing key commodities required for Electric Vehicle (EV) Batteries, including cobalt, copper and lithium in the Democratic Republic of Congo (DRC) and Australia.

Taruga recently completed technical due diligence drilling on two high grade, advanced Cobalt- Copper projects, Kamilombe and Mwilu, in the Kolwezi “Klippe”, and is continuing to review and evaluate other opportunities prospective for cobalt, copper and lithium in the DRC.

Taruga’s highly experienced Management team led by Mark Gasson and key advisor, Klaus Eckhof, have Taruga well positioned to become a substantial player in the cobalt industry of the DRC and in the global EV Battery sector.

Investment Highlights

  • Favourable technical due diligence completed at Kamilombe and Mwilu in the Kolwezi Mining District supports further drilling
  • High grades included 50.87m at 0.5% Co including 13.68m at 1.2% Co and 42.85m at 0.4% Co including 6.40m at 1.11% Co & 8.40m at 2.7% Cu
  • Following completion of successful due diligence, Taruga will enter into an agreement with the Government of the Lualaba Province and Mint Master to earn a 60% interest in the Mwilu and Kamilombe Projects
  • A strong, highly credentialed Management team and Board, with an extensive network and significant experience operating in the DRC
  • Growing demand for EVs expected to drive demand for battery metals, particularly cobalt
  • Ongoing metallurgical studies to confirm potential for early shallow mining
  • On track to becoming a high grade cobalt producer in the DRC
Live Financials

Latest Announcements

View all company announcements

Share Price Performance

Team

Mark Gasson – Executive Director
Sheena Eckhof – Executive Director – IR
Bernard Aylward – Non-Executive Director
Gary Steinepreis – Non-Executive Director
Daniel Smith – Joint Company Secretary
Jamie Anderson – Exploration Manager

Major Shareholders

Hongze Group – 7%
Mark Gasson – 6%
Board and Management – 14%

Projects Overview


Kamilombe Project
  • Borders on KCC’s Mashamba deposit (400kt contained Co) in the Kolwezi “Klippe”
  • Access to excellent infrastructure
  • High grade cobalt and copper mineralisation defined within multiple stacked horizons over a strike length >1km
    • 13.68m at 1.21% Co from 30.47m within 50.87m at 0.49% Co from 5.8m (KMDD005)
    • 3.04m at 1.45% Co from 36.4m & 5.18m at 1.05% Co from 57.7m within 31.21m at 0.52% Co from
    • 33.1m(KMDD001)
Mwilu Project
  • Covers 3.36km2 within the Kolwezi “Klippe” and borders the city of Kolwezi to the north
  • Access to excellent infrastructure
  • High grade cobalt and copper mineralisation defined over 700m width down to 280m below surface and a potential strike length of 2km
    • 6.40m at 1.11% Co from 282.45m and 8.40m at 2.7% Cu from 269.15m within 42.85m at 0.39% Co from 256.55m (MWDD008)

Cobalt mineralisation defined over >1km strike length, open at depth

  • High grade cobalt intersected in due diligence drilling
  • Best cobalt and copper results included:
    • 50.87m at 0.49% Co from 5.8m including 13.68m at 1.21% Co from 30.47m (KMDD005)
    • 31.21m at 0.52% Co from 33.1m including 3.04m at 1.45% Co from 36.4m and 5.18m at 1.05% Co from 57.7m (KMDD001)
    • 24.5m at 1.22% Cu from 138.3m (KMDD001)
  • Mineralisation within typical Mines (R2) Series stratigraphy
  • Drilling intersected multiple mineralised zones which were duplicated through thrusting and folding
  • Plans to start early, shallow surface mining on positive completion of metallurgical studies through simple concentration processes

Near surface, shallow dipping, mineralised Mines R2 Series lithologies

The Mwilu Project

Mineralisation defined over 700m width down to 280m below surface; potential strike length of 2km

  • Best cobalt and copper results included:
    • 42.85m at 0.39% Co from 256.55m including 6.40m at 1.11% Co from 282.45m & 8.40m at 2.7% Cu from 269.15m (MWDD008)
    • Channel sampling of the same zone at surface reported 9.87m at 0.55% Co
    • 16.30m at 0.16% Co from 31.9m, 46.60m at 0.12% Co from 81.55m & 6.20m at 0.32% Co from 164.85m (MWDD004)
  • Transgressed by 2km of prospective Mines (R2) Roan sediments
  • Metallurgical testwork will establish suitable simple concentration processes
    for early shallow production

Potential for open pit and underground mining operations

Contact Details

WEBSITE: tarugaminerals.com.au

EMAIL: dan.smith@minervacorporate.com.au

PHONE: +61 (8) 9486 4036

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