Historical Studies Produce Excellent Results From Wyacca Prospect
Taruga Minerals Limited (ASX: TAR) has identified a well-defined IP anomaly with an associated low resistivity anomaly has been defined over a distance of at least 1.7km after conducting a review of historical IP data collected by CAMS Leases Pty Ltd on the Wyacca Prospect in South Australia in the 1960’s.
The IP anomaly is coincident with tree historic copper workings which reported rock chip results of up to 21.6% Cu and 11.4 g/t Ag.
Historic drill holes were mostly vertical and drilled to less than 100m, and only two were drilled coincident to the margin of the IP anomaly which appears to strengthen at depths below 50-100m from surface. CAMS W3 reported 57.9m at 0.27% Cu from 33.5m (including 4.6m at 0.9% Cu from 45.7m and 1.5m at 2% Cu from 76.2m), while CAMS W2 reported 41.2m at 0.21% Cu from 44.2m (including 4.6m at 0.84% Cu from 44.2m).
Furthermore, holes were collared 60m apart suggesting significant widths of copper mineralisation can be expected from angled drill holes which will test the true width and grade of copper mineralisation associated with the IP anomaly.
CEO, Thomas Line, said the mapping further identified a number of parallel mineralised breccias which reported up to 11.6% Cu and 23.2g/t Ag.
“The reprocessing and modelling of the historical IP survey has confirmed a strong association exists between the IP chargeability anomaly, high-grade rock chip samples and significant historical drill intercepts,” Mr Line said.
“This further highlights the copper and silver potential at Wyacca. The survey shows that only two of the historical holes, which also contained the best historical intercepts at Wyacca (CAMS W2 and CAMS W3), were drilled in close proximity to the IP anomaly and were stopped short of intersecting the main body of the anomaly at depth.
“Taruga will plan a number of angled holes across the IP anomaly which will show the grade potential and true width which is expected to exceed 50m from historical drilling. Field mapping and sampling has further highlighted the potential at Wyacca where a number of east-west striking parallel, mineralised breccias were identified for follow up with drilling.
“We understand and respect that we seek to explore on the traditional lands of Aboriginal people and are committed to good faith engagement with identified Aboriginal stakeholders wherever we operate. This includes seeking to maximise the benefits for Aboriginal people from our drilling program and any future mining activity.
“Good engagement with identified Aboriginal stakeholder groups continues to ensure land access at Mt Craig and the management of obligations under the Aboriginal Heritage Act 1988 (SA).”
