MD Bernard Aylward Talks About the Newcrest Deal
The culmination of significant alliances with major institutions and gold producers over the last six months demonstrates the attractive nature of the company and its activities in Africa.
- Taruga and Newcrest execute non-binding heads of agreement for a proposed farm-in and joint venture over Taruga's Dabakala concession
- Newcrest to spend up to US$1.7 Million to earn 75% of proposed joint venture within 3 years from commencement, including a minimum US$750,000 exploration spend before withdrawal
- US$100,000 cash payment to Taruga upon execution of documentation
- Newcrest concessions adjacent to Dabakala and exploration programs will target high priority mineralised trends
- Strong Geochemical anomalies defined by Taruga sampling within the Dabakala concession
- If the Newcrest transaction proceeds, Taruga will have concluded two strategic Joint Venture arrangements in 2015 with major gold companies
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About Taruga Gold Ltd
Taruga has focused on the Birimian geology of West Africa, however the Company is actively seeking new projects and is reviewing projects in Australia, Africa and other regions of interest.
Taruga Gold Ltd
Resolute Mining Limited
Newcrest Mining Limited