Taruga Minerals Limited Stock Market Press Releases and Company Profile
Preliminary Mineral Resource Estimate, Kossa Project
Preliminary Mineral Resource Estimate, Kossa Project

Perth, Mar 15, 2016 AEST (ABN Newswire) - Taruga Gold Limited (googlechartASX:TAR) is pleased to provide this update on the Kossa Project in Niger, West Africa. The Company has completed a preliminary Inferred Mineral Resource estimate of 2.7Mt @ 1.3g/t gold for 112,000ozs gold (top cut 20g/t gold and lower cut-off of 0.5g/t gold applied) at the Borobon prospect, located in the Kossa 1 concession. The Company is continuing to review the Kossa project following the renewal of concessions as well as the granting of two new concessions Ouanzerbie and Kouriki. The total area under licence is now over 1,100km2 (Figure 1, see link below).

Highlights:

- Kossa Project licences renewed and additional licences granted with project area now exceeding 1,100km2

- A JORC compliant Mineral Resource estimate for the Borobon Prospect has an initial Inferred Resource of 2.7Mt @1.3g/t gold for 112,000ozs gold

- Borobon prospect resource area remains open along strike and at depth

- Planning for additional exploration including additional drilling for extensions to defined mineralisation

- New concession area has extensive geochemical anomalies from historic sampling

- Taruga continues to assess opportunities for new acquisitions or value adding agreements relating to existing projects

"The Kossa project located in northwestern Niger is a highly prospective landholding 100% owned by Taruga. The Company has continued to review this extensive area with the focus on identifying potential large gold mineralized systems. The project is located just 15km from the Essakane gold mine - the largest gold mine in Burkina Faso and the geological setting indicates potential for similar styles of gold mineralization. This preliminary Inferred Resource at Borobon is regarded as a first step in continued exploration and development of this area," Managing Director Bernard Aylward commented.

"Taruga is assessing opportunities, both within the countries that we currently operate and in neighboring countries. We are confident that there are excellent opportunities to acquire, explore and advance gold exploration projects within West Africa. In addition, we have successfully concluded two Joint Ventures with major companies in 2015 and will continue to assess opportunities for agreements that represent value for our shareholders."

Borobon Prospect

The Borobon prospect is located at the south end of the Kossa-Borobon trend, a 10km strike length of gold mineralisation defined by drilling, anomalous geochemistry and artisanal workings. Extensive gold mineralisation has been defined at the Borobon prospect with drilling completed by Taruga and previous explorers.

At the Borobon prospect gold mineralisation is hosted in parallel shear zones in a folded sedimentary sequence (refer Figure 3 in link below). Interpretation of the drilling results indicates a series of plunging shoots that require additional drilling to target strike and depth extension. The gold mineralised shoots are interpreted to result from the intersection of shear structures highlighted on the detailed aeromagnetic survey.

Previous reported results from Taruga RC drilling include:

- 22m at 1.98g/t gold from 106m in drill hole TKRC108
including 13m at 2.59g/t gold from 114m
- 4m at 2.24g/t gold from 126m in drill hole TKRC117
- 1m at 3.31g/t gold from 35m in drill hole TKRC116
- 2m at 1.58g/t gold from 27m in drill hole TKRC093
- 5m at 3.16g/t gold from 2m in drill hole TKRC090
- 9m at 1.74g/t gold from 26m in drill hole TKRC076
- 4m at 2.26g/t gold from 106m in drill hole TKRC071
- 8m at 1.21g/t gold from 76m in drill hole TKRC062

(refer ASX announcement 17 Jan 2013, 24 April 2013)

Mineral Resource Estimate

A preliminary JORC compliant mineral resource estimate has been complete for the Borobon prospect. The resource estimate is based on drilling completed by Taruga and historically by Orezone Corporation (googlechartCVE:ORE).

An Inferred Resource of 2.7Mt at 1.29g/t gold for 112,000ozs gold is estimated.
(Top cut 20g/t gold, lower cut 0.5g/t gold applied)

Full detail of the resource estimation are provide in Table 1 (see link below).

Kossa Project Overview

Taruga has previously announced it had received renewals of its existing Kossa 1 and Kossa 2 concessions as well as been granted 2 additional concessions in the same greenstone belt (Figure 1).

The Company is continuing to review this large landholding and priorities areas for additional exploration. Within the new concessions, wide-spaced reconnaissance geochemistry has partly been completed by Orzeone, with samples up to 1.27g/t gold returned. No drilling has been completed within the souther Kouriki concessions and a limited amount of shallow aircore drilling completed in the northern Ouanzerbe concession.

A program of reconnaissance geological mapping and confirmation geochemical sampling is proposed for the new concessions to assist with the ranking and prioritization of targets.

Corporate

Taruga is maintaining an active process of reviewing all available projects and opportunities for new acquisitions within West Africa.

In addition, the Company is continuing its strategy of Joint Ventures where major companies are able to rapidly advance the companies projects. We are continuing to review all potential agreements that will add value to the company.

To view the release including tables and figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-TAR-756363.pdf

Contact

Taruga Gold Ltd
T: +61 8 9486 4036
E: admin@tarugagold.com.au
WWW: www.tarugagold.com.au



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