Taruga Acquires 416.5 km² Gascoyne Tenement with Lead Up to 26.3%

Strategic Acquisition in the Gascoyne

Taruga Minerals Limited (ASX: TAR) has taken a decisive step in its exploration strategy by exercising its option to acquire 100% ownership of the Thowagee Project, a granted tenement (E08/3245) located in the northern Gascoyne province of Western Australia. This move, announced on 1 May 2025, complements Taruga’s existing portfolio and expands its contiguous landholding to a substantial 416.5 square kilometres, reinforcing its position in a region known for polymetallic mineralisation.

Impressive High-Grade Assays Signal Potential

Initial rock chip sampling from the Thowagee Project has yielded highly encouraging results, confirming the presence of an outcropping base and precious metals system with notable grades. Peak assays include 26.3% lead (Pb), 130 grams per tonne (g/t) silver (Ag), 14.5% zinc (Zn), 3.4% copper (Cu), and 0.9 g/t gold (Au). These results underscore the polymetallic nature of the mineralisation and suggest significant exploration upside.

Specific rock chip results highlight several standout samples, such as THRK018 with 26.3% Pb and 113 g/t Ag, and THRK019 with 19.7% Pb, 130 g/t Ag, and 3.4% Cu. The presence of both base metals and precious metals in these assays points to a complex mineral system that warrants further investigation.

Geological Context and Exploration Plans

Mapping has identified two distinct polymetallic mineralised trends at Thowagee, with historical workings extending over 800 metres along a north-northeast strike and over 350 metres along a north-northwest strike. This structural complexity may provide multiple targets for further exploration and resource definition.

Taruga plans to advance exploration through geochemical soil sampling, additional rock chip analysis, and a comprehensive review of existing geophysical datasets, including radiometrics, VTEM, magnetics, and interpreted bedrock maps. A particular focus will be on identifying and sampling gossans adjacent to the Thowagee Mine, which could indicate zones of enriched mineralisation.

Strategic Implications for Taruga

The acquisition of Thowagee not only adds a high-potential asset to Taruga’s portfolio but also consolidates its land position in a prospective mineral province. The issuance of shares valued at $85,000 to the vendors as consideration reflects a measured approach to capital allocation, balancing growth ambitions with financial prudence.

As exploration progresses, the integration of new data with historical records and geological models will be critical to refining the understanding of mineralising events and guiding future drilling programs. Taruga’s technical team, led by Technical Director David Chapman, is well-positioned to leverage these insights.

While the company remains cautious about forward-looking projections, the initial results and strategic landholding expansion signal a promising chapter for Taruga in the competitive WA base and precious metals exploration sector.