Taruga Minerals Confirms High-Grade Gold-Copper and Expands Gwamogwamo Prospect

High-Grade Gold-Copper Mineralisation Reaffirmed at Gwamogwamo

Taruga Minerals (ASX:TAR) has reinforced the high-grade nature of its Gwamogwamo gold-copper prospect on Normanby Island, Papua New Guinea, with fresh rock chip assays revealing up to 6.9 grams per tonne (g/t) gold and a striking 8.0% copper. These results, drawn from surface outcrop samples within historical trenches, confirm earlier findings and underscore the prospect’s potential as a significant mineralised system.

The standout copper assay of 8.0% Cu accompanied by 0.8 g/t Au, taken from Trench T1, adds a new dimension to the known mineralisation, which had previously focused on gold grades. Additional samples returned notable grades including 1.9 g/t Au with 2.5% Cu and 2.1 g/t Au with 62 g/t silver, highlighting the polymetallic character of the system.

New Target Emerges Beyond Established Trend

Beyond validating the existing 1.5-kilometre mineralised corridor, Taruga’s field team identified a new exploration target approximately 900 metres north of the northernmost trench (T3A). A float rock sample from this area yielded 4.2 g/t gold with 0.1% copper, indicating mineralisation outside the previously explored zone and within a separate drainage catchment.

This discovery expands the footprint of Gwamogwamo’s gold-copper system and prompts further reconnaissance, mapping, and sampling to define potential trenching targets. The company is prioritising this northern area in its ongoing field program ahead of the broader 2026/27 exploration campaign.

Consistent Results Support Historical Data

The recent assays align closely with both Taruga’s December 2025 vendor rock chip results, which included a peak of 12.4 g/t Au, and earlier trench sampling that recorded continuous mineralised intervals such as 155 metres at 0.6 g/t Au and 0.5% Cu in Trench T1. This consistency across datasets lends credibility to the prospect’s scale and grade continuity, although the company notes that rock chip samples are selective and not necessarily representative of continuous mineralisation.

Historical exploration dating back to the 1990s involved trenching and drilling by Macmin and Hunter Exploration, with follow-up sampling by Taruga and other operators in recent years. The Gwamogwamo prospect sits within a complex geological setting marked by metamorphosed volcanic and sedimentary rocks, intersected by major structural features that likely control mineralisation.

Strategic Exploration Steps Ahead

Taruga’s technical team is advancing reconnaissance exploration, focusing on mapping and sampling priority targets, including the newly identified northern zone. The company plans to complete outcrop trench sampling over key areas before the main 2026 East Normanby field program. Exploration updates and further assay results will be reported as they become available.

Chairman Paul Cronin emphasised the dual significance of the results: "They validate the grades we reported in December 2025, confirming a genuine high-grade gold-copper system with a meaningful 1.5km mineralised trend. The new float sample 900m north signals that the system’s mineralised potential extends beyond historical exploration." This cautious optimism reflects Taruga’s methodical approach to unlocking the project’s value.

Taruga holds a 12-month option to acquire 100% of the East Normanby and Kol Mountain projects, with exploration efforts in Papua New Guinea ramping up following a $1.5 million capital raise earlier this year. The company’s portfolio sits in a region renowned for world-class deposits such as Lihir and Wafi-Golpu, underscoring the strategic importance of its PNG assets.