Short Term Trading Easter Weekend Lounge 29 Mar - 3rd Apr, page-104

TAR starting to rerate on expectation of due diligence updates.

Massive potential with this stock for significant rerate on confirmation of historical drilling grades of 2% to 3% Cobalt.

MC still only $35 million and only 115 Million SOI.

Waiting patiently for the next update on Due Diligence progress and hopefully a plan to fast track drilling the historical twin holes now the dry season is underway!

"Both the Mwilu and Kamilombe projects have good potential to host significant cobalt and possible copper mineralisation which will be confirmed in the planned drilling programmes to be completed during the 6 month due diligence period."

Kamilombe Project.

"A preliminary field visit to site completed by Taruga geologists identified drill collars in the field and these will be re-surveyed during the Due Diligence period for validation."

"Artisanal mining is occurring in the footwall zone in an overturned sequence over more than 1km strike length."

"Eight samples were collected from the artisanal pits at depths ranging from 25m to 75m below surface as shown in Figure 4. Niton results shown in Table 2 and Figure 4 reported highly significant cobalt grades of 0.8% Co to 5.6% Co."

"The initial drilling data supplied to Taruga confirms the presence of high-grade Cobalt mineralisation within the R2 Mines Series, with intersections including:"
o 26.5m@2% Co and 1%Cu from 78.1m
& 32.2m @ 3% Co and 0.5% Cu from 209.6m
o 33.6m @ 2% Co from 77.93m;
o 46.8m @ 2% Co from 7m.2

"The Company will twin a selection of these holes during the pending drilling programme to confirm the current model, grades and widths and true thickness of mineralisation reported by Gecamines/KCC Katanga."


PR 12423 (TAR earning up to 100%).

"As part of the 60 day due diligence, Taruga will channel sample all available outcrops and conduct a number of broadly spaced soil sampling traverses across the low areas separating the more resistant hills to determine the true strike potential of mineralisation."

PEPM 2315 (TAR earning 70%; SADRC Mining SARL 30%).

'In the NE corner of the tenement, which is slightly elevated, artisanal miners are recovering heterogenite (cobalt) and copper oxide from a series of pits in an area referred to as Temoinage. Copper mineralisation in the form of malachite was observed as thin veinlets throughout a dolomitic unit exposed in the pits."

"All artisanal pits and exposures will be sampled during the due diligence period in preparation for targeted regional soil sampling and auger drilling programmes planned to test the mineralised potential of the underlying lithologies."

Kasonta Project (TAR earning 70%).

Initial reconnaissance work carried out by Madini has highlighted the potential for all 3 licences to host significant cobalt and copper mineralisation. All artisanal workings will be mapped and sampled during the due diligence period to gain a better understanding of potentially mineralised areas which will be the initial focus of detailed soil sampling and air core drilling programmes.