Taruga Minerals Ltd (ASX:TAR) is fully focused on firming up the potential of its projects in the historical mining region of South Australia’s mid-north, including high-value, in-demand rare earth elements (REEs).
The focus has strengthened following a successful 2022 drilling campaign at the Mt Craig Project that resulted in significant magnetic rare earth oxides (MREO) intercepts.
This along with efforts at the Flinders Project further to the north has also seen the company make management changes to better align with its strategic objectives.
MREO focus at Mt Craig
At Mt Craig, Taruga is seeking to validate a potential flowsheet for extraction of the MREOs identified before further exploration drilling is conducted.
In this regard, a phased program of further metallurgical testing is underway to identify the minerals hosting the MREO.
The intention of this metallurgical test-work is to determine a flowsheet that will have the potential for economic recovery of the high-value elements.
Flinders update
In parallel, Taruga is pursuing a decision of its application under the Aboriginal Heritage Act 1988 (SA) to continue exploration on its highly prospective Flinders Project.
The company will continue to engage with the Aboriginal Affairs and Reconciliation (AAR) unit and the South Australian office of the Attorney General and Minister for Aboriginal Affairs to seek a timely resolution to this matter.
Management changes
As a result of this re-alignment of priorities by the board, Taruga’s CEO Thomas Line has tendered his resignation.
Thomas will work out his three-month notice period focusing on the key strategic priorities being Flinders and the Mt Craig REE metallurgical test-work.
The board thanks Thomas for his commitment to the company since his appointment as CEO.
Taruga’s non-executive director David Chapman will assist and support the exploration team and any work done outside his existing non-executive role will be remunerated on a commercial daily rate.
Chapman is a geologist and senior executive with 40 years of international resources industry experience.