Taruga Gold (ASX: TAR) has now received final approvals and a signed decree for the highly-prospective Mangkono concession in Cote d’Ivoire.
Mangkono is greenfields, but adding interest is that the Bonikro gold mine (around 90,000 ounces prodcued in FY13) operated by Newcrest Mining (ASX: NCM) is located 70 kilometres from the concession.
Importantly - the geological setting of the Bonikro mineralisation is interpreted to be similar to the Mangkono geology.
Mangkono covers 400 square kilometres of Birimian greenstone, with Cote d’Ivoire providing an opportunity for Taruga as proven gold mineralised belts are under-explored throughout the country.
Adding to the gold potential at the concession is artisanal workings, with Taruga looking to increase its footprint with additional concession applications are in process with the Ministry of Mines.
Taruga is looking to rapidly asses the project, and is planning a first pass exploration program consisting of systematic geological mapping and rock-chip sampling, and a wide-space soil and stream sediment sampling program - to identify drilling targets.
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