Taruga Gold's (ASX:TAR) drilling is underway to test high-priority target areas at the Nangalasso Project and at the Kambali prospect within the SLAM project in Mali.
Results from the limited geochemical sampling of artisanal mining areas within the Kambali prospect also gave results up to 7.4g/t gold from surface; Taruga have hence added additional holes to target this new area.
Nangalasso lies just 15 kilometres from the 7 million ounce Syama gold mine operated by Resolute Mining (ASX:RSG).
Taruga has been exploring this project since October 2013 and has four key prospects for aircore drilling in this campaign which is expected to take 10 days to complete.
A drilling campaign to target areas of extensive artisanal workings and geochemical anomalism at Kambali will immediately follow the Nangalasso drilling.
The workings are characterised by vertical shafts to a depth of 15 metres, with gold mineralisation hosted in surface laterite and residual saprolite.
Kambali drilling will take around 7 days.
All assay results from both campaigns will be reported progressively as soon as they become available.
Taruga offers substantial potential upside, drilling close to a 7 million ounce gold deposit and being capitalised at under $3 million.
The company also retains around $1 million in cash.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.