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Taruga Minerals Limited - An IOCG Story With A Difference

Coffee with Samso Episode 99 with Thomas Line, Chief Executive Officer of Taruga Minerals Limited (ASX: TAR)

Taruga Minerals has one of the most fascinating projects that I have come across in a while. It is an IOCG (Iron oxide copper gold ore deposits) project that seems to be perfect for a small mineral explorer.

Whenever I see a company that talks about IOCG, I normally take a step back because in most cases, small mineral explorers just do not have the funding capacity to pull things off. However, after talking to Taruga Minerals on today's latest Coffee with Samso, I see something quite different, and worth a closer look.

Thomas Line, the CEO of Taruga Minerals Limited (ASX: TAR) talks about his projects which are showing a lot of smoke that is normally reserved for bigger companies. Initial exploration work appears to be consistent with the prospectivity of the projects.

Watch the interview: Coffee with Samso Episode 99

Thomas shares with us the following aspects of the company:

  1. The passion and the reason why Thomas Line is doing this.

  2. Why South Australia and why these projects?

  3. The potential of the geology of the Gawler Craton and how it has secrets that have not been discovered because it has been greatly misunderstood.

  4. What are the components of the projects that Investors should take note?

What I find promising about Thomas is his understanding of ESG (Environment, Social, Governance). Not only does he realise that ESG is important, he is also one to walk the talk. What Thomas says below says it all:

Native Title is a boundary that was put in place. It was not a boundary pre-colonisation. Native Title land is not the only land that is important to the Aboriginal people. All land is important to the Aboriginal people. Aboriginal people need to be engaged to talk about both Non-Native and Native Title land.

I cannot emphasise enough how delighted I am every time I learn something from doing Coffee with Samso. What many of us do not realise is that there are many things that a good discussion can bring out. Investors should learn to understand as much as possible from the company. It is beneficial for investors to be aware that they don't know everything, and by listening, they will gain even more insights that can help them make better informed decisions.


00:00 Introduction

00:52 Thomas Line introduces himself and Taruga Minerals Limited.

02:32 Why choose South Australia and the Projects in Taruga?

08:58 Is the perception that Gawler Craton is misunderstood and underexplored valid?

11:07 What do the recent results in Mt Craig mean?

16:47 How does Taruga focus on all the Prospects?

20:41 Are your projects easy to access?

22:26 Why are your IOCG projects different?

24:20 What issues do you have in your projects?

27:15 ESG has been part of the equation - is it true?

30:45 What is the business of Taruga Minerals ?

35:06 Conclusion


About Taruga Minerals Limited (ASX:TAR)

Taruga Minerals Limited (Taruga or the Company) is a mineral exploration company listed on the Australian Securities Exchange (ASX:TAR) with a focus on acquiring and developing highly prospective Gold, Copper and precious metals exploration projects in Australia.

CEO Thomas Line is supported by a highly credentialed Board, and has provided the Company with exposure to the exciting, under explored, High-Grade Flinders, Torrens and Mt Craig Copper-Gold-Silver Projects on the margin of the Gawler Craton, South Australia.


Regional Setting

The Flinders Project (Flinders) covers 647km2 along the eastern limit of the Gawler Craton in a similar structural setting as the nearby Olympic Dam and Carrapateena deposits. Flinders is unique in that IOCG-style mineralisation has been mapped and sampled at surface and not under several hundred metres of sedimentary cover, as is often the case within the highly prospective G2 structural Corridor. Mineralisation usually occurs in intrusive breccias hosted within structures that crosscut the dominant marine metasediments within the prospect area. The breccia often contains clasts of altered mafic volcanics that can be mapped for over 15km along the dominant Mt Stephen Thrust (MST) and at Jenkins North. Sub-structures and fault splays which branch out from the MST have been proven to contain high-grade copper mineralisation, indicating the potential for a larger “fluid system” or mineralised network beneath the surface.

Recent petrology and sampling have revealed diverse mineralisation comprised of high-grade copper, gold, hematite, cobalt, silver, and vanadium, along with anomalous platinum-group elements, light and heavy rare earth elements (LREE and HREE).

While all global IOCG’s are unique, the geochemical and petrological signatures confirm IOCG-style mineralisation at Flinders with similarities to Dahongshan and Lala IOCG’s (China), Rocklands IOCG (Cloncurry, Australia) and the nearby ~1590Ma Carrapateena and Olympic Dam IOCG deposits (Gawler Craton).

Historic Mining and Exploration

A range of copper and iron occurrences have been identified within and adjacent to the Flinders Project area historically. Mining in the licence area started in 1863 and focussed on artisanal mining of the high-grade copper mineralisation occurring in mineralised breccias at the Warrakimbo Main Lode (WML) which received limited development over the next 50 years due to low copper prices, with almost no modern exploration. Later operations focussed on developing the rare industrial-grade micaceous iron oxide present within the breccia at WML. Evidence of historic artisanal copper mining has also been identified at Woolshed, Rambla and Rainy Day Prospects.

About Thomas Line

Chief Executive Officer

Thomas is the project-generator and vendor of Strikeline Resources and its three highly-prospective South Australian projects and has been responsible for their development to date. Thomas is an experienced geologist and project manager with 10 years’ experience in mining, exploration and resource development. Thomas holds an honours degree in geology, is a member of the Australian Institute of Company Directors (AICD) and is committed to the successful future development of the Flinders, Torrens and Mt Craig copper projects.



The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer.


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