Taruga has received final approvals and a signed decree for the highly-prospective Mankono concession in Cote d’Ivoire. This is the first concession that the Company has been granted in Cote d’Ivoire and we intend to complete a first pass exploration program consisting of systematic geological mapping and rock-chip sampling and a wide-space soil and stream sediment sampling program covering the concession area. The aim of the program is to provide sufficient geological data to rapidly assess the project and delineate drilling targets for the determination of economic gold mineralisation.
Taruga has a strong focus and interest in the exploration potential of Côte d’Ivoire. The country is very under-explored for gold mineralisation, however the high prospectivity is demonstrated by the major discoveries, and the recognised extensions of the proven gold mineralised belts in Mali, Burkina Faso and Ghana extend into Côte d’Ivoire assisting in targeting exploration programs and identifying high-priority areas.
In addition to the granted Mankono project, the Company has other highly prospective application pending grant in Cote d’Ivoire. Targuga has acquired an additional six licence applications that have been accepted by the Côte d’Ivoire Government, with all applicable fees paid and field visits with Government officials in progress. The concessions were acquired as part of the West Africa acquisition of Mali and Cote d’Ivoire projects completed in August 2013.
The Côte d’Ivoire licences are located in highly prospective areas including the Tengrela-Tongon area (Boundiali and Nielle applications), the Korhogo region (Korhogo and Dabakala applications) and the extensions of the Bonikro and Hounde greenstone belt (Tiebissou and M’Bahaikro applications). All applications are for 400km2 and if all licences are granted Taruga will have a major exploration holding of more than 2,800km2 in Côte d’Ivoire.
The Mangkono project is located in central Cote d’Ivoire, approximately 410km by road from Abidjan, the major city of Cote d’Ivoire. The Mangkono project consists of one granted concession covering an area of approximately 400km2, with good access to the project area and a network of tracks and paths throughout the concession.
The project is a greenfields exploration project with very limited previous work. A review of the geological setting highlights the presence of artisanal workings, major geological structures and geological setting that indicate the prospectivity for gold mineralisation.
The Bonikro gold mine operated by Newcrest is located 70km from the Mangkono concession, and the geological setting of Bonikro mineralisation is interpreted to be similar to the Mangkono geology.
Taruga 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 covering the concession area. The aim of the program is tp provide sufficient geological data to rapidly assess the project and delineate drilling targets for the determination of economic gold mineralisation.