InvestSMART

Taruga Minerals Limited (ASX:TAR)

ALERT: Price-sensitive ASX Announcement for TAR
Current share price for TAR : $0.025 0.006 (31.58%)+
Announcement
Release
20 Jul 2026 8:54AM
Price at Release
$0.019
Full Release
download
Summary
Taruga Minerals Limited (ASX: TAR) has secured CorePacific Drilling (PNG) to execute a maiden diamond drilling program at Weioko Gold Deposit on Normanby Island, Papua New Guinea. This program, the first since 2009, is designed to test historical high-grade intersections and explore deeper zones previously not reached. The initial 1,000-meter drilling contract is flexible to allow for program expansion based on early results. The drilling will target untested potential along-strike extensions, down-dip continuity, and parallel zones in the low-sulphidation epithermal setting. Taruga's efforts have been bolstered by the recent granting of exploration licenses, providing full regulatory tenure over the area. With track clearing underway, drilling is set to commence in Q3 2026, and Taruga is fully funded for its 2026 exploration objectives.
Key Points
  • CorePacific Drilling (PNG) secured for maiden diamond drilling program.
  • Drilling targets Weioko Gold Deposit, last drilled in 2009.
  • Initial 1,000m program with potential for expansion.
  • Program tests historical high-grade intersections and deeper zones.
  • Drilling to commence in Q3 2026.
  • Taruga fully funded for 2026 exploration activities.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.