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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
28 Jul 2026 9:41AM
Price at Release
$0.019
Full Release
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Summary
In their quarterly report ending June 30, 2026, Taruga Minerals Limited announced significant developments in their Papua New Guinea exploration projects. Key highlights include the granting of exploration licences EL2830 and EL2831 on Normanby Island, facilitating drilling preparations for the Weioko Gold District. The company also executed a Memorandum of Understanding with the Makolkol Land Group, establishing exploration access for the Kol Mountain project. A structural study has identified 25 targets at Kol Mountain. Financially, Taruga reported having $1.84 million cash with no debt, and exploration payments of $377,000 during the quarter.
Key Points
  • Weioko exploration licences EL2830 and EL2831 granted, securing tenure for 488km².
  • Drill-ready status for Weioko Gold District, targeting high-grade epithermal gold system.
  • Kol Mountain MoU with Makolkol Land Group for exploration access.
  • Structural framework study by SGC identified 25 exploration targets at Kol Mountain.
  • Commencement of first active field program at Kol Mountain with geological mapping and sampling.
  • Visible sulphide mineralisation intersected with assay results pending.
  • Quarterly cash flow report shows $1.84 million cash and no debt.
  • Payments for exploration activities during the quarter totaled $377,000.
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.