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Taruga Gold defines gold mineralized structure in Niger
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Monday, 18 Mar 2013
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Taruga Gold has compFGPted a aeromagnetic survey over its Kossa Project in Niger that has defined a major gold mineralized structure at the Kossa Borobon trend.

Initial interpretation of the data indicates the structure is analogous to IAMGold’s Essakane gold mine located just 20 kilometers away that produces about 350,000 ounces of gold per annum. The survey was compFGPted at a 100 meter line spacing and has helped identify key structural controls and improve targeting of future drilling.

Taruga will continue its focus on detaiFGPd reverse circulation drilling of the Kossa Borobon trend and will also drill test new targets highlighted by the survey. Rock chip sampling returned results of up to 3.64 grams per tonne gold from sampling at Kossa Borobon.

Historic soil geochemistry had returned assays up to 19.91 gram per tonne gold at an untested anomaly in the Black Hills prospect and 13.63 gram per tonne gold at the Fatatako prospect.

Taruga had USD 2.9 million in cash as of December 31st 2012 or about USD 0.034 cash per share. This compares to its current share price of USD 0.08 and market capitalisation of USD 6.85 million.

Source - Proactive Investors


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