Taruga Minerals continues hunt for clay-hosted REE at Morgan’s Creek

Taruga Minerals (ASX: TAR) closed out the June quarter with the confirmation of ionic adsorption clay (IAC) rare earth elements (REE) at its Morgan’s Creek prospect in South Australia.

During the period, Taruga analysed samples from a 2021 reverse circulation drilling program at the prospect.

The test work indicated there was a high concentration of readily soluble REE – allowing for a simple metallurgical flow sheet. Readily soluble REE is critical when determining if the mineralisation is economically viable.

Results from the clay zone showed an 85% average recovery of total rare earth element oxides (TREO) and a 93% recovery of high value magnetic rare earth element oxides (MREO).

In the weathered zone, which contains clay, recoveries were 72% TREO and 75% MREO.

Also during the quarter, Taruga collected high-resolution ground magnetics and conducted modelling over new areas to assist with drill planning.

This led to the identification of several new IAC REE and copper targets.

Mt Craig project

Morgan’s Creek is part of Taruga’s wider Mt Craig project, which is also prospective for copper.

During the June quarter, Taruga received $650,000 in South Australian Government funding for exploring Mt Craig.

The state government gave the funding in two separate grants – $325,000 to assist with exploring for IAC REE, and the other $325,000 to help with identifying Central Africa style sediment-hosted copper at the project.

Mt Craig also hosts the Wyacca prospect, which Taruga is evaluating for potential copper targets.

Meekatharra nickel-copper joint venture

Peak Minerals (ASX: PUA) is earning up to 80% in the Meekatharra magmatic nickel-copper project in Western Australia’s Murchison.

In May, Peak revealed an 18 hole drilling program at the joint venture had identified Target B as a priority for follow up work.

Drilling at the target hit 17m at 0.29% nickel from 56m, and 10m at 0.32% nickel from 50m.

Also in WA, Taruga has three exploration licence applications in the Greenbushes area, which is prospective for nickel-platinum group elements, lithium-tin and tantalum and volcanogenic massive sulphides.

Other South Australian projects

In addition to Mt Craig, Taruga owns the Flinders and Torrens projects in South Australia.

A desktop review of historical data was undertaken at Torrens during the quarter, while the heritage agreement process for Flinders continued.

Well-funded

Taruga closed out the June quarter with $2.1 million in the bank.

The company says the funds are sufficient for it to carry out its planned work activities in the coming quarters.