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Taruga Minerals expects to receive new licence agreements this month for DRC copper-cobalt projects

Taruga executive director Mark Gasson visited DRC in recent weeks.
Taruga Minerals expects to receive new licence agreements this month for DRC copper-cobalt projects
Taruga's projects are in the far south of the Democratic Republic of Congo

Taruga Minerals Ltd (ASX:TAR) is advancing its Kamilombe and Mwilu copper-cobalt projects in the Democratic Republic of Congo (DRC) and expects to receive new licence agreements this month.

Due to a one-week delay in the DRC’s presidential elections, the licencing process has also experienced delays but Taruga is confident the process will be completed in January.

READ: Taruga Minerals completes due diligence drilling at DRC projects, confirms high-grade cobalt potential

The company completed due diligence drilling at the projects earlier this year, which indicated substantial cobalt and copper mineralisation.

Drilling at Kamilombe returned: 31.21 metres at 0.52% cobalt from 33.1 metres, including 3.04 metres at 1.45% cobalt from 36.4 metres; 16.16 metres at 1.05% copper from 72.3 metres; and 24.5 metres at 1.22% copper from 138.3 metres and 8.12 metres at 0.1% cobalt from 144.08 metres.

Assays from Mwilu include: 42.85 metres at 0.39% cobalt from 256.55 metres, including 6.4 metres at 1.11% cobalt from 282.45 metres and 8.4 metres at 2.7% copper fro 269.15 metres.

Prospective neighbourhood

The projects lie within the Kolwezi “Klippe” within the Central African copper belt which hosts many of the largest known copper-cobalt deposits in south-eastern DRC and Zambia.

Mwilu and Kamilombe are currently being mined at shallow levels by artisanal miners, generating income to fund ongoing development projects in the Lualaba Province.

Taruga is also undertaking metallurgical studies on near-surface mineralisation from Kamilombe to evaluate the potential for early-stage, small-scale and near-surface production.

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May 18 2015

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