Taruga Minerals secures MOU for PNG copper-gold target
Taruga Minerals (ASX:TAR) achieved an operational milestone by signing a memorandum of understanding with local landowners, granting the company exclusive exploration access to a massive, undrilled copper-gold porphyry target.
Located at the Kol Mountain Project in East New Britain, Papua New Guinea, the newly accessible zone spans a 4.8km in length and represents a highly anticipated frontier for the explorer.
The agreement, struck with the Makolkol Land Group, formalises months of community engagement and establishes a collaborative framework for sustainable exploration.
The partnership effectively unlocks the Agadul (Bukuam) porphyry target, a prominent geological feature that has never previously undergone drilling.
The target sits directly adjacent to the Agadul (Kapea) Shear zone, an area noted for high-grade historical rock chip samples yielding up to 63.5g/t of gold.
Taruga Minerals Chairman, Paul Cronin, highlighted the strategic importance of the agreement, noting that establishing strong, mutually beneficial relationships with local communities is fundamental to conducting responsible exploration within Papua New Guinea.
He emphasised that the convergence of a large-scale porphyry signature alongside high-grade gold mineralisation within the shear zone and surrounding skarn creates a compelling geological setting that strongly warrants systematic exploration.
At the time of reporting, Taruga Minerals’ share price was $0.021.
