Taruga Minerals (ASX:TAR) has received formal approval for two exploration licences covering the Weioko gold deposit in Papua New Guinea.
Exploration licences EL2830 and EL2831 have been granted on Normanby Island, securing tenure over 488km2, including the core Weioko gold deposit and surrounding prospects.
These licences provide regulatory certainty to advance drilling at the ‘high-grade’ epithermal gold system, which has not been tested for more than 17 years since the last drilling campaign in 2009.
“EL2830 and EL2831 [are] a transformational milestone for Taruga. It not only secures the core of the Weioko Gold District but, importantly, clears the pathway for drilling,” Chairman Paul Cronin says.
Historical drilling at Weioko focused on shallow portions of the system, with multiple holes finishing in gold mineralisation, indicating the system remains open at depth.
Recent geological interpretation has identified along-strike extensions and down-dip continuity beneath existing intercepts that have not been drill tested.
Surface sampling completed by Taruga in late 2025 and early 2026 returned rock chip results up to 23.20 grams per tonne gold at Weioko and 2.40g/t gold with 82g/t silver at Wenasia.
Previous drilling and trenching highlights at Weioko include 108m at 2.40g/t gold, including 28m at 4.90g/t gold from trench WT1S; and 68m at 5.90g/t gold, including 4m at 58.90g/t gold from WT1N.
Diamond drilling results include 64.6m at 2.20g/t gold from surface, including 2.9m at 33.90g/t gold in hole PWED047, which finished in mineralisation.
The company reports directors Paul Cronin and Eric de Mori have exercised options for a total investment of $455,757.
Taruga Minerals plans to commence drill site preparation and begin the initial Weioko drilling campaign, continuing regional fieldwork, geological mapping, and rock chip sampling across the East Normanby Gold Project.
Write to JC Villarba at Mining.com.au
Images: Taruga Minerals
