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- Taruga Minerals’ (TAR) subsidiary receives a $300,000 refund from the South Australian government
- The refund follows Strikeline Resources’ exploration at the Mt Craig copper project, which met the requirements of the grant awarded under an accelerated discovery initiative
- The company says the $300,000 refund ensures it remains well funded to continue activities in 2022
- Taruga Minerals have dropped 6.67 per cent, trading at 4.2 cents
Taruga Minerals’ (TAR) subsidiary, Strikeline Resources, has received a $300,000 refund from the South Australian government.
The refund follows expenditure at the company’s Mt Craig copper project, which is situated within the Adelaide Geosyncline in South Australia.
Strikeline Resources’ exploration at Mt Craig met the requirements of the grant awarded under the accelerated discovery initiative, which was announced in May 2021.
The initiative was targeted at exploration projects that test innovative exploration concepts and technologies and have the potential to lead to new mineral discoveries and establish new mineral frontiers.
The company’s exploration efforts included reverse circulation and diamond drilling, geophysics and detailed mapping.
“We are grateful for the South Australian government continuing support for the minerals exploration sector,” CEO Thomas Line said.
“The $300,000 refund follows various high-impact exploration programs at the Mt Craig copper project, and ensures we remain well funded to continue activities in 2022.”
The news follows recent drilling at the project which saw a 2000-metre reverse circulation drilling program begin at the Morgan’s Creek prospect.
Taruga Minerals dropped 6.67 per cent, trading at 4.2 cents at 1:42 pm AEDT.
