Taruga Minerals Confirms High-Grade Gold-Copper Results at Gwamogwamo, Normanby Island

Taruga Minerals Confirms High-Grade Gold-Copper Trend at Gwamogwamo and Identifies New Northern Target

Taruga Minerals (ASX: TAR) has reported new assay results from the Gwamogwamo prospect within its East Normanby Gold Project on Normanby Island, Papua New Guinea, with surface rock chip sampling returning values up to 6.9 g/t gold and 8.0% copper. The latest sampling validates previously reported high-grade mineralisation and also points to a new exploration target approximately 900 metres north of the known trench network.

The announcement matters because it strengthens confidence in the geological continuity of the Gwamogwamo system. For investors, the key issue is not simply the presence of high grades in isolated samples, but whether multiple rounds of work continue to support a broader mineralised footprint. In this update, Taruga's new results align with both historical trenching and vendor due diligence sampling completed in December 2025.

What the New Assays Are Showing

New rock chip outcrop sampling was completed within historical trenches T1, T1A, T1C, T2B and T3A. Furthermore, the company reported that these results confirm high-grade gold-copper mineralisation at surface ahead of the planned 2026/27 exploration campaign.

The strongest results reported in the update include:

These are selective surface samples, so they are not necessarily representative of overall grade continuity across the prospect. That caution is important. However, high-grade surface values can be useful indicators when they occur within a broader mineralised trend already supported by trench data and repeated sampling programmes.

Silver values were also material in several samples. Results including 61.6 g/t silver in sample 702609 and 45.7 g/t silver in sample 702602 suggest the system carries a meaningful polymetallic element, with gold, copper and silver all present in parts of the trend.

What Does the Chairman Say?

"These results do two important things for us. First, they validate the grades we reported at Gwamogwamo in December 2025, confirming this is a genuine high-grade gold-copper system, with a significant 1.5 km mineralised trend. Second, a 4.2 g/t Au float sample 900 m north of known trenches and within a separate drainage catchment tells us the mineralised potential is bigger than historical exploration extents. Our field team is following that lead now whilst we continue to expand our exploration across the broader prospective Gwamogwamo area," said Paul Cronin, Chairman.

Three Datasets Are Now Pointing in the Same Direction

One of the more important aspects of the update is that the latest results do not stand alone. Taruga's new sampling is consistent with both the historical trench results from 1996 to 1997 and the vendor rock chip results reported on 18 December 2025.

That consistency can matter more than any single headline assay. Repeated results from different programmes, different timeframes and different operators can reduce the chance that the prospect's apparent grade profile is being driven by one-off sample bias.

The three datasets compare as follows:

The historical trench widths are also relevant. Broad trench intervals such as 155 metres at T1 and 68 metres at T1B suggest the system is not limited to narrow, isolated veins. Instead, the reported mineralisation appears to extend across meaningful widths at surface, at least in trench exposure.

For investors following early-stage explorers, this distinction is important. High-grade rock chips are useful, but wider trench intercepts can provide additional evidence that the mineralisation may have both scale and grade.

The Northern Target Could Extend the Footprint Beyond 1.5 Kilometres

The most strategically important result in the report may be sample 702615, not because it carries the highest grade, but because of where it was collected.

Taruga reported that the float sample was taken about 900 metres north of trench T3A, the northernmost previously sampled trench. It returned 4.18 g/t gold, 0.14% copper and 7.0 g/t silver from a highly oxidised gossan with trace pyrite.

According to the company, the sample lies beyond a separating ridge line and within a separate drainage catchment from the historic trenching and drilling area. That detail is significant because it suggests the material may not simply have been transported from the known Gwamogwamo trend. Instead, it may indicate a separate mineralised source in ground that has not previously been explored.

Key Points From the Northern Target

• Located about 900 metres north of the current trench network
• Positioned in a separate drainage catchment
• No previous exploration coverage reported in the area
• Returned 4.2 g/t gold from oxidised gossan
• Follow-up mapping, sampling and target definition are already underway

If follow-up work identifies source outcrop or additional mineralised structures, the known Gwamogwamo system may prove to extend beyond the currently defined 1.5 kilometre trend. At this stage, that remains an exploration concept rather than a demonstrated extension, but it has become a clear near-term focus.

Understanding Gossans and Why They Matter at Gwamogwamo

The announcement repeatedly refers to gossan, which is a useful concept for non-specialist investors to understand.

A gossan is an iron-rich, heavily weathered rock that forms near the surface above sulphide mineralisation. When sulphide minerals such as pyrite or chalcopyrite are exposed to air and water over long periods, they break down and leave behind oxidised material that can appear rusty or deeply weathered. Geologists often examine these surface expressions because they can point to sulphide-rich mineralisation below.

At Gwamogwamo, that matters because several of the stronger samples were collected from highly oxidised gossan material. The broader prospect is described as a gold-copper system centred on gossans derived from massive and disseminated sulphides within metamorphosed volcanic and sedimentary rocks.

In simpler terms, the surface rocks being sampled may represent the weathered cap of a deeper sulphide system. Surface results do not prove the size or economic value of what lies below, but they can help define where trenching and drilling should be focused.

Key Technical Terms Explained

This educational context matters because understanding the sample type helps frame the result correctly. A float sample can be a strong exploration clue, but it remains an indirect indicator until a source is located.

Historical Trenching Still Provides the Broader Context

The report's historical trench data remains central to the Gwamogwamo story. The more material historical results include:

These trench results suggest mineralisation has already been recognised over substantial strike and width. The latest rock chip assays are therefore best viewed as validation points within a larger geological framework, rather than isolated discoveries.

In addition, the broader prospect straddles the contact between the Kurada and Prevost Metamorphics and is cut by a major WNW-ESE structure. Previous exploration identified at least four zones of outcropping to sub-cropping gossans along a 1.5 kilometre north-south trend.

What Taruga Is Doing Next

According to the ASX update, Taruga's field team is already active around Gwamogwamo and the southern portion of Normanby Island. The next steps are practical and short-cycle, which means the market may receive further news flow as work progresses.

Planned work includes:

1. Completing reconnaissance exploration at Gwamogwamo, including follow-up mapping and rock chip sampling of priority target areas
2. Advancing outcrop trench sampling over priority targets before the broader 2026 East Normanby field campaign
3. Reporting further assay results as they are received
4. Defining targets in the new northern area to support potential trenching
5. Continuing regional exploration around the broader prospect area

These activities remain at the exploration stage, but they are directly linked to turning surface results into more testable targets.

Why the Update Matters to Investors

This announcement does not contain a Mineral Resource Estimate, drilling results or development economics. It is an exploration update, and that distinction should frame how the results are assessed.

Within that context, however, the investor relevance is clearer across four key areas:

• Validation of prior work: The latest assay set supports both historical trenching and December 2025 vendor sampling
• High-grade surface results: Values up to 6.9 g/t gold and 8.0% copper are meaningful in surface samples, even if selective
• Potential footprint growth: The northern float sample opens a fresh target area outside the previously defined 1.5 kilometre corridor
• Ongoing field activity: Follow-up work is underway now, which may provide near-term catalysts through additional assay and mapping results

Taruga also holds a 12-month option over the 488 km² East Normanby Gold Project and the Kol Mountain Copper-Gold Project, with staged payments linked to JORC 2012 milestones. That capital structure may be relevant for investors assessing how the company balances portfolio growth with exploration spending.

Ultimately, Taruga's latest report presents a clearer exploration picture at Gwamogwamo. The company has added a second round of its own surface validation data to an already encouraging historical and vendor dataset, whilst also identifying a new target area that had not previously been tested. For investors, the next question is straightforward: can follow-up work convert these surface indicators into defined trench and drill targets across a larger mineralised system?

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