TARGA ANNOUNCES GOLD-SILVER EXPLORATION PROGRAMS IN ARGENTINA
CSE: TEX | OTCQB: TRGEF | FRA: V6Y
VANCOUVER, BC, March 2, 2026 /CNW/ - Targa Exploration Corp. (CSE: TEX | FRA: V6Y | OTCQB: TRGEF) ("Targa" or the "Company") today announced upcoming exploration plans for its El Zanjon and Venidero gold-silver projects in Santa Cruz, Argentina for 2026.
Highlights
- Geological mapping and prospecting now underway at Venidero
- Previously identified 2.5km-long Gorganzola Vein (up to 4.45g/t Au at surface)
- Plan to cover northern half of the 10,736ha project
- 2,000-2,500m fully-funded maiden drill program planned for El Zanjon
- Targeting low-sulphidation epithermal gold-silver systems like Cerro Vanguardia
- EIS ("Environmental Impact Statement") extension approved for Venidero, expecting EIS for El Zanjon shortly
"We are excited to announce that field work has begun at Venidero, where our EIS has already been approved" commented Targa CEO, Cameron Tymstra. "A field team will spend the next few weeks mapping roughly 5,000ha, looking for additional veins like the previously identified Gorganzola Vein. Receipt of the EIS for El Zanjon is expected shortly as we are just completing an updated flora and fauna study in the areas where we plan to begin drilling. Pending receipt of the EIS, we are aiming to mobilize a drill to El Zanjon for a maiden drill program of at least 2,000m in late March. That drill program will be targeting low-sulphidation epithermal gold-silver systems, similar to what is seen 30km to the north at AngloGold's Cerro Vanguardia mine."
Venidero
A geological mapping and prospecting team has mobilized to the Venidero project, referred to as Morobayo on the mineral concession titles, and begun work mapping the northern half of the project on a 1:10,000 scale. The mapping work is expected to take 2-3 weeks to complete. Venidero's prospecting-level Environmental Impact Statement, required for mapping and other low-impact fieldwork on the project, was approved earlier this month.
Previous work at Venidero, conducted by Rugby Resources, identified the Gorganzola Vein traced on surface for 2.5km, surface samples from which have returned gold values up to 4.45g/t Au. A number of unsampled vein blocks and silica cap zones were also previously identified over an area of approximately 5km south of Gorganzola. The field team will also be sampling any previously unsampled or unidentified veins within this highly prospective mapping area at Venidero.
The Venidero project is located approximately 60km south of the Cerro Negro mine, operated by Newmont.
El Zanjon
The El Zanjon Project, now covering 57,276ha, is located 30km south of AngloGold's Cerro Vanguardia mine and sits along the same major fault zone. The Company is targeting a possible repeat on El Zanjon of the same structural and geological conditions that host the Cerro Vanguardia epithermal gold-silver mineralization.
EIS
Local contractors are currently completing several days of flora and fauna study in the areas of interest where Targa is planning its maiden drill program. This study is the final item outstanding to receive approval of the exploration-level Environmental Impact Statement that will allow the Company to drill at El Zanjon. Payment for the EIS has been made, and receipt of final approval is anticipated shortly.
Soil Sampling
333 soil samples, taken in 2025, were sent to a lab for ionic leach geochemistry testing in early January. These samples were taken in the areas of interest, identified from earlier soil sampling and geophysics work, on a 40m sample spacing. The geochemistry results are expected in the next one to two weeks and will be used to assist with collar location selection for the first drill holes of the maiden drill program.
Drill Program
Targa is planning a minimum of 2,000m of diamond drilling at the El Zanjon project, tentatively scheduled to begin in late March, pending receipt of the EIS, and to continue through April and May.
Geophysics and geochemistry work completed by Rugby Resources in previous work seasons has identified two large areas of interest where elevated gold and silver levels were observed in the ionic leach geochemistry from the soil samples. Ground magnetic surveys conducted at line spacings of 320m, 160m, and in some target areas, 80m, have defined fault structures and flexures considered essential for hosting potential gold-silver mineralization like that seen at the Cerro Vanguardia and Cerro Moro vein systems. It is the combination of these structures with elevated gold-in-soil values, particularly in the northeastern area of the project, where Targa will be planning its initial drill holes.
Both the maiden drill program at El Zanjon and the fieldwork at Venidero are fully funded from the recently closed private placement (see press release dated February 19, 2026).
Technical Disclosure
The disclosure of scientific and technical information contained in this news release has been reviewed and approved by Lorne Warner, P.Geo., VP of Exploration of Targa, who is a "qualified person" within the meaning of National Instrument 43 -101- Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr. Warner is responsible for the technical content of this news release. Mr. Warner is not independent of the Company.
The results disclosed in this news release related to exploration work conducted by Rugby Resources on the Optioned Projects. The Company has not completed sufficient work to verify these results in accordance with NI 43-101 standards, and such results should not be relied upon without additional verification.
About Targa
Targa Exploration Corp. (CSE: TEX | FRA: V6Y | OTCQB: TRGEF) is a Canadian exploration company engaged in the acquisition, exploration, and development of gold mineral properties with headquarters in Vancouver, British Columbia. The Company's focus is on early-stage projects in premier mining jurisdictions with strong potential for making Tier 1 grass roots precious metals discoveries. Targa's principal asset is its Opinaca gold project in Quebec where wide-spread gold mineralization was recently discovered during a maiden drill campaign in 2025. The Company is also initiation exploration programs on the Venidero and El Zanjon gold-silver projects in Santa Cruz, Argentina, where the company has an option to earn up to an 80% interest in each project.
SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release includes certain "Forward‐Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward‐looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "proposed", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward‐looking statements or information. These forward‐looking statements or information relate to, among other things: obtaining the required regulatory approvals and permits; execution of the proposed exploration programs; number of meters drilled and timing of fieldwork programs; and the exploration and development of the Company's properties.
Forward‐looking statements and forward‐looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of Targa, future payments and other obligations, agreements, acquisitions and re-organization of Targa and its affiliates, future growth potential for Targa and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of gold and other metals; costs of exploration and development; the viability and accuracy of reported exploration results; the estimated costs of development of exploration projects; Targa's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect Targa's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward‐looking statements or forward-looking information and Targa has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: price volatility of gold and other metals; risks associated with the conduct of the Company's mineral exploration activities; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of public health crises; the economic and financial implications of public health crises to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption "Risk Factors" in Targa's management discussion and analysis and other public disclosure documents. Readers are cautioned against attributing undue certainty to forward‐looking statements or forward-looking information. Although Targa has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. Targa does not intend, and does not assume any obligation, to update these forward‐looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Targa Exploration Corp.
Contact Information: For more information and to sign-up to the mailing list, please contact: Cameron Tymstra, CEO and President, Tel: 416-668-1495, Email: [email protected], Website: www.targaexploration.com
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