Tartana Minerals Limited has launched a corporate review following an August board spill, abandoning previously proposed asset sales and restructuring its exploration pipeline across Far North Queensland.

“Shareholders gave us a decisive mandate for change at the Extraordinary General Meeting. In the days since, we have immediately commenced a wide-ranging review of the Company's operations, assets and forward plan.”

— Sonny Didugu, Executive Chairman

The incoming board has terminated discussions with ALT Resources PLC regarding the proposed sale of a 50% interest in subsidiary Queensland Strategic Metals Pty Ltd for A$2 million in scrip and a A$500,000 convertible note, concluding the transaction was not value-accretive.

The company has also withdrawn from a Queensland Government exploration grant for the Beefwood copper-gold target after encountering ongoing land access hurdles linked to wildlife habitat concerns.

Instead, Tartana is refocusing on its core tenement holdings. Field reconnaissance and desktop geological reviews are underway to establish a structured drill program across its base and precious metals portfolio, which includes active projects at Cardross and Queen Grade.

“Securing land access arrangements at Nightflower - our most prospective silver project - and immediately commencing road access works, is an important milestone towards the first drilling on this project since 2008.”

— Sonny Didugu, Executive Chairman

The new leadership finalized a Conduct and Compensation Agreement for the Nightflower silver project, clearing the way for road access works and the mobilization of a drill rig. Drilling is scheduled to begin in October, marking the first sub-surface work at the prospect in nearly two decades. The access agreement also covers the nearby OK Mines and Bellevue projects, consolidating historic Chillagoe district workings under single tenure.

Alongside exploration shifts, Tartana has initiated an independent review of its Copper Sulphate Pentahydrate plant at the Tartana Mining Leases. Despite prior refurbishment expenditures and the restacking of 50,000 tonnes of material on the heap, the facility has recorded negligible production through 2026. The assessment will examine operational constraints and heap performance against current market conditions, supported by an offtake agreement with Kanins International.

The operational reset follows a February capital raise that secured $4.5 million, supplemented by an August options cleansing prospectus covering 129,750,009 options exercisable at $0.055. Regional activity continues to draw attention to the Chillagoe and Herberton mineral belts, where neighbouring explorers have reported high-grade silver, lead, zinc, and indium drill intercepts at the Ruddygore project.

Read the full announcement: Commencement of operational review as exploration advances