$69 postpage LB

Tyranna Resources Provides Update on its Gold and Cobalt Projects

  • March 21, 2019 07:05 PM AEDT
  • Team Kalkine
Tyranna Resources Provides Update on its Gold and Cobalt Projects

Tyranna Resources Limited (ASX: TYX) provided an update on its three exploration and development projects across the asset portfolio. The company provided recent drilling results, Location, and geology of its Eureka, Goodsprings and South Australia Projects.

Gold MTF non-AMP

Eureka Update:

The gold project of the company is within a granted mining lease and is located north of the gold mining centre of Kalgoorlie in Western Australia. The company recently completed a shallow high-grade in-pit Reverse Circulation (RC) drilling in February 2019 and reported the drilling results. An independent mining consulting firm Entech estimated the mining and economic evaluation of the project. The drill intersections are as:

The drill hole identified as 19ERC12 intersected 5m @ 25.6 g/t of gold from 33m including 1m @ 89.7 g/t of gold from 34m.

The drill hole identified as 19ERC04 intersected 7m @ 3.0 g/t of gold from 39m.

The drill hole identified as 19ERC17 intersected 12m @ 2.6 g/t Au from 20m including 1m @ 15.8 g/t of gold from 26m.

The drill hole identified as 19ERC18 intersected 5m @ 3.7 g/t of gold from 23m including 1m @ 13.5 g/t of gold from 24m.

The drill hole identified as 19ERC20 intersected 9m @ 2.5 g/t Au from 12m.

The company is now considering a third-party ore processing for the production due to the proximity to the nearby mills and hence less haulage cost. As per the Managing Director of the company, they have prioritized the project to become a cash-generating asset, which the MD Mr. Bruno thinks is pivotal for a small gold miner.

The exploration team of the company is currently working on an assessment to figure out the effective exploration strategy for the mining lease of the Eureka gold project Tyranna plans to commence drilling in H2FY19 and is progressing on the permitting process as the company is determined to explore the north and south area of the project. As per the company, there has been no drilling to the south of the project and limited drilling to the north. The company previously identified TGC intersection at Yeltana.

Goodsprings project

The cobalt and base metal project of the company is located approximately 50km southwest of Las Vegas, Nevada, United States and is consist of 329 mining claims covering 6,580 acres of an area. The company mapped down a geophysical survey to the depth of 450m below the surface which identified chargeable zones in the project area, and that could be attributed to mineralisation. The chargeable zones which have concurrent geochemical responses of different metals will be the priority target of the proposed drilling targeted for the H2FY19.

South Australia Gold Project- Jumbuck Gold Project:

The company plans to dive into the project through a Joint Venture (JV) and is waiting for an outcome from the administration and receivership process of the JV partner WPG Resources Limited, and the project will be put on hold till the company reaches clarity on the Joint Venture.

The share of the company closed at A$0.006 (As on 21st March 2019), up by 20% as compared to its previous close.


This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.



The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.


We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK